When is the Best Time to Refinance Your Home Loan?
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The best time to refinance your home is when a refinance will help you to achieve your goals. For example, if your goal is to lower your monthly mortgage payment, you may consider refinancing into a lower interest rate loan, where available. If you'd like to remodel your house, it may be worth refinancing your home to capitalize on some of the equity you've built, as opposed to paying for it out of pocket. Other homeowners may refinance to a short-term loan, if your goal is to pay off your home sooner. The best time to refinance will be when a refinance helps you to achieve the goals you have set for yourself.