Table of Contents
- How mortgage refinancing works
- Two main options for refinancing
- What to know before refinancing
- When it makes sense to refinance your mortgage
- Other reasons to refinance
- When it doesn’t make sense to refinance your mortgage
- What to do before refinancing your mortgage
- How to refinance your home loan
- 1. Apply for a refinance loan
- 2. Lock your rate
- 3. Underwriting starts
- 4. Close on your new mortgage
- The bottom line
- FAQs
Money Mortgages
Article updated on Aug 19, 2024
Refinance demand is finally picking up as mortgage rates get cheaper.
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Written by Katherine Watt Writer Katherine Watt is a CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa cum laude from Colgate University with a bachelor's degree in English literature.
Edited by Laura Michelle Davis Editor Laura is a professional nitpicker and good-humored troubleshooter with over 10 years of experience in print and digital publishing. Before becoming an editor with CNET, she worked as an English teacher, Spanish medical interpreter, copy editor and proofreader. She is a fearless but flexible defender of both grammar and weightlifting, and firmly believes that technology should serve the people. Her first computer was a Macintosh Plus.
CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.
Reviews ethics statementOur Experts
Written by Katherine Watt Writer Katherine Watt is a CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa cum laude from Colgate University with a bachelor's degree in English literature.
Edited by Laura Michelle Davis Editor Laura is a professional nitpicker and good-humored troubleshooter with over 10 years of experience in print and digital publishing. Before becoming an editor with CNET, she worked as an English teacher, Spanish medical interpreter, copy editor and proofreader. She is a fearless but flexible defender of both grammar and weightlifting, and firmly believes that technology should serve the people. Her first computer was a Macintosh Plus.
CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.
Reviews ethics statementWhy You Can Trust CNET Money
Table of Contents
- How mortgage refinancing works
- Two main options for refinancing
- What to know before refinancing
- When it makes sense to refinance your mortgage
- Other reasons to refinance
- When it doesn’t make sense to refinance your mortgage
- What to do before refinancing your mortgage
- How to refinance your home loan
- 1. Apply for a refinance loan
- 2. Lock your rate
- 3. Underwriting starts
- 4. Close on your new mortgage
- The bottom line
- FAQs
Written by
Katherine Watt
Writer
Read more from Katherine
Katherine Watt is a CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa cum laude from Colgate University with a bachelor's degree in English literature.
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