There are a number of reasons and benefits to refinancing, and not all of them reduce your rate or payment. Refinancing an adjustable rate mortgage into a fixed rate mortgage may raise your rate and payment, but will lock in the rate preventing additional increases in the future. You may want to take advantage of the equity in your home, and pay off higher interest debt or make improvements to your home.

When you refinance, there are settlement costs. These can usually be included in the new loan amount, with no money due upfront. Fees generally include an appraisal, title company fees, county recording fees, etc.

For most situations, the cost of refinancing is recouped rather quickly in monthly savings. Part of our process is determining what program is best for you. If refinancing your mortgage isn't in your best interest, we'll tell you that too.

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