Home refinancing is the process of trading your current home mortgage for a new one that has lower interest rates. However, lower interest rates are not the only motivation for refinancing, as some use it to change from an adjustable rate to a fixed one. Refinancing can save homeowners thousands, and is also an opportunity to take out a home equity loan as well.All homeowners at some point will probably consider refinancing their home. Before doing so however, one should do it for the right reasons while also evaluating the market to determine whether or not it’s the right time. Ideally, the home refinancing lender will be easy to work with, there to meet your needs, and help you in anyway necessary while going through the refinancing process.The best home refinancing lenders will be there at your service and provide you with all the information you need while deciding whether or not to refinance your home. They will provide details on the best home loan refinance rates and answer any questions you might have.When you have a good reason for refinancing, such as to get lower rates or take out a home equity loan, then this is the right time to start researching refinancing lenders and comparing rates.Knowing when to refinance your home ultimately comes down to what you believe is best for your situation. Keep in mind however that home refinancing lenders may not approve a new loan if your current mortgage is still under a year old. If this isn’t an issue, then the terms will vary from lender to lender. The refinancing rates are also dependent on the lender, so it’s important to research each one to see which one is best.The process of home refinancing with your current lender is less complex as opposed to obtaining one from another lender because the borrower has leverage and familiarity. The cost of getting new clients is more costly for lenders as opposed to keeping the ones they currently have. Also, your current home refinancing lender is already aware of your credit score and background, which gives the borrower leverage. Also, the borrower has incentive because refinancing with a new lender will mean that the property will have to be appraised again.If you aren’t sure whether or not you should refinance your home, then consult a real estate agent or attorney to gain additional insight.