It is always a good idea to refinance with the same company that you worked with when you purchased your home. After all, they already know about your home, your job and your goals as a homeowner. We reach out to our past clients from time to time when we notice that they may benefit from a refinance. But there are many reasons that homeowners refinance their original loans other than just to lower their rate or payment.

1. Cashout – if you have equity in your home, you can refinance and actually get back cash to pay off credit card debt, do home improvements or even to purchase a second home or investment property.
    
2. Change Terms – you may have bought your home with a 30-year mortgage and now you can afford the payment on a 15 or 20-year.
    
3. Divorce – unfortunately sometimes an event such as a divorce will require a refinance so that one person can buyout the other parties interest in the property.