You do not want to be streamlined into a loan that does not fit into your plans or it could cost you a bundle. And if you are planning a big move in the very near future, it might not make sense at all.

Be sure to ask your lender if they took into account the duration of the loan when calculating your payback period.

It's a good thing offices credit cards offer free copies of your credit report annually.

Cash-out refinance rate: This option will not offer you the opportunity to reduce the monthly payment with an attractive rate.
It was now time to go and draw your mortgage refinance loan to finance your move and your new home.
This is the phase where you know the exact amount that you can afford. At this point, you should consider your financial scenario as a whole and determine exactly what your financial goals are long term and short term.