With interest rates so low, you've probably considered refinancing your mortgage. This chart has a few questions to ask first, but sit down with a mortgage professional to get serious.
Other Considerations
- Do you have a good credit score? Even if an interest rate of 4 percent is available, you won't be eligible for it if your credit score is low.
- If a refi saves you 1 percent a month on a $100,000 loan, that's not a lot. But 1 percent a month on a $300,000 loan? That's substantial.
