Local Mortgage Information for Your Area
What is Mortgage Refinance?
Refinancing is simply paying off an old mortgage with the proceeds of a new
mortgage. Usually this is done with different (and ideally better)
interest rates or
terms.
Refinancing should not be confused with getting a
second mortgage, although there are some similarities, especially when exploring the benefits of
cash-out refinancing.
To quickly see how refinancing works and what it can do for you, try experimenting with a
refinance calculator.
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