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Refinancing Home Loan

Refinancing Your Home Loan to Take Advantage of Low Rates

by Skills.Money
in Blog, Personal Finance
Reading Time: 3 mins read
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Home loan refinancing is obtaining a new loan to pay off a current mortgage.

Refinancing replaces your current mortgage with a new one, usually at a lower interest rate. The most common reason to refinance is that your interest rate has dropped since you initially took out the mortgage.

Another reason could be that an individual might be interested in selling the existing home, moving to a different one, renovating the existing property, etc.

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