Next, you should take a serious look at neighborhood itself. How are school systems rated? Even if you don’t have children this is important because when you go to sell home, your buyers might. Is house located in a convenient area, or would you have to drive excess miles to do your grocery shopping? In addition, you should visit area in day time, as well as night. Does “feel” of area change when it’s dark, or does it still look like a nice place to live?

Finally—and perhaps most importantly—don’t get caught up in “house fever” and commit to buying more than you can afford. One way to do this is by being pre-approved by your mortgage company. This will tell you exactly how much you can afford to pay, and that will automatically slim down your options. A good rule of thumb when you’re shopping is that your mortgage payment shouldn’t exceed more than 36 percent of your income.

Compare your current interest rate with low rates being offered by lenders and see if you could save money by refinancing. Some lenders will even finance points you pay on your loan to reduce amount of cash you need upfront. If you want to refinance your home and lower your payments, contact a lender who can approve your loan in California or in any other state you may own a home. Refinancing is a great way to take advantage of great loans being offered by online lenders and traditional mortgage companies. You can get free quotes from several lenders and compare rates offered by each. You can lower your monthly payments and have extra cash each and every month.