Time to refinance your home.

 Interest rates are at historic lows. Under 4% on new home loans and refinanced mortgages. If you are planning to buy a home do it now. If you can refinance it should be a serious consideration.

Call a mortgage broker and get an estimate of the closing cost. Get the broker to estimate the interest rate for your refinance loan. Compare that rate to your current rate.

Lets say the difference in rates is 2%. For each $100,000 you refinance you would save $2,000 The question is, how long will it take to make back the cost of refinancing with the savings? Or said another way, how long do you have to stay in that house to realize the savings?

If you have a thirty year mortgage, you might be able to switch to a twenty year, or fifteen year note for the same or a smaller payment amount. You can cover some of the cost of refinancing out of pocket if need be, as you won't have a payment due for the month you refinance.

 This web site has a lot of tools to help you decide. http://www.helensmoneyteam.com/ I like the site because it is clean and easy to use. Just click on the links at the top to find the appropriate assistance.