There are a number of reasons for refinancing your mortgage besides taking advantage of today’s best refinance rates. If you’re asking the question Should I refinance my mortgage, you can answer this question based on how much you’re going to pay closing on the new home loan. If your reasons for refinancing justify the cost(depending on your reasons you might not recoup your closing costs) then a mortgage refinance probably makes sense in your situation. Here’s an article from MortgageLoan.com with 7 common reasons for mortgage refinancing:
What can refinancing a mortgage do for you? Although saving money is the obvious answer, there are a lot of ways to do that, depending on what your personal goals are, and various options for doing so.
http://www.mortgageloan.com/saving-money-refinancing-8814
No matter what your reason for a mortgage refinance you can reduce your out-of-pocket expenses simply by shopping around for the lowest fees. Most homeowners overlook fees because they get caught up on finding the lowest refinance rates; however, loan origination fees and closing costs are negotiable and vary across lenders.
You can learn more about negotiating for lower interest rates and fees on your mortgage refi by checking out my free Underground Mortgage Videos.
My name is Rob Regehr and I’m a personal finance writer with a chip on my shoulder for banks and brokers that take advantage of my friends and neighbors.
