With mortgage rates at an all-time low, this is a great time to reach out to your favorite mortgage lender to discuss refinancing. Depending on how long you have been in your house and what your interest rate is, it might be possible for you to refinance to a lower rate, a shorter term and reduce your monthly payment all at the same time. Does all of that sound good to you? Discuss your specific situation with your mortgage lender to determine what makes the most sense for you.
One thing to remember is that there will be some closing costs to accompany refinancing your home but your savings will cover them quickly. However, if you are planning to sell your home this year, it may not make sense to refinance as you aren’t likely to recover those expenses
…