With the decline in interest rates, it is the right time now to get a refinance home loan and lock in to the lowest interest rates in decades. Isn’t that one big enough reason to get a refinance home loan? You’ll have more cash flow that will make life easier.Get It While the Going Is LowThe big news is here for all home owners with existing mortgages: Interest rates have declined!Federal Reserve has entered a new rate-cutting period and interest rates have dramatically dropped. Now is the time for homeowners with existing mortgages to avail of refinance home loans at lower rates that spell more money for other important expenses.You also have the option to shorten your loan term, but find out if you can even out the balance of fees that you’ll be paying during your new refinance home loan term.Simple FormulaWith the Federal Reserve entering a new rate-cutting period, the interest rates have dramatically dropped.A refinance home loan now means you’re opting for a lower interest rate, which will lower monthly payments. There’ll be cash in your pocket which you can save towards your taxes.Other Reasons to Get Another Home LoanAlso, over the years, the kids have grown and you’ll be needing cash for their college education. You can opt to get the equity you’ve built over time in your home and get a cash-out refinancing. You can put the money in the bank until the appropriate time you’ll be sending the kids off to college.There are more reasons to get a refinance home loan, such as:1. Time to switch from AMR to fixed rates.2. Mortgage term can be shortened.3. Home equity can be built faster.4. There’ll be more cash flow.5. Infusing additional capital to your business.6. Going into a small scale business.7. Remodeling your home.8. Medical bills.9. Paying off high interest loans.10. Travel.Getting the Best dealAs in all mortgage deals, you have to know all the necessary details for a successful refinance home mortgage. Shop for the best deal and get the mortgage company that offers a reasonable lower interest rate that will help you save on your mortgage and slice off years from the loan term.It will be easy to get another loan from your present mortgage company. If your mortgage company has a higher interest rate compared to another company, ask them if they can offer the same lower rate. If they cannot give a favorable offer, check out the other company.Here are some reminders before you leap into a new loan and get a better deal:1. Do not be lured by teaser rates, you will be paying add on fees to your monthly payments.2. Ask the company upfront about the fees you have to pay for processing the loan up to the closing fee.3. Ask the company if they penalize early payoff.4. Go for fixed refinance home rate rather than an adjustable rate.And lastly, get a refinance home loan now that you’ve got one big reason to get it.