Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Refinance Tips and other Mortgages topics.
Refinancing is paying off your existing mortgage and taking out a new one.
Why should you refinance? Here are some reasons:
* Obtain a lower mortgage interest rate and lower your monthly payment.
* Build equity faster.
* Change your loan.
* If you have improved your credit history and rating, you may want to refinance. It should lower your costs.