Is Your Mortgage Payment too High? Useful Things to Bear in Mind

to lower your mortgage payment, here are some of the options you may want to consider. 1. Refinance... be able to refinance your loan at a lower interest rate provided you have a better credit history than... absorbing the costs of refinancing. But remember, this is only in the case of a simple rate/term refinance. 2. Refinance to a longer mortgage Term Another approach to lower your monthly mortgage payment is to refinance to a longer mortgage term. This can be counterproductive since you end up paying