Should I Refinance My Home?

Many people ask the same question: Should I refinance my home?  This website is your unbiased and independent stop for information and advice.  After reading this information you may know the answer to that question.  We also help you get the lowest home mortgage refinance rates.  We want to help you get the best terms.  And finally we want you to have the easiest experience when it is favorable for you to refinance!  We concentrate on innovate home mortgage refinance products and financing ideas. Best of all, we are fully independent.  We do not work directly with any broker or provider of home mortgage refinance loan product.  We can truly provide unbiased information and advice about how to get the lowest home mortgage interest  rates.  Our first goal is to answer the common question: “Should I refinance my home loan?”

We have no stake in your choice.  This starts from the initial question of should I refinance my mortgage, to who you choose to refinance with in order to try to get the lowest home mortgage refinance rates.  We are a completely unbiased and independent website.  Thus we can give you information and advice that you can trust.  We do accept comments from mortgage brokers and banks as long as they are on topic and not self-promoting.  We do not accept post and page guest writers however.  Our research is independent and up-to-date.  It is and designed to ensure that a reader knows when to refinance and how to get the lowest home mortgage refinance rates when they do.

Reasons to Ask “Should I Refinance my Home?”

In summary, we will answer:

  • Should I refinance my mortgage now or wait?
  • Should I refinance my home with an independent broker or directly with a bank?
  • When should I refinance my home and take cash back?
  • Should I refinance my mortgage with my current bank?

And much more!

Before We Can Answer “Should I Refinance My Home”

There are some steps that a homeowner can take before she or he can get the answer to the question “should I refinance my mortgage“.  For example, you need to educate yourself about the process and become  aware of certain things related to mortgage refinance rates.  This way you can be aware of times when it might actually make sense to refinance.  Thus this website will also help you get information and advice that helps you become an educated and informed customer before you even make the decision about whether you should refinance your home loan. Thus we offer the following information:

Should I Refinance My Mortgage Glossary

A Refinance Glossary can educate you about the terms you need to know going into the process to both look and feel like an educated consumer.  Mortgage brokers and banks appreciate working with customers who are educated.  This makes their job much easier.  This will also help you ensure you are advocating for yourself as best you can.

Should I Refinance My Home Blog

Our Blog goes over various specific aspects of the process so that you can more fully know about refinancing a home from start to finish.  You may find specific information and advice about some unique situations in our blog.  The blog also covers the scenarios in which you should and should not choose to refinance.  This includes both your own personal factors and external factors.  As we’ve said, we cannot make a recommendation for you without knowing a lot about your unique financial situation.  We can help you know how to make the decision about when to refinance.

These pages should help guide you toward the choice when asking yourself “should I refinance my home?”.  We should also help you know when you should do it if not now.  They will also make you a more educated home mortgage interest rate consumer.  It could be stated that you should always be prepared for your next refi.  In other words, there are many aspects of your financial situation that you need to work on even when home mortgage interest rates do not make it favorable.  This is because there are many aspects of your home mortgage refinance application that you cannot fix quickly.  The best example is your credit scores.

Common Questions Regarding Home Refinances

What Type of Mortgage Should I Get?

At the point where you find that the answer to your question “should I refinance my home” is yes, you need to quickly turn to the question of what type of mortgage you should get.  At this site we will be presenting various kinds of refi types as we explore refinancing a home.  Some of these loans you have likely heard of and some you probably have not. Sometimes the answer to the question, “should I refinance my mortgage” is a bit more complicated.  It may depend on the product you choose or term you decide to go with.  Thus our coverage will include topics such as:

“Part and part” home mortgages

These allow you to pay off your loan in two steps.  The first involves a variable rate that is low.  The second involves a locked in fixed rate that can be higher.  These innovative products are picking up steam and provide an opportunity to get low home mortgage interest rates at least initially.

– Innovative home equity loan products

These products offer some protection against home mortgage refinance rates rising during the course of a variable rate term.  In other words, some banks offer certain protections in the structure of their home equity products lowering the risk a little.  When asking “should I refinance my mortgage?”, many people skip home equity loan because of the potential of rates rising.  This product could provide the hedge.

