Knowing that our monthly mortgage payment is dependent totally on the interest rate at which we got the loan in the first place and greatly affect our lives. In these days and times of instability in the housing market it would behoove all of us homeowners to take a second look at the feasibility of acquiring a new home mortgage refinance rate that will help you immensely.If you want to learn what steps you need to be aware of in determining whether or not a refinance of your home mortgage loan would be right for you in that it would provide you with more money per month and knowing what information you need to know before you start talking to a lender. Then you need to read this article for that information.By the end of this read you’ll be able to pretty much determine the steps that you need to know about so that you can have a handle on what to expect when you talking to your lender about a refinance.Going into a bit more detail about understanding whether or not it would be to your advantage to refinance with a new rate depends on your current interest rate and the balance of your mortgage. If the balance if your mortgage is such that you can pay it off within a couple of years then it probably wouldn’t behoove you to refinance. Knowing that with any type of refinance condition comes with accessory points that means paying extra money for getting that refinance. If you have only a couple of years left on your mortgage then stay with what you have.But if you find that you have a number of years left on your mortgage then the extra influx of money that you would see as part of the refinance might help you pay some bills off, save some money for college funds, improve your property and still come out with a lower monthly payment than what you’re paying now.But it all starts at the lenders office. And the more information you have about your assessed value of your home and knowing whether real estate values in your area have been valuing up or down is important to know. This directly affects the interest rates and also your credit worthiness plays into the hand of the lender to see what rate you may get.So now you should be able to know whether or not a home mortgage refinance rate would be good for your situation right now. Knowing who to talk too at the mortgage company will greatly enhance your chances of getting the deal that you deserve and also knowing what questions to ask.