A home equity loan and a cash-out refinance are two ways to access the value that has accumulated in your home. If you already have a mortgage, a home equity loan will be a second payment to make.
Texas Home Equity Loan Calculator Refinancing Home Equity Loan Stop paying for private mortgage insurance (PMI) – If you put less than 20% down on your original home loan, chances are you’re paying for PMI. If your home has increased in value and/or you have enough equity, you can refinance to eliminate this costly monthly payment. Get a longer loan term – When you refinance to a longer-term loan, you’re.Home Equity Financing.. outstanding mortgage balance, credit history and other factors, you may qualify for a home equity loan. Use this calculator to estimate your borrowing capacity. Calculator. Your Financial Resources. Bank of Texas is with you on every step of your financial journey.