Are you thinking about to do your home mortgage refinance

Refinancing vs. Line of credit

Many people confuse a refinance with a Line of Credit (LOC). These are
actually two entirely different animals. A refinance is intended to
essentially reduce your debt (or at least the amount you're paying)
while a line of credit will have the result of increasing it. Most
people will get a home equity line of credit when they need to make
improvements or have some major purchase. The line of credit works
similarly to a revolving charge account - transactions against it will
reduce the credit line and payments to it will make that portion of
the line available again. There is much more to line of credit
accounts than can be discussed here. Suffice to say that a refinance
is not a line of credit and a line of credit is not a refinance.
The big questions about home mortgage refinance

In explaining home mortgage refinance we have already answered the
"why." The number one reason to refinance is to save money. The other
two big questions are merely situational. When should you refinance
your home mortgage? When doing so would be advantageous to you. No one
is going to refinance for a higher interest rate, of course. The other
big question, should you do it at all, also depends on the situation.
If the timing is right and there is a benefit to the refinance, by all
means do it. Click here to find out how you can take advantage of
lowest interest rate.