Savings Corner

APRIL 4, 2024

What is mortgage refinancing? Mortgage refinancing is when you replace your current home loan with a new one. Just like any other loan, you apply for refinancing, which includes a thorough check of your credit, income, employment history and finances. Ideally, you’ll also get a lower rate in the process.

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Savings Corner

APRIL 4, 2024

Key takeaways Refinancing replaces your current mortgage with a new one, adjusting the rate, term or both. With refinancing, you can change the loan type as well as your lender. Here’s how refinancing a mortgage works, the common options available to you and pros and cons to consider. What is refinancing?

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Savings Corner

APRIL 4, 2024

Income verification: You can provide a pay stub, bank statements, tax returns or even 1099 forms if you’re self-employed. Your scores could improve to the point where you can refinance to a better rate later, which will help reduce your overall monthly payments. Avoid settling for the first offer you receive.

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Savings Corner

DECEMBER 25, 2023

NerdWallet’s Best-Of Award Winner Best Mortgage Lender For Cash-Out Refinancing NBKC: NMLS#409631 5.0 The scoring formulas take into account multiple data points for each financial product and service. It offers a significant volume of cash-out refinancing with unusually low origination fees. Shop around.

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