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refinancing at a lower interest rate. Despite the millions of the most creditworthy Americans, they are not yet on the reform. And that’s a shame: Borrowers who refinanced in the second quarter of 2012, prices have dropped on average from May 1 percent. Mortgage of $ 200,000, resulting in savings of about $ 2,900 in interest over the next 12 months, according to Freddie Mac. (To calculate how much you can save, use the money to refinance calculator. CNN. Com and Real Simple, Time Inc. property)If you plan to stay home for at least three years and a mortgage of $ 100,000 at least, at a speed of 4-75 percent or more interest, ask your current lender or loan officer in their best rate refinancing interest. Then compare bank rates already have accounts with interest. Or, you can work with an independent mortgage broker to find the lowest rate, said Keith Gumbinger, vice president of SAS. com, mortgage information site. If you can reduce your current interest rates. 75-1 percent, go ahead and refinance.proof of income (two recent pay), copies of the actual data of investments, tax returns for the past two years and tests and other income: to facilitate the process goes well, the following documents are required. Also, be prepared to explain all the recent applications irregularities income, credit or employment. ‘Lenders make these situations because it could be an indication that can not afford their current loan, Gumbinger said.2. Refinancing to shorten the loan term. It is becoming increasingly popular among homeowners, even those on a tight budget to refinance, 30 year fixed mortgage rates to 20 or even 15 years. today you can, while the monthly cost close to current levels, said Erin Lantz, Zillow mortgage market, evaluation of site ownership.