Mortgage Refinancing: What Is It And How Does It Work?
Savings Corner
APRIL 4, 2024
To refinance a mortgage, you’ll pay between 2 and 5 percent of the loan amount in closing costs, so if you’re refinancing to save money, you’ll need to calculate your break-even point. You could lower your mortgage payment and create more space in your monthly budget. You could tap into your home’s equity and take cash out at closing.
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