Mainly, they hope to save on their monthly payments. Keep a copy of your latest credit report at the time of loan application refinance.
Of course, you can ask: what is the difference between an FHA Streamline refinance mortgage and a conventional mortgage?.

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Once you are sure you are ready to "refinance my mortgage," you should know what type of mortgage you want.
If interest rates have fallen enough to offset the added expense of a new refinance loan, you can be smart to refinance.

The mortgage broker Suzie marked its 0.75% interest rate because the lender pays a decrease of one percent for each quarter percent pay too Suzie.

For example, in addition to getting a home loan, you can have an interest only mortgage.