Things You'll Need:
- A copy of your mortgage note, which has information on how often your rate will adjust
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Step 1
Find out how often your rate adjusts. Some loans adjust every month, some every three months, some annually or every three years.
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Step 2
Check to be certain the new loan is really better than your old loan. Many banks have a very low introductory or incentive rate that lasts only a short amount of time.
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Step 3
Know what the closing costs will be and factor that into the overall cost of refinancing the loan.
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Step 4
Limit your choices down to three possible mortgage lenders, and then request a "good faith estimate'' from each one. A good faith estimate is a document which lays out the details of the loan, which will give your a better idea of what the closing cost to be paid refinance the loan.









