- Homebuyers
- July 2, 2025
Why Homeowners are Refinancing Their Mortgages Despite Higher Rates
Even if you have a low rate on your mortgage, there are some situations where refinancing your existing loan makes sense.
Contributing Writer, New American Funding
Rachel C. Murphy is a writer and editor with a keen interest in financial topics. Over the course of her 15-year career, her byline has appeared in Investopedia, Money, Forbes Advisor, Verywell Health, and USA Today Home. She is dedicated to making financial topics accessible for every audience.
Even if you have a low rate on your mortgage, there are some situations where refinancing your existing loan makes sense.
Homebuyers using Conventional loans may be able to use down payment assistance to help them to afford a home.
Your home is likely your largest financial asset, so maintaining its structural integrity should be a priority. While home renovations often bring issues to light, a few seasonal chores will help you spot issues before they become problems.
Homeowners who need a lot of cash may want to consider a cash-out refinance over a personal loan.
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