How to refinance
If you are already a homeowner, refinancing will feel like deja-vu. The refinance process is very similar to applying for your first purchase mortgage. When you apply, you will still need to qualify for your specific type of mortgage, secure an interest rate, and cover closing costs as necessary.
Using our mortgage refinance calculator, you can get a fairly accurate idea of what a refinanced loan may look like for you. If you have decided that refinancing is the right option, there are some simple steps to ensure that you get the most from your refinanced mortgage.
When applying to refinance your mortgage, make sure that you consider the following:
- Determining your financial goals
- Shopping around for the right type of mortgage
- Talking to a mortgage lender for the best interest rates
- Securing your interest rate
- Agreeing upon loan terms and finalizing your loan