refinance

What is mortgage refinance?

 

What is mortgage refinance?

The Bankrate.com financial term of the day is: "mortgage refinance."

In a mortgage refinance, you end a relationship with a home loan because something more attractive has come along. Your dump your old loan by paying it off with a new loan more to your liking, maybe because it offers a lower interest rate, lower monthly payment, or the opportunity to take some cash out of your equity -- to redo your 1970s harvest gold kitchen.

You don't have to stay married to your mortgage but can divorce it for something better by doing a mortgage refinance.

To find the best mortgage rates, visit the rate tables at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Flat-rate car towing as needed

Goodyear has introduced a roadside assistance program where you pay a flat rate whenever you need a tow with no annual fee.  ... Read more


Connect with us