Consider the total interest expense as well as the new interest rate and payment.
Lower Monthly Payment
With a lower monthly payment, you can use your money to cover other important debts or expenses.
Lower Interest Rate
Refinance your home loan with a lower rate can save you thousands over the life of your mortgage.
Drop Mortgage Insurance
If you have 20% or more equity in your home, you can refinance into a conventional loan and drop your mortgage insurance and lower your monthly payment.
Get Cash From Equity
Use cashback from your home refinance for home improvements or to simply consolidate debt.
Pay Off Mortgage Sooner
Refinance with new terms or a lower interest rate to pay off your mortgage fast.
