Reported about 1 year ago
Deciding whether to refinance your mortgage involves more than just comparing interest rates. Strategies such as considering your credit score, shortening the loan term, tapping into home equity, eliminating mortgage insurance, and streamlining a government-backed mortgage can make it a good time to refinance. Factors like improved credit score, shortening the loan term, and tapping equity could save you significant interest over the life of the loan. Various government-backed loans offer streamline refinancing options, so your specific financial situation will determine if refinancing is suitable.
Source: YAHOO