Home Refinancing: What Is It and How Does It Really Work?
Posted by Robert DeFalco on
Home refinancing can get tricky, especially in the wake of rising interest rates. If you’re also looking to tap your home’s equity, you’ve come to the right place. People consider refinancing their mortgages for many different reasons. So, whether you’re unhappy with your current loan or are looking for more flexible terms, we have you covered.
Here’s everything you need to know about refinancing your mortgage.
What Is Mortgage Refinancing?
Mortgage refinancing refers to replacing your existing mortgage with a new one. The new loan may be accompanied by different requirements and terms. It may also have a completely new outlook on repayment.
However, a common change is the new interest rate, which is usually the reason most people choose to…
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