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Using a Cash-Out Refinance to Buy a Second Home: A Good Idea?

A cash-out refinance can help you buy a second home while also reducing the interest rate on your existing home loan.

Author
By Josh Patoka

Written by

Josh Patoka

Freelance writer

Josh Patoka has covered personal finance news for more than five years and is an expert on mortgages, credit cards, debt, and investing. His work has been featured by Fox Business and MSN.

Edited by Reina Marszalek

Written by

Reina Marszalek

Senior editor

Reina Marszalek has over 10 years of experience in personal finance and is a senior mortgage editor at Credible.

Updated October 7, 2024

Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

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