TermLoans & mortgages
Rate-and-term refinance
Refinancing only to get a lower rate or a different loan length, without pulling out cash.
Watch out for this
The classic money-saver: drop your rate, keep the same balance.
About this entry: short by design — every term in The Money Translator gets a one-sentence definition and a one-sentence reason to care. Some terms get deeper guides under the work.