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The average 30-year mortgage rate is currently is less than 3.5% while the average credit card rate is more than 12%. <\/p>
So by choosing a variable rate credit card or a store credit card, you\u2019ll be paying more in interest. <\/p>
But if you have enough equity in your home for a cash-out refinance, you can complete your renovations or repairs without huge interest charges.<\/p>\n
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Remember even though it is a refinance it is still a loan so do thoughtful spending. <\/p>
So before you close on your refinance get estimates from contractors or repair professionals. <\/p>
So that you don’t take out too much or too little money and have another bill sitting after the job is finished.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t