Lower Interest Rates

• When you refinance an existing mortgage with a lower interest rate, it can save you money on the life of the mortgage and shorten the loan payment.
  
  

Cash-out Refinance

• Depending on how long ago the home was purchased, there may be enough money accumulated in the home for a cash-out.
  
  

Pay Off Debts

• The home can be refinanced in order to pay off credit card debts or other types of debts, which usually have high interest rates.
  
  

Home Improvement

• The money from refinancing your home can be used to remodel the interior of your home, such as the bathroom, kitchen and bedroom.
  
  

Replace Adjustable Rate

• When there is an adjustable interest rate on your home, your payment may increase at anytime. One great benefit of refinancing your home is replacing the adjustable interest rate with a fixed rate.