The former saves you more in interest, while the latter can free up money in your budget to roll into paying down other debts. (cnbc.com)
Living within a budget right now will help you save money for down payments while also paying down other debts that might be holding you back. (simplifyingthemarket.com)
Benefits to refinancing can include a lower monthly payment or a cash payout on existing equity, which can be used for paying down other debts or making home improvements. (creditsesame.com)