|When you refinance, you start the loan
process over, which means you will be asked to make an application
and then undergo a credit check, title search, appraisal and so
on. You will incur closing costs just like the first time around.
You may be asking:
What Are The Costs Of Refinancing?
|But, a low rate isn't the only reason you should consider
refinancing. It can also help you:
1. Lower your monthly payment
2. Pay off your mortgage more quickly
3. Consolidate debt