Which Lender
When researching the options for refinancing, people most commonly go directly to their current lender - the one holding the existing loan - to get their quote and refinance.
There are benefits to refinancing with the current lender. The process is much simpler. They know you and your payment history and record. They already have all your information. They know everything they need to know. If you would switch lenders, you would have to go through all the paperwork from scratch.
The benefit of going to a different lender is that they want your business. They will, almost always, offer you a lower interest rate than what the current lender will offer you.
The current lender knows you are staying with him out of convenience, and therefore they can get away with not offering you the lowest rate.
So when you are in the process of refinancing, shop around. Check out other lenders.
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