What is refinancing?

User Avatar

Wiki User

โˆ™ 2009-02-02 09:30:07

Best Answer

Refinancing a loan means that you are essentially paying off your mortgage with a new loan. Refinancing is often used to change your loan from an adjustable to a fixed rate and can be a way to lower your monthly payments or take cash out of your home's equity. The process of refinancing is very similar to getting your original mortgage.

User Avatar

Wiki User

โˆ™ 2009-02-02 09:30:07
This answer is:
User Avatar
Study guides
More answers
User Avatar

Wiki User

โˆ™ 2011-08-08 18:34:27

Paying off of an existing mortgage loan obligation by extending or renewing existing financing or taking on a new loan obligation under different terms.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is refinancing?
Write your answer...
Still have questions?
magnify glass
Related questions

What are some FHA refinancing options for homeowners?

There are a number of FHA refinancing options for homeowners. These include cash out refinancing and streamline refinancing which allows you to reduce the interest on your home quickly.

Where can one find mortgage refinancing in Jacksonville?

Mortgage refinancing in Jacksonville can be done at any local bank. Refinancing can also be done at mortgage refinancing specific places such as Jacksonville Mortgage and American Equity Mortgage.

How do I go about refinancing my mortgage?

Refinancing is something you should research to make sure it will benefit you. The best thing to do is talk to you lender to see if you will benefit from refinancing.

What exactly is California refinancing?

California refinancing is mortgage rates that are only in California. You can contact banks and financial institutions there for their rates on refinancing your mortgage for your home or business.

Where would someone seek advice on refinancing?

While there are lots of places out there to get free quotes on refinancing, it is best to talk to your bank or a mortgage expert if you are planning on refinancing your home. Your bank can give you great advice if you are refinancing your auto loan.

Where can one find information about refinancing costs?

One can find information about refinancing costs from government-hosted websites. These websites contain abundant information on refinancing and its costs. In addition, one can ask one's peers for information and get tips on refinancing.

How can I lower my mortgage through refinancing?

Mortgage refinancing is a good way to lower your mortgage. Refinancing brings your payments down by finding a better loan. Refinancing allows you to have lower monthly payments which will allow you to pay off your loan faster.

What websites have refinancing calculator tools?

Many websites have refinancing calculator tools. Consult with an economic advisor to find the best refinancing calculator for you. Or look at bank websites.

Where can you find refinancing companies in California?

You can look for mortgage companies that offer refinancing. Also another option would be to look at banks and see if they offer refinancing and what their rates are like.

Where can you go for online loan refinancing?

There are lots of online resources for loan refinancing. The most famous are e-Loan and Lending Tree. Just google for 'online loan refinancing'.

Main Refinancing Operations?


Does refinancing transfer title?


People also asked