A mortgage refinance happens when homeowners seek out a new home loan in order to replace their current loan. The reasons why vary from homeowner to homeowner, but traditionally the end goal is to save money on your monthly mortgage payment.
There are many advantages to mortgage refinancing. Borrowers are able to take advantage of their home equity, get a different type of loan, secure a lower interest rate, or even lower their monthly payments. Additionally, it is a great way to help consolidate any outstanding debt, upgrade your kitchen or bathroom, or shorten your 30-year […]