Blog > How Does Refinancing a Mortgage Work?
Refinancing replaces your existing mortgage with a new one—usually to lower your rate, shorten your term, or tap into equity. You’ll go through a similar process as your original loan: application, appraisal, and closing. The key is to calculate whether the long-term savings outweigh the upfront costs. Done strategically, refinancing can reduce monthly payments or accelerate equity growth.
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