In industry terms, a mortgage refinance represents the restructuring of an existing loan’s terms to different parameters. However, in reality, a mortgage refinance can mean new possibilities and greater flexibility for homeowners who have an existing loan. By refinancing your mortgage, you may enjoylower monthly payments, which can free up funds for other investments or purchases. However, finding the best conditions for a mortgage refinance can be tricky, so it helps to find a trusted partner that has experience gauging the market and connecting homeowners with more attractive loan terms. Homeowners most often resort to a mortgage refinance as a way to save money on their monthly payments. This can reduce interest rates, thereby successfully reducing what borrowers pay each month and over the life of the loan.