En español | Q. How can I refinance my mortgage at today's lower rates without paying thousands in settlement fees?A. Instead of a mortgage refinance — with settlement costs that are typically 3 to 6 percent of the loan amount — consider a home equity loan (HEL) if you've accumulated substantial equity. Qualified borrowers can use this kind of loan to pay off a mortgage balance and enjoy an interest rate comparable to what would result from a mortgage refinance but with no, or very low, settlement costs.
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