Having the lowest interest rate and monthly payment possible are what every homeowner wants. Refinancing your home could be your ticket to more cash in your pocket. Here are three ways to refinance the smart way:

Start With Your Current Mortgage Company.

When you work through your current mortgage holder the process is often ten times smoother. You have less hassle because all of your documentation paperwork is on file and you are informed on the company policies and procedures. You also know first hand the integrity of the company you are working with, and have given them a good idea of what type of person you are. All businesses want customer retention so odds are they will work harder to keep you.

Roll In Costs

Once you have found the lender that offers the best deal see if you can save money by rolling the fees into your loan. This option allows you to come to the table at closing time with little or no money out of your pocket. This works best if you plan on owning the home for more than five years or so. Rolling in fees ups your total loan amount so if you were to try and sell your home on a quick turn around you may not get all of the money you could have if you waited a couple of years.

Know When to Walk Away

When all is said and done, if you see that you would only save a small amount each month it may not be worth spending thousands of dollars in closing costs to secure the new loan. If your credit isnt good and you know that waiting a year could get you a lower rate, wait. Make sure the decision you make is beneficial now and thirty years from now.

Following these tips will ensure you get the best deal possible every time.