Interest rates are down and many homeowners are tempted to look into refinancing their mortgages, but is refinancing the right decision for you? If your interest rate or monthly payments are too high, now might be your opportunity to save money. Fill out our free short form to contact up to four lenders about mortgages refinancing.

Use the current drop in rates to save money on your loan. Apply online today to contact up to four lenders about refinancing mortgages.

That last question is very important. If your credit is no longer as clean as it was when you first bought your home, refinancing could actually hurt you. If you have developed a large income to debt ratio, you may not be able to receive the low interest rate that has been tempting you to look into refinancing. You may also want to check your credit report to ensure that there are no false claims that could keep you from getting that rate that you want.

If you don’t intend to live in your house for ten more years, you may not want to refinance. You may not fully be able to appreciate the benefits of refinancing within that time and might want to consider looking into a different kind of loan, perhaps a home equity loan. However, truly significant rate drops can make refinancing a good choice even if you are moving before ten years have passed.