It's never the wrong time to think about a new loan! Refinancing has a number of benefits

Lowering your interest rate and monthly payment

"Cashing Out" some of the equity in your home

Build up home equity faster with a new shorter-term mortgage

All these benefits do cost something. When you refinance, you're paying for settlement costs, an appraisal, lender's title insurance, underwriting fees, and other fees.

You might have to pay a penalty if your current mortgage has a "Pre Payment" penalty. Don't worry...we'll help you figure this out.

You might want to consider to "pay points" to get a more favorable interest rate which can be tax deductable. Consult your tax professional.

If you lower your interest rate you will be lowering the amount of mortgage interest payments you can deduct from your federal income taxes. This is another cost that some borrowers should consider. As always consult your tax professional.