Things to consider before refinancing:

1) The Interest Rate You Are Paying
Consider the interest rate you are now paying before refinancing. Compare it against the current interest rate to see how much you would save by mortgage refinancing. Use our free mortgage calculator to determine your new monthly payments. (Use our Mortgage Calculator)

2) The Current Interest Rate
Check the current interest rate. To get the benefits of a lower rate, you may have to pay fees associated with the loan, unless your lender is doing a no fee loan. Before committing to a refinance, be sure you have discussed the fee options with your loan officer. [Get the Current Mortgage Refinancing Rates]