With House refinancing, you can avoid laying out cash and still manage to secure a low rate by adding the points and closing costs to your new mortgage. Another way for making a refinance work for you is to refinance for more than the balance that is remaining on your old mortgage. In effect, you are tapping your home equity. In other words, you are trying to cash out.

Are you opting for House refinancing? Consider this!  If you are intent on going for House refinancing, before you make your decision, consider rate. This is so because even a small rate cut can result in a gain for you. Look for House refinancing companies that are willing to waive routine refinancing charges. These include charges such as application, appraisal and legal fees.  If you have already decided that you will continue in your current home for say minimum three or more years, it makes sense to pay "points". To elaborate, a point equates 1% of the loan amount and closing costs. This will help you in securing the lowest available rate.

How does House refinancing help you? Find out
Remember, if you have had your current mortgage for say minimum three years then you have probably reduced your balance accordingly. Also, House refinancing lets you get a lower rate and lower monthly payment.