When Is Refinancing Worth It? | LowerMyBills

For many homeowners, the idea of refinancing your mortgage can sound like a financial cure-all: You submit some paperwork, and then the lender determines if you’re eligible and gives you a different mortgage with new terms — potentially saving you up to thousands of dollars in interest over the life of your loan.

But the details of refinancing are more complicated than that. Before deciding to refinance, homeowners also need to consider the cost of refinancing, and how long they plan to own the home.

Watch this video to get yourself prepared to refinance, when the time is right!

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