Refinancing Mortgage Explained

Refinancing a mortgage explained in simple, easy to understand terms. If you've got a mortgage and have thought about refinancing, here's what you need to know. In this video, I explain the concept of refinancing a mortgage, tell you about the three different types of mortgage refinancing options, and teach you how to identify whether or not refinancing your mortgage is going to be a good option.
Have you ever refinanced a mortgage before? What was your experience like? Let me know in the comments.
Special thanks to Grace Maxwell (NMLS#: 1641415) from George Mason Mortgage for answering my questions about mortgage refinancing. If you're thinking of refinancing in the state of Virginia, I highly recommend connecting with her.
Here's the link to contact Grace: www.gmmllc.com/grace-maxwell/
Check out the Practical Personal Finance Podcast: practicalpf.buzzsprout.com/
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FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOT LEGAL OR FINANCIAL ADVICE. The information provided in this video and on this channel is for educational and informational purposes only. It is not intended to be a substitute for legal or financial advice that can be provided by your own attorney, accountant, and/or financial advisor. Practical Personal Finance accepts no liability whatsoever for any losses or damages arising from your own personal financial decisions. You are advised to consult with your financial advisor, tax professional, or attorney regarding any and all financial decisions involving your own income and taxes.

[@delaw2xoxo269]

JUST WANT TO THANK YOU FOR ACTUALLY EXPLAINING THIS BECAUSE WHENEVER I WOULD ASK WHAT IT MEANS PEOPLE WOULD JUST SAY OOH ITS WHEN YOU GET A BETTER INTEREST RATE..SMH🙂

[@TradingWithCJ]

Congrats on 1k subs man! Great video, loads of good info and insight 👊🏼

[@PracticalPersonalFinance]

Appreciate it! :D

[@juicebox86]

Wow. 17k subs in 2 years! Very impressive!

[@esayasgeleta8646]

You explained it in an excellent way and that helped me to understand the concept better.

[@FrankStJohn-xw2wu]

HAPPY 1000 SUBSCRIBERS!!!!! SO PROUD TO BE A DAY ONE!!! CONGRATULATIONS MAN

[@PracticalPersonalFinance]

Thank you Frank!!! Couldn't have done it without your support!!!

[@hyagosilveira987]

Can you make a video about other ways to tap into your home equity such has a heloc and cash out and any others there might be and what they mean

[@HungTran-ue8su]

great vid

[@slydoskibelieveinc.7748]

Well done bro👍

[@PracticalPersonalFinance]

Thanks ✌️

[@prettynatural1973]

🎉thank you

[@heron123100]

What happens to your principle paid off when you refinance? For example if I purchased at 300k and held on to it for 1 year and now owe 295k because I paid off 5k in principle do I start again at 300k or do I start at 295k when I refinance?

[@simarpreetsingh3533]

I’m here with the same question 🙃

[@MidwestBoxin]

295