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Refinancing may refer to the replacement of an existing loan for other loan under different tems without fee. The terms and conditions of refinancing may vary widely by country, province, or state.

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12y ago

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If you have a second loan on your mortgage can you refinance on just the primary loan?

Normally you can. You will have to get the Lender on the Second Mortgage to "SUBORDINATE" the loan for you. They may charge a small fee to do so. Your Title company can help you.


What does refinancing actually mean?

Refinancing your home loan is where you take out a new home loan to pay off your existing one. You can either refinance by taking out a loan with a new bank or you can refinance to a new loan from your existing lender.


Who does one talk to to refinance a loan?

If you want to refinance a loan, discuss it over with the company/people who you had a loan with in the beginning. Whoever you financed a loan with first, refinance with them again.


How do you get ex boyfriends name off joint auto loan?

You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.


What does it mean to refinance an auto loan?

If you refinance your auto loan you are most likely going to save a lot of money. However most people do not know this. You pay off your current car loan with a refinancing car loan from a different lender.


How do you refinance a loan?

There are multiple ways to refinance a loan. Most of the time a person would call their institution and make the request. This might come with a fee. Another way is to seek out a different institution with a better rate and term. Do your homework before approaching institutions.


What does it mean to refinance a mortgage or loan?

To refinance a mortgage or loan means to replace an existing loan with another loan. The new loan usually has better terms, such as a lower interest rate. The new loan is used to pay off the old loan, and one makes payments under the new terms.


Can a lender charge a 500 dollar up front fee to lock in an interest rate on a refinance loan?

They can charge a commitment fee or a lock fee, most certainly. Not everyone does it but it depends on the lender, it is not uncommon though.


What is a decent amount to pay for a refinance fee?

When you refinance, you pay off your existing mortgage and make a new one. You might even choose to combine a primary mortgage & a second mortgage into a new loan.


Can you refinance a land loan?

Yes, you can refinance a land loan by obtaining a new loan with better terms to replace the existing one.


How do refinance companies generate revenue?

Refinance companies generate revenue by charging fees for their services, such as loan origination fees, closing costs, and interest rates on the new loan. They may also earn money through selling the loans to investors or by servicing the loans for a fee.


What are the benefits of a no fee refinance mortgage?

A no fee refinance mortgage can save you money by eliminating upfront costs such as application fees, appraisal fees, and closing costs. This can make refinancing more affordable and potentially help you lower your monthly mortgage payments or pay off your loan faster.