Second, the cash proceeds are typically first used to pay closing costs and other upfront expenses like property taxes and
homeowners insurance, so you won't always receive the full difference
between your new loan amount and your
old loan amount.
An Insurance.com survey of data from six major insurance companies in every U.S. ZIP code found the average difference
between the cheapest and least expensive quotes for the same driver and car (a 40 - year -
old homeowner with a clean record buying full coverage on a new Honda Accord with a $ 500 deductible and 100 / 300/50 liability limits) was $ 1,144.