When eliminating mortgage insurance fees. For many homeowners, refinancing to a conventional loan and removing private mortgage insurance (PMI) makes mortgage refinancing worth it, especially with long-term savings in mind. When you want to access your home equity. A cash-out refinance can be wort...
Just because you are getting a lower interest rate on your refinanced mortgage doesn’t mean that you will pay less in total interest on it. For example, refinancing a 30-year mortgage with 25 years left until it is paid off into a new 30-year mortgage means that you might end up pay...