In addition to buying and selling, homeowners often consider refinancing when their term is reaching its maturity date, or interest rates decline. There are many considerations that homeowners should think about when determining whether it is the right time to refinance. Some things to consider is comparing your existing interest vs your new interest rate, whether there is a pre-penalty for paying out your mortgage early, other debts that the Lender may want you to payout prior to being eligible and finally legal costs. At Houlihan Law, we are happy to answer any questions you may have regarding refinancing your property and to help guide you through the process.