The interest rate when refinancing a professional lawyer’s home loan can vary depending on several factors, including the borrower’s credit score, debt-to-income ratio, loan-to-value ratio, and the market conditions. Typically, the interest rate on a refinance loan is lower than the original mortgage rate, but it can also depend on the type of loan and the lender’s policies. Professional lawyers should compare interest rates from different lenders and evaluate the overall costs, including fees and closing costs, to determine if refinancing is worth it.
