Refinance

QWhen Should I Refinance?
AIf the rate in the market is at least one point lower than your current interest rate, refinancing usually makes sense. In addition, you should consider refinancing if you can get a lower interest rate with little to no costs to you, including closing costs. Always remember, if you have had a 30 year mortgage loan for several years, when you refinance you will typically get a 30 year mortgage Ö that means it will take 30 years to pay off the new loan, extending your payoff period.