It’s possible, but you might not get the best rates or terms. Working on improving your credit before refinancing can help.

Costs may include exit fees, application fees, and legal fees, but many lenders offer incentives that reduce or waive these.

You should review your loan every few years or when your financial situation changes, but refinancing too frequently may incur fees.

Refinancing involves switching your existing home loan to a new lender or a different loan product, often to get a better interest rate or loan features.

You might refinance to get a lower interest rate, access better features (like offset accounts), or consolidate debts.