A Champion^® guide to mortgage refinancing.

When you refinance, you take out a new mortgage with a lower rate or more favorable terms, and use it to pay off your old loan. As a result, refinancing could save you a substantial amount of money over the course of the loan.

Traditionally, mortgage refinancing was valuable only if you could lower your interest rate by 2%. Today, that isn't the case. You need to consider more than just an interest rate.

Why should you refinance?

• Lower your monthly mortgage payment
• Save money for other uses
• Consolidate debt
• Build home equity faster
• Protect yourself from fluctuations in the economy

These are all good reasons to consider refinancing. In this section, find out how to determine whether it's time for you to refinance and learn more about the benefits of mortgage refinancing. Use our online refinancing calculators to help guide your decision.