What is a mortgage refinance and how it can help you.
- A mortgage refinance allows you to change the terms of your existing mortgage.
- A term change can allow you to lower your interest rate, shorten the length of your mortgage and/or gain the ability to pull equity from you home.
- A refinance can help you do a few things depending on your goals.
- Save money
- Pay off your mortgage sooner
- Pay off existing debt other than your mortgage
- Have cash to pay to use for other purposes