When is a good time to refinance your mortgage?

  1. When rates drop and you can save on your rate is a great reason to refinance.
  2. When you are wanting to use the equity in your home to do repairs or payoff debts.
  3. What we always try and encourage when someone refinances is a rate and term reduction. If you can lower the term of your loan at the same time you are lowering the rate is the ideal situation.
  4. If you are wanting to lower your payment of your mortgage is another reason some people refinance their loan.