Greetings neighbors,

As Americans try to maintain and overcome, and as the economy tries to recuperate, many home owners are considering the option of refinancing. It has been said that the current market conditions is actually making this the perfect time to refinance. Here are 5 reasons to refinance your home:

Low Interest Rates - Interest rates at this time are hitting all time lows which makes for the perfect time to refinance if you currently have a higher rate interest loan. If you are able to drop your rate by half a point or a point, it's well worth it.

From Adjustable Rate to Fixed Rate - Due to lower fixed interest rates, it would be a favorable move for home owners to switch from an adjustable rate loan to a fixed 15 - year or 30 -year loan. Although the adjustable payment may be less right now, once rates rise again, the adjustable rate will surpass the fixed 15 - year or 30 - year loan rate.

Shorter Term/Save More - Because there's a significant difference in fixed 15 - year and 30 - year interest rates, refinancing for a shorter loan term can be a compelling opportunity which can save thousands and shorten the payoff time for a minute increase in monthly payments.

Lowering Energy Bills Through Refi - FHA efficiency mortgages offers consumers a way to refinance into a loan that will provide opportunity for home efficiency improvements. These improvements can lower utility bill through home repairs.

Equity Situation - Those who may have little to no equity in their homes may need to ask for help from their brokers or lenders who should be flexible with government programs designed to reduce rates for consumers with equity problems.