Get another mortgage company is not always to get a lower interest rate for your mortgage refinance loan. It is also to protect themselves against unscrupulous practices and bullying tactics of mortgage companies.

This difference between the interest rate is large enough that it is likely to make for what you will pay in refinancing costs.

This allows you to finance your finishing costs and minimizes the money you will need to compact to close on your home.

When you refinance, mortgage rate is less than what you paid for your original mortgage.
Some borrowers often get a refinance rate home loan to modify the variable interest rates to fixed.

Another reason that people look at refinancing to shorten the term of the loan.