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What are the benefits of a home mortgage refinance?
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The most obvious benefit of refinancing your home mortgage is that you can lower your monthly payments and save money each month. You could also potentially shorten the term of the loan, which would reduce your total interest paid over the life of the loan. Additionally, you may be able to access more favorable terms such as a lower interest rate or a longer loan term. Finally, if you have an existing equity in your home, you may be able to access cash from it by taking out a home equity loan or line of credit.