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How does refinancing mortgage lower my expenses?

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3 Responses to "How does refinancing mortgage lower my expenses?"

  1. Matt K says:
    If for instance you choose the same mortgage type but get a lower interest rate, it lowers your monthly payment.

    You can also refinance into a different mortgage type. Different types of mortgages require different paymount amounts – but be careful of adjustable rate mortgages that start out fixed.

  2. Diane says:
    If you refinance at a lower interest rate, or over a longer period of time, your monthly payment will be lower.

    Be careful though. Going from a 10 year mortgage to a 20 year mortgage, for example, just means you pay 10 years worth of interest. Also be wary of adjustable rates.

  3. Anthony D says:
    Going for refinancing mortgage can lower your expenses by giving you lower interest rates. Source: http://www.whataboutloans.com/mortgage/mortgage-refinance-loans.html

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