{"specialty":{"slug":"refinance","category":"borrower_situation","label":"Refinance","description":"Homeowners replacing their current mortgage: a lower rate or term (rate and term), taking cash out of their equity, or refinancing to remove a co-borrower, such as buying out a former spouse.","synonyms":["refinance","refinancing","refinances","refi","refis","cash-out refinance","cash out refinance","cash-out refi","cash out refi","rate and term refinance","rate-and-term refinance","streamline refinance"],"why_hard":"Whether a refinance pays off depends on closing costs, how long you keep the loan and the new rate; cash-out and buyout refinances have their own equity, seasoning and title rules.","questions_to_ask":["What are my total closing costs, and how many months until the lower payment pays them back?","Can I take cash out, and how much equity do I need to keep?","If I am buying out a former spouse or co-owner, what does the divorce decree or agreement need to say?"],"canonical_url":"https://lendb.ai/s/refinance","api_url":"https://lendb.ai/api/v1/specialties/refinance"}}