A mortgage is a long-term financial commitment. Compare lenders, understand loan types and costs, review Loan Estimates, and use calculators and preapproval to choose a mortgage that fits your budget and life plans.
A cash-out refinance replaces your mortgage with a larger loan to access equity as cash. It can lower monthly payments, consolidate debt, or fund home improvements - but it raises your loan balance, may have higher rates and closing costs, and has tax and PMI implications.
Use modern mortgage calculators and comparison tools to model down payments, payments, PMI, and affordability. Software helps you test scenarios and prepares you for lender preapproval, but it doesn't replace professional advice for complex cases.