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Q: Should I refinance my existing loan?
People refinance their existing loans for a number of reasons including obtaining a lower interest rate, to save on monthly payments and to change the term of the loan. People also choose to refinance if they want to switch from an adjustable rate to a fixed rate or to consolidate debt by refinancing for a higher loan amount and using the difference to pay off other debt. To see if it makes sense to refinance your loan, try our Refinance Calculator.
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