ben hedges: refinance your mortgage: how i saved $38,000, refinancing explained, lower interest rates, and save money

Check out Webull (2 free stocks): Credit Shifu Wallets: Like Credit Shifu on FACEBOOK: Refinancing Explained Hey Credit Warriors, in this video I am going to show you how I was able to save $38,000 over the life of my mortgage, which works out at over 1100 a year, that could equal an extra vacation each year, almost $100 in extra spending money per month, 12.5 more of my signature $8 coffees per month and this is through process called refinancing and in this video I am going to explain everything you need to know about it so maybe you can do it too! If you like the sound of that, smash the like button for the youtube algorithm and why not subscribe so you never miss a video! So this is my house, I bought it almost 2 years ago for $245 thousand dollars at a 4.5% interest rate. Now I want to refinance it. So what is refinancing, here is the definition from Investopedia: A refinance, or "refi" for short, refers to the process of revising and replacing the terms of an existing credit agreement, usually as it relates to a loan or mortgage. And this could be with the same company, or could involve opening a new loan with an new bank and having them pay off the previous loan completely and now you pay the new bank each month. So with my house for example, after I agree the terms of the loan with the new bank, they will write a check to the original bank and pay off that loan and then I will be paying their new loan each month instead. SONG FROM OUTRO Track: Halcyon & Valentina Franco - Runaway (Heuse Remix) [NCS Release] Music provided by NoCopyrightSounds. Watch: youtu.be/5bj44xI2oWw Free Download / Stream: ncs.io/RunawayHeuseRemix NOTE: The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Advertiser Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers.