NEWSLETTERS
Mortgage refinancing is the process of replacing an existing home loan with a new one, often to secure a lower interest rate, reduce monthly payments, switch loan types, or access home equity. Homeowners refinance for various reasons, such as saving on interest costs, shortening their loan term, or consolidating debt. There are different types of refinancing, including rate-and-term refinancing, cash-out refinancing, and cash-in refinancing. While refinancing can offer financial benefits, it also comes with closing costs and eligibility requirements based on credit score, home equity, and market conditions. Evaluating the long-term savings versus upfront costs is essential in determining whether refinancing is the right financial move.