Buying a house is expensive, which leads some people to wonder whether it’s worth buying or if they should keep renting. However, the long-term benefits of owning a home can help you build wealth for yourself and future generations of your family. According to the most recent Federal Reserve data, the median net worth of homeowner households was $396,200 in 2022, nearly 40 times the median net worth of $10,400 for renter households. Read more: The best mortgage lenders for first-time home buyers Accumul ...

Whether you need funds for a new roof, an addition, or to pay off debt, a cash-out refinance is an option homeowners with substantial equity can consider. Cash-out refinancing can be a great way to tap your home equity when you need money. But before you get too excited about the idea of pulling thousands of dollars out of your house and into your bank account, it’s important to understand the advantages and disadvantages of a cash-out refinance. How does a cash-out refinance work? While many homeowners ...