What is Mortgage Refinancing?

Refinancing can knock thousands of dollars off your total mortgage cost and years off the loan term so that you can own your home sooner and for less. What is refinancing? Refinancing is the process of replacing your current mortgage deal with a new one. Why Refinance? The main reasons for refinancing are: To take advantage of a new interest rate or competitive offers with a new lender To take advantage of product features that are not available from your current lender To secure additional funds that may not be available from your current lender