My little place re refinance
Most commonly, people refinance their mortgage to take advantage of a lower interest rate, allowing them to save money over the life of the loan. Keep in mind, however, that there are usually lender fees and other costs associated with originating the new loan. You will want to make sure therefore that you will actually be saving money from the new loan. The time that you plan to remain in your home is important to consider, as well. Selling your home before you break even on the refinance will end up costing you more money than if you never refinanced your first mortgage.