Hello LG,
Check with your trusted Lender. It might be a benefit to you if you currently have a higher interest rate and you plan to remain in your home to recoup the refinance costs. As Mary has mentioned there are many variables to consider. Your goals or reasons, property value vs current debt on property, interest rates current and possible refi. rate and of course the cost vs savings of refinancing your home.
Hope this helps.
Thank you,
Karen Oyler

If you are planning to remain in this home, refinancing can be an option. Evaluate the cost of the refinance against the length of time you plan to remain in the home. If you plan to sell in the next year or two, this may not be the best approach.

If you are planning to pull out equity, this may not be your best move. Appraisals for refinance may be higher than market value. The challenge is to keep as much equity intact as possible to prevent "over-borrowing" and owing more than the home is worth in the next year or two. This includes obtaining "Lines of Credit."

Too often real estate agents find that owners are faced with "out of pocket" expenses if it becomes necessary to sell before equity has been rebuilt. As with any credit purchase, your real estate is not a bank or a source of instant cash. Real estate is a long term investment with troughs and peaks of value.
Consult with a real estate professional with market expertise BEFORE you refinance.