Refinance basics: when it makes sense (and when it doesn’t)

Here’s a quick, plain-English breakdown.

• Lower rate isn’t the only win—payment, term, and total cost matter.
• Run a break-even: how long until savings cover closing costs?
• Consider term changes (30→15, or 30→20) to build equity faster.
• Keep your goals simple: lower payment, pay off faster, or access cash.

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