Should you Refinance your Mortgage?

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To Refinance or not to Refinance?


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Should you refinance your home mortgage?

Reasons to Refinance

Lower Your Mortgage Rate
Refinancing your home mortgage makes a lot of sense. The obvious reason is to lower your interest rate. With interest rates so low right now, we recommend refinancing in almost every case (exceptions if financial stability or planing is in question, etc).

For most people, the consistent and timely payments on their current mortgage makes it possible to easily get a refinance and save BIG. Other factors -such as an improved credit score from timely credit card and auto payments can yield an even better rate!

Just one-half of one percent difference on your mortgage rate can literally save you thousands of dollars in payments.

Immediate Cash from Equity
As your home appreciates in value, it may make sense to use your new equity to get cash through a refinance for a variety of purposes. You could build an addition to your home (adding more value), pay for college, invest in a new business, consolidate your high interest consumer debt, or simply take a much needed vacation.

Debt Consolidation
Do you have balances on your credit cards that eat into your spendable income every month? Why not refinance and pay off all your credit cards? One mortgage payment that is tax deductable will save you time and money.

Or, if you would rather not use your equity to pay off high-interest credit card debt, find out about other Debt Consolidation options.

Be sure to ask the following in order to decide on the best refinance lender:

  • What is the term of the mortgage note?
  • Is there a pre-payment penalty?
  • What are the closing costs- recurring and non-recurring?
    Ask what the difference is to be sure you're on the same page...
  • Do you require any money up-front? If not, then ask how to get your deposit back if you are not approved. You'll want this spelled out to avoid hassle later.
  • How long is the rate good for?
  • What is the maximum amount of money I can borrow based on my home's value and my credit score?

You can get the answers to all your questions quickly, securely, and professionally by using a refinance quotes service that will scour the refinance lenders for the best deals.

If you feel you're ready to look at refinancing or simply want to "test the waters", consider getting a quote from LowerMyBills. From one, simple and quick form you will receive the 4 best refinance quotes from local and respected lenders.

Specific quotes Quotes and Mortgage Quotes Reviews:

Home Equity Loans Mortgage Quotes
Refinance Quotes



It's as simple as 1-2-3:
  • First -
    *The BEST lender comparisons of any online service!
  • Last - Review all of the great options presented to you and then pick the one
    that saves you the most money. It doesn't get any more simple than that!

We hope that we can be your gateway to the best financial decision you'll make all year! Information provided as a service and we are in no way affiliated with reviewed lenders.

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