Blog > What Are the Advantages of Refinancing a Mortgage?
Refinancing can lower monthly payments, shorten loan terms, or convert equity into cash for renovations or investments. It’s particularly beneficial when interest rates drop or your credit profile improves. However, refinancing isn’t free — closing costs and fees should be weighed against long-term savings. Homeowners should calculate the “break-even point” to determine whether refinancing makes financial sense. It’s a powerful tool when used strategically.
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