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Hi everyone,
I’ve noticed many homeowners asking whether it’s better to refinance a mortgage or take out a personal loan for things like home improvements, debt consolidation, or covering large expenses. The answer really depends on your current interest rate, credit score, home equity, and how much you need to borrow.
Refinancing may offer lower rates but comes with closing costs. A personal loan is faster, but often has higher interest. Choosing wrong could cost thousands over time.
This guide breaks down both options side-by-side to help you make a smarter decision:
https://dreamhomemortgage.com/should...personal-loan/
Would love to hear what others have chosen and why.
I’ve noticed many homeowners asking whether it’s better to refinance a mortgage or take out a personal loan for things like home improvements, debt consolidation, or covering large expenses. The answer really depends on your current interest rate, credit score, home equity, and how much you need to borrow.
Refinancing may offer lower rates but comes with closing costs. A personal loan is faster, but often has higher interest. Choosing wrong could cost thousands over time.
This guide breaks down both options side-by-side to help you make a smarter decision:
https://dreamhomemortgage.com/should...personal-loan/
Would love to hear what others have chosen and why.
