Refinancing
There are many great reasons to refinance your home. With today's low cost refinance options, now even a small reduction in your interest rate can still make sense. Some good reasons to refinance are as follows:

1. Convert a current adjustable rate into a fixed rate mortgage. This is good if you want something more stable and plan to stay in your home for more than 7 years.
    

2. Reduce your current interest rate to a lower fixed or adjustable rate. One of the most popular reasons to refinance and now with interest only or 1% Smart Choice “Pick a Payment” loans you can save thousands of dollars a year.
    

3. Cash out some of your equity for debt consolidation, renovations or to purchase another property. This is a great way to get rid of credit card bills, add value to your home or put your money to work in the purchase of an investment property for rental income and appreciation. Remember, mortgages are tax deductible, credit card bills are not. Plus, property appreciation has made more people wealthy over the last couple of years than the dot.com era of the late 1990’s.
    

4. Remove mortgage insurance if you've reached the 20% equity mark.
    

5. Combine a first and second mortgage into one mortgage, one payment and a lower overall payment.

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