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What Is Home Refinancing, Anyway?

April 26, 2017Home refinancing

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What Is Home Refinancing, Anyway?

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Refinancing a home involves getting a new, secured loan to pay off your original loan: in this case, your home mortgage. Deciding if this is a profitable route for you to take depends on the mathematics. Because refinancing involves additional fees, you should determine if the money you save is greater than the additional fees you will incur for refinancing your home. If you don’t want to do the math yourself, BankRate.com has a great calculator on their website to help you make your home refinancing decision here: “Will You Save By Refinancing?