Refinancing is a financially smart move. Save money by refinancing to a lower interest rate, or by refinancing to a shorter-term mortgage to reduce the interest you pay over the life of your mortgage. You can consolidate high-interest debt into one easier and lower monthly payment or you can convert your home’s equity to cash. Use those extra funds to make a home improvement, pay off credit cards, finance an education or make any other major purchase. It’s fast and easy.