Mortgage refinancing and discovering more
The current contract you have may have costs for repaying the debt early; this cost might be triggered by mortgage refinancing. The refinancing process may also have some costs. Make sure that when you are doing the math of how much you might be saving with a particular mortgage refinancing plan that you factor in these costs. Also, there might be an option of paying points, which means that you may pay a higher mortgage refinancing cost up front but will pay a lower interest rate over the course of the payment. Or if you are current financial situation is tight you may find lower up front costs but will spread out the payment.