Assumable mortgages

These products can make it easier to sell your home in the future.  They allow you to pass along your low home mortgage refinance rate.  They are not easy to find or get.  However, when you get the lowest home mortgage refinance rate possible and then rates rise, you may be able to sell your home for more if you can pass along that favorable situation.

– Shorter Term Mortgages

This includes ways to asses the ideal term for your home loan, given the usual choices of 10, 20, and 30 years.  People often underestimate the complexity of this choice.  It is more complicated that just getting the lowest home mortgage interest rates since a shorter term means much higher payments.

If you are asking “should I refinance my home” and the type of mortgage available to you might help provide the answer, the above might help.  But what if it is more about who to refinance with?

Who Should I Refinance My Mortgage With?

Another common question you may have in addition to the question “should I refinance my home?” is exactly how to choose who to refinance with.  We will go over how to choose a broker or bank wisely.  This is true when you want to get the lowest home mortgage refinance rates.  It is also true when you want to avoid up front costs.  Or perhaps you want to know when some costs are worthwhile in the long run because of favorable rates.  There are an abundance of brokers and banks out there that want your business.  The difference in rates can be significant, but that might not be the only deciding factor.

In a related way we want to help you compare specific loan products.  This may include interest only and reverse loans in order to get the lowest home mortgage refinance rates.  Again, the answer to the question “should I refinance my mortgage” is only the first step.  After that you have to decide which product to go with and who will manage your refi.  Here are some posts that cover the topic of choosing either a product or who to refinance with:

  • Should you refinance with a broker or bank that advertises no closing cost mortgages?  Are these products worthwhile, and how should you assess them versus products that have closing costs but lower rates
  • We cover some of the challenges you might face when deciding who to refinance with, including misleading advertisements
  • We directly tackle the question of who to choose for your refinance in a post that provides a well-rounded view

Should I Refinance My Mortgage Now?

Our goal is to give you enough information about loan products and the process in general so that you will know about each type of possible refi before you call a prospective broker. We do not think it is that person who should be answering the question “Should I refinance my home?” because they are inherently biased. And once again, our independence from any broker or bank allows us to present this information about when to refinance in a fully unbiased way.  Aside from this page which has the latest information and advice about the refi  process, we have the following comprehensive pages that can help you understand how to best answer the question of should you refinance your home (you can navigate above or to the left):

Types of Home Loans

covers lesser known types of loans and helps move the question from “should I refinance my mortgage” to “what kind of loan should I get?”.  Many people are surprised at the number of products available.

Get the Lowest Interest Rate

gives tips to getting the best rates provides overall tips and tricks and providing the overall answer to should you refinance your home and how to get the lowest home mortgage refinance rates available.  Even some who have done a lot of homework already will find helpful information there.

How to Refinance

goes over the steps in the refinance process so you know what to expect and how to prepare.  You need to try to avoid losing your favorable home mortgage interest rate because you run out of time on your rate lock, and this section will help you ensure that everything is moving along when it comes to refinancing a home.

When to Refinance

gives some information about the common question – when should I refinance my home – what is the best potential timing?  Of course no one can tell you exactly where home mortgage refinance rates are headed, but we can help you read some of the clues.

We will also explore the various terms you can get on more conventional loan products as well, from lengths of time to types of payments. The more informed and knowledgeable you are when you call your bank or broker, the better you are likely to do in the process. We want to provide you with the unbiased independent information you need to get a great rate and the most favorable terms you can!

Should I Refinance My Mortgage Conclusion

Thanks for visiting and we hope that in the end you will know when to refinance  and therefore get your answer to the question “Should I refinance my home?  We hope this website is helpful.  That said, please make sure to use other sources as well, particularly if you are in the category of wondering when to refinance.  We are quite comprehensive but cannot possibly cover everything with regard to home mortgage interest rates, and we also can’t possible respond to your unique financial a situation.

