When you refinance, mortgage rate is less than what you paid for your original mortgage.

But if you pay attention to the interest rates they charge on No closing cost refinance loan, you will notice that it is nearly 2% above the average interest rate offered by other lenders.

If you have a good credit score or your home has increased in market value, you can simply meet the criteria of lower refinancing rates.
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It currently has a rate of 8% and paid his payments on time for the past 24 months, since he bought his house.
Since consumer loans with high interest are paid a lower interest payment will go down, or the borrower can pay the same amount they have been accustomed to pay and just pay off the debt much earlier.
In case the calculation is on your side, you can not miss, despite the fines charged.