2. Find out what your closing costs are going to be. You may be going back and forth with different lenders to get lowest interest rate and then get dinged at closing table with massive closing costs. Ask each lender that makes you an offer to give you an estimate on what closing costs are going to be and compare lenders.

3. Make sure terms of financing are what you want. If you want to have a variable interest rate, then get one. If you are more comfortable with a 5 year fixed rate, then make sure that you don’t get talked into settling for something less. You can’t refinance as often as you want, so you want to make sure you do it right, because once your done, you are locked in.

Take advantage of internet and apply to many different mortgage companies that will provide you multiple offers. Do this to make sure you can compare offers from many different companies instead of taking a chance of getting what you don't want.

To see our list of highly recommended refinance mortgage lenders who can give you quotes from multiple lenders, visit this page: Recommended Refinance Mortgage Lenders.

You may be able to get a loan up to 125% of value of your home. This would mean an increase in your monthly payments, depending on interest rate you receive, and extra cash you get can be used for any purpose you see fit. This is an excellent option for those wanting to pay off credit cards, student loans, or make improvements to home. By comparing lenders and loan packages, you can potentially save thousands of dollars in interest and possibly get extra cash you need.

Today's low interest rates and competitive lending industry give homeowners many choices in refinancing or purchasing a home. You can save money each month and over entire length of your loan by comparing lenders and products they offer.

To view a list of our recommended refinance lenders, visit this page: Recommended Home Loan Refinance Lenders.