What is a refinance

A refinance is getting a new loan for your house.

As part of the new loan you pay back your old loan.

There are a bunch of great reasons to refinance your loan:

  • Get a lump sum of cash – “Cash out Refinance”
    • Make a home repair or upgrade
    • Investment or savings
    • Vacation, Medical bills, retirement – Any place where cash would be useful
  • Lower your mortgage payment
  • Lower your mortgage rate
  • Pay off loan faster

You can also refinance into a new loan and get more then one. For example you could get a cash out refinance, lower your mortgage payment and your mortgage rate.

Here are some of the top Lenders who can help you get a new home loan also known as a mortgage refinance – But there are a lot of options out there so make sure to look around.

Quicken Loans – https://www.quickenloans.com

Wells Fargo – https://www.wellsfargo.com

HSBC – https://www.us.hsbc.com/

Bank of America –https://www.bankofamerica.com

JP Morgan Chase – https://www.chase.com/

LowerMyBills – https://www.lowermybills.com/