Mortgage refinancing

MarkClair

I consider refinancing my first mortgage which was taken for our first home. It's a 30 year fixed conventional mortgage at 7%. The balance of the loan is $195,000. My credit score is in the low 700's.

Does it make sense if I refinance it at a lower interest rate?

I don't want to refinance it with the same lender. Hope to get a better deal from a different lender. I heard that Aspire FCU at New Jersey offers good mortgage services. I need to have a talk with them.

Before that I need to get some advice from you all. Can I consider refinancing? What do you think?
Any help will be greatly appreciated! Thanks.

kingstreet

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