Are you planning to stay put for a while? If so then refinancing may be a good option, if you can lower your monthly payment by enough to cover the closing costs associated with the new loan. For many, breaking-even for a refinance can take two to three years. If you are planning on moving with a year or two, then the costs of refinancing may be more than the money saved. To determine whether refinancing is right for you, contact us for a quick consultation and a list of recommended mortgage consultants. You'll be glad you did!