Planning on staying in your home for a while? Would some extra cash in your pocket every month help you pay off other debts quickly? Then you need to look at the top 5 reasons to refinance your home.

1) Pay Off Your Mortgage Faster – Lower interest rates can help shorten the term of your loan so you can pay it off faster. Over the life of the loan you’ll save thousands due to a lower interest rate.

2) Better Interest Rate, Lower Monthly Payments – With a lower interest rate than your original mortgage, your refinancing will lower your overall monthly mortgage payments. That means more cash for savings, paying off bills, taking vacations, whatever you need!

3) Eliminate Private Mortgage Insurance (PMI) – If, like most people, you were unable to put down at least 20% when you bought your home, you probably had to pay for PMI. With at least some of the initial loan paid down you have equity in your home and refinancing will help you ditch the PMI payment >>>

4) A Fixed Rate = Peace Of Mind – If you have an adjustable-rate mortgage, now might be the best time ever to refinance and get a fixed-rate mortgage at new, lower rates. You’ll be free of those fears about your mortgage interest rates changing ever again!

5) Debt Consolidation – Are you wrestling with high-interest rate debt you’d like to get rid of? There is a cash-out refinance option that could help you. You may have to refinance your mortgage at a higher amount to get that cash-out option, but if you can pay off high-interest debt with a lower refinancing rate it might make sense. You could use that money to pay off credit cards, department store cards, school loans, car loans or even re-invest that money into home-improvements on your house!