The primary consideration in refinancing your home is to lower your interest rate. By doing so, you can lower your monthly payments or adjust your term to dramatically reduce the cost of the loan over its lifetime. Refinancing does involve another closing because the lender is issuing a new loan with revised terms and risks. Generally a “break-even” amount is calculated comparing your costs to refinance vs. your monthly savings. It then becomes a financial decision as to how long you plan to be in the house vs. your breakeven and the potential monthly savings generated. We have a number of very qualified loan officers we can refer who can educate you and walk you through the entire process. Click here for referral form.