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Refinancing a Mortgage Articles

Refinancing a Mortgage?

Whether you are looking to lower your monthly payments and interest, draw on equity in your home, or build equity faster, refinancing your mortgage may give the flexibility and extra cash you're looking for.

Refinancing usually involves obtaining a new first loan, issued on more favorable terms. This new first loan covers the remaining balance of your mortgage. Ideally, refinancing allows you and your family breathing room with monthly bills or provide extra cash for necessary expenses.

Before refinancing your mortgage, the articles in this guide will help you choose the right type of loan that will meet your financial goals.


Common Mistakes When Refinancing Your Mortgage
Common Refinancing Mistakes

Be aware of the pros and cons of the refinancing process and its various aspects to help avoid problems.

Reasons for Refinancing Your Home
Home Refinancing Reasons

Learn about the most common reasons for refinancing a home: for rates, term, rates and term, and cash-out refinancing.

Related Content

Appraising the Property
Appraising the Property

The appraiser is another referee. He or she will impartially assess the value of the property to make sure the home is worth the price being paid.

What Closing Expenses Should You Expect?
What Closing Expenses Should You Expect?
Closing costs are the expenses of the borrower at the time of closing of the mortgage loan. Read more for specific costs.
Adjustable Rate Mortgage / ARM Indexes Explained
Adjustable Rate Mortgage / ARM Indexes Explained

Overview of the major indexes. Each interest rate index has advantages and disadvantages, and reacts differently in times of rising interest rates or declining interest rates.

Home Loan Pre-Qualification and Pre-Approval
Home Loan Pre-Qualification and Pre Approval

Understand the differences and benefits between pre-qualification and pre-approval.

Mortgage Loan Planning - Customer Document Checklist
Mortgage Loan Planning - Customer Document Checklist
A list of required documentation to expedite your loan process.
Mortgage Basics
Mortgage Basics

Overview of applying and qualifying for a mortgage loan, as well as what to do when an application is not approved.

Mortgage Application Process
Mortgage Application Process

The process of applying for a mortgage loan is actually relatively straight forward.

Interest-Only Mortgages
Interest-Only Mortgages

Interest-only mortgages are not really a type of mortgage. The ability to make only interest payments on a mortgage is an option available on adjustable rate mortgages (ARMs) or fixed rate mortgages (FRMs).

Fixed Rate Mortgages
Fixed Rate Mortgages

A fixed rate mortgage, or FRM, is probably the most simple and easy to understand type of mortgage. It is also by far the most popular mortgage type.

Discount Points Can Lower Your Interest Rate
Discount Points Can Lower Your Interest Rate

Discount points include prepaid interest which if paid by a borrower can offer a loan with lower interest rate for the entire loan term. See the example and tax-deductibility.

Credit Score and Its Importance
Credit Score and Its Importance

Understanding the credit score in a better way enhances your chances to develop a higher score and thus benefit from mortgage loans at better terms and conditions.

Adjustable Rate Mortgages
Adjustable Rate Mortgages

An adjustable rate mortgage, or ARM, is the second most popular type of mortgage behind fixed rate mortgages.

More About Mortgages
More About Mortgages

This article gives details on the types of businesses involved with mortgages, the mortgage lending process, mortgage products, and interest rates.

Refinancing Mortgage Calculators

Basic Mortgage Calculator
Basic Mortgage Calculator
January 2, 2012

Use this calculator to determine your monthly payment and amortization schedule.

Mortgage Loan Calculator (PITI)
Mortgage Loan Calculator (PITI)

Use this calculator to determine your monthly mortgage principal, interest, taxes and insurance payment (PITI) and amortization schedule.

ARM vs. Fixed Rate Mortgage Calculator
ARM vs. Fixed Rate Mortgage Calculator

Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.

Fixed Rate vs. Interest Only Mortgage Calculator
Fixed Rate vs. Interest Only Mortgage Calculator

Use this calculator to compare a fixed-rate mortgage to an interest only mortgage.

Mortgage Comparison Calculator: 15 years vs. 30 years
Mortgage Comparison Calculator: 15 vs. 30 years

Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.

Mortgage Payoff Calculator
Mortgage Payoff Calculator

Save thousands of dollars in interest by increasing your monthly mortgage payment.

Mortgage Points Calculator
Mortgage Points Calculator

Should you buy points? Use this calculator to find out.

Mortgage Refinance Breakeven Calculator
Mortgage Refinance Breakeven Calculator

Should you refinance your mortgage? Use this calculator to determine when you will breakeven!

Refinance Interest Savings Calculator
Refinance Interest Savings Calculator

Use this calculator to see how much interest you can save by refinancing your mortgage!

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