With mortgage refinancing, you can pay off an existing mortgage loan with a new one, usually with a different interest rate, term, or repayment schedule. Refinancing helps you obtain a better financial deal, such as a lower interest rate, a shorter repayment period, or a more flexible repayment plan. Refinancing is excellent if you have seen mortgage rates increase or have experienced a change in your financial situation, making your current mortgage payments difficult to manage.
23 May 2023
