There can be many reasons to refinance.
If interest rates have dropped or your financial situation has improved since closing your current mortgage, refinancing with a new loan at a lower rate may lower your monthly payment and save you thousands in interest over the life of your loan.
Are you paying for mortgage insurance? If you've paid off some of your principle balance, and/or your home has increased in value, you may no longer be required to have mortgage insurance. You may be eligible to refinance to a new loan without that extra cost.
If you are in need of funds for a home remodel, medical expenses, etc., one option might be a cash-out refinance. In a cash-out refinance, the borrower takes out a loan for more than the amount currently owed on the house. The borrower takes the difference in cash.
We are always happy to go over your current situation, and will honestly tell you if this is the right time for you to refinance, or if it would be in your best interest to wait a little further down the road.