Mortgage Refinance Education

Refinancing replaces an existing mortgage with a new mortgage. A homeowner may consider refinancing to review the current loan structure, change the mortgage term, access available equity, consolidate qualifying debts, finance eligible home improvements, or move from an adjustable-rate mortgage to a fixed-rate mortgage. A refinance is not automatically beneficial for every homeowner. Closing costs, fees, loan term, interest rate, annual percentage rate, property value, income