- Lower monthly payments
- Shorter loan term
- Lower interest rate
- Cash out to consolidate debt or make home improvements
Q: What are the different types of refinance options?
A: There are two main types of refinance options: rate-and-term refinances and cash-out refinances.
- Rate-and-term refinances allow you to change the interest rate and term of your existing mortgage.
- Cash-out refinances allow you to borrow against the equity in your home.
Q: How do I know if refinancing is right for me?
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