Mortgage Refinance Options: Refinancing Your Home Loan May Make Sense Loan Types | Refinancing your mortgage means replacing your current home loan with a new mortgage. Depending on your goals and financial situation, refinancing may help you change your interest rate or loan term, potentially lower your monthly payment, access home equity, or consolidate certain higher-interest debts. But refinancing isn’t automatically the right move for every homeowner. The costs of a new mortgage, your current loan terms, how long you



