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If you’re like most homeowners out there locked into a loan with fluctuating rates, it’s hard to sleep at night not knowing when the other shoe is going to drop. Once you can no longer afford your mortgage payments, you have only two solid options. Option one, you can pack up and leave the house that you’ve been calling your home. Or, the most preferred option, you can find a way to refinance your existing mortgage so that you can keep your home and pay a substantially lower monthly rate and interest rate.


Luckily for most homeowners, it’s a lot easier to refinance than it is to receive a home loan outright. That still doesn’t mean that it’s automatic, but as long as your home has some equity, and as long as you’re not completely in debt past your ears, you should be able to refinance and to find a good rate doing so. So now all that’s left is to find the best home loan mortgage refinancing options out there.


 USDA Program

When you’re looking to refinance, you’re looking for help. To that end, perhaps the first place you should check is with the government. A newer USDA program out there is helping homeowners whose mortgages are underwater. If that’s not your scenario, however, you can look into PMI options.


LendGo is a great website to check out if you’re hoping to find the lowest rates out there. You should keep in mind that most mortgage and refinancing packages are the same, and there’s only some slight difference between companies, perhaps around 1%. But if you qualify for a refinance at LendGo, you can receive a rate of 2.3% APR. This is probably a lot lower than the interest rate you’re paying now, and your monthly payment will also drop significantly.


Tip:The longer your loan duration, the lower the interest and the monthly payments are going to be, so remember, always opt for the 30-year option where you can.