What is Mortgage Refinancing?

Mortgage refinancing is the process of making favorable changes to the original loan with the intent of reducing the mortgage rate and saving money on the monthly payment.

Costs of Refinancing:

Costs depend on the loan amount, your credit score, your home equity, mortgage term, mortgage type, your lender, and your location.

Type of Refinancing:

Qualifying Requirements:

Since you’re replacing your current mortgage, you’ll complete a new home loan application and re-qualify for the home mortgage.