How does refinancing mortgage lower my expenses?

Question by Ava D: How does refinancing mortgage lower my expenses?

Best answer:

Answer by Matt K
If for instance you choose the same mortgage type but get a lower interest rate, it lowers your monthly payment.

You can also refinance into a different mortgage type. Different types of mortgages require different paymount amounts – but be careful of adjustable rate mortgages that start out fixed.

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