Outside answers to “Should I Refinance my Mortgage?”

Here are three good websites.

The mortgage calculator at Zillow can be a great tool when you are asking should I refinance my mortgage.  There are other excellent mortgage calculators as well, but we suggest you carefully read the instructions and make sure that when you are comparing the new opportunity toi what you have now you are adept at knowing how to do so.

BankRate is a great site and they offer a nice page on when to refinance your mortgage.  This type of site potentially is slightly biased toward encouraging you to pursue a refi since they get paid when people click the links on their site, but this one tends to be very good about staying neutral.

Money Crashers is another good site and on this page they go over the question “Should I refinancee my home?”  They do an excellent job covering many aspects of the question.

We also appreciate your feedback and assistance.  Please feel free to use our comments section at the bottom of any page if you have any information or advice you think would be helpful to other readers about who are facing the question “Should I refinance my home loan?”  Of course we also welcome questions you think we should answer and topics you think we should cover or cover in more detail.  Our goal is to be responsive to our readers while staying completely up-to-date about home mortgage refinance rates.  Thanks for visiting!

About Us

There are many websites available that cover the question “should I refinance my home?.  Many of these sites are managed by mortgage originators including brokers and banks.  Others are not.  Sometimes it is hard to tell the difference between those websites that have a bias in their coverage of the home mortgage process and those that are fully independent.  Our website is fully independent and unbiased.  We are not directly related to any company, bank or broker in the mortgage refinance area.  We do not accept guest posts or other material from potentially biased sources, even if they may have the best of intentions.  The information we provide in answert to the question should I refinance my mortgage can be trusted.

We aim to provide you with information and advice about refinancing a home.  We cover everything from the timing of locking a rate and choosing a bank or broker, through understanding the title and appraisal process is covered here.  The entire process is explored with an eye toward ensuring that our visitors are well-informed and also ready to make good decisions along the way.

Disclaimer to Should I Refinance my Mortgage:

This site is an informative independent website designed to give you helpful information before you take out your first mortgage or when you refinance your mortgage.  It is important to note that the decision about which mortgage to choose – which bank, rate, terms, and length – depends on your unique financial situation.  You should check with a financial advisor before choosing a mortgage.

Copyright: All information contained in this information is protected by copyright.  If you have a related financial or mortgage site and would like to use some of our content, please contact us.  Depending on the circumstances, we do sometimes allow information to be used with proper attribution.  Keep in mind that we are an unbiased and independent site so we will not accept requests from banks and brokers.

Update: Asking Should I Refinance My Home in 2017

Home mortgage refinance rates are relatively stable lately.  This means that the question should I refinance my mortgage is easier to answer.  There is no volatility to take into consideration.   Home mortgage interest rates are not moving fast so the answer lies in where things are now compared to what your existing loan looks like.  Do we think that is going to change appreciably soon?  Probably not.  Our goal here is to provide guidance about when to refinance.  Quite frankly there is not much in the trends for us to give advice.

Current factors related to home refinance

That does not mean there are not other factors which can provide some guidance, such as:

– The depth of the housing market.  More homes usually sell in the spring and the overall market has been improving.  This usually does not affect when to refinance your home because there is usually no effect on home mortgage interest rates.  Yet this factor may affect which bank or broker you choose, given that they will be busier.  Make sure you choose someone who is experienced and will make sure to close your loan on time.

– Should you purchase the ability to re-lock should home mortgage refinance rates fall a little?  In a period of stable home mortgage interest rates you may want to resist paying for this extra “insurance”.  Then again the cost can be quite reasonable.

– Are you holding out too long for that perfect rate?  In other words, is the real answer to the question “should I refinance my mortgage” an unquestionable “yes”, but you are waiting for that last quarter point drop.  Be careful of that strategy, it has led many before you to end up actually paying higher home mortgage interest rates in the long run.

Thank you for visiting.  We hope you got the answer to the question “Should I refinance my mortgage“.  Please come back and let us know how we’ve done as far as the advice you gained when you’ve asked yourself “Should I refinance my home?”