When is the best time to refinance my mortgage?
The best time to refinance is typically when interest rates drop significantly below your current rate or when your credit score improves.
What interest rate should I look for to make refinancing worth it?
A good rule of thumb is to look for a rate at least 0.5% to 1% lower than your current rate.
Are there any costs associated with refinancing?
Yes, refinancing can involve closing costs, which may include application fees, appraisal fees, and title insurance.
How long does the refinancing process usually take?
The refinancing process typically takes 30 to 45 days, but it can vary based on the lender and your specific situation.
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