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As the years go by, your financial needs and priorities may change and ideally your home loan should change to reflect your new requirements. If you have a mortgage on your home for one year or more it is probably a good time to review your mortgage options. In today's market, if you're planning to stay in your home for a while, and you find a good deal on refinancing costs, it may be worthwhile to refinance with as little as a 0.5% lower rate, refinancing involves many of the same steps you took when obtaining a mortgage the first time around.
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