When you refinance your home, you're replacing your existing mortgage with a new one that, ideally, has a lower interest rate, better terms, or both. While this can lower your mortgage payment, you ...

Key takeaways One of the most common mortgage myths is that refinancing is free. However, you’ll need to pay fees, usually ...

Jake Safane has nearly 15 years of journalism and marketing experience on topics ranging from local entrepreneurship to international banking. He has written for publications such as The Economist ...

Part of determining if a mortgage refinance is practical is weighing the balance between its benefits and costs.

A 15-year mortgage refinance is a new home loan that replaces your existing mortgage and is paid off in a 15-year span. Keep in mind that if you currently have a 20- or 30-year term and choose to ...

The key difference is that, with a simple refinance, you can defer closing costs by rolling them into the mortgage and paying them back over the loan term. An FHA simple refinance does have more ...

Mortgage foreclosures are public records, and they remain on your credit report for seven years. This can make it much more ...

Refinancing a mortgage is when you take out a new home loan to replace your current loan. And if you bought your home when interest rates were higher, refinancing could be a way to save on your ...

For potential savings, you should consider refinancing your home when interest rates fall significantly below your current mortgage rate. Do you want lower interest rates, a shorter loan term ...

With a mortgage refinance, you’ll have a new mortgage with new terms and conditions. Refinancing allows you to tap into your home equity to release cash for other projects like home renovation ...