Was financing Amendment otherwise Refinancing Better in my situation? Refinancing tends to make feel whenever you can get a lowered focus rate, have to availableness the brand new equity of your home, or one another. It’s specifically common in the modern price ecosystem, but it’s not as opposed to the cons: Fundamental Differences when considering Amendment and Refinancing In a number of means, loan mod and you may refinancing is also doing comparable goals – altering the fresh new regards to your own home loan – but they involve completely different procedure. For one, that loan amendment possess your new financing unchanged, when you are an excellent re-finance generally entails starting once again having a new loan.