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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.

Next: Would you like to be matched with up to five mortgage refinance lenders?

 
 
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