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So, you have made it through the first few years of home ownership and have some equity built up in the house. Now that you have built up your credit with your first home mortgage, you should look into refinancing to reduce your rate and maybe even take out some cash equity for a vacation or some home improvements. Refinancing your first home mortgage is easy and can be done far quicker than a home purchase loan. Because you are dealing with your own property and not purchasing a new one, refinancing a first home mortgage usually only requires an application, an appraisal, and the collection of some documents to get through processing.
Once you have all of this information submitted, your first home mortgage refinance should make it through underwriting quickly. If you are thinking of refinancing your first home mortgage, speak with a professional mortgage broker or consult with an online mortgage lender. Either will be able to present you with a variety of options for your refinance.