"If this is the question you are asking yourself you will need to consider many factors. Of course you are the only one that can make that determination. The following are some things you may want to consider before making that determination:

• How many years are remaining on your existing loan?
• Do you want to lower your payments? If so, a lower interest rate may not be the answer. You may want to consider payment option loans.
• How long do you plan on staying in your existing home?
• Do you want to consolidate your debt by putting all of your credit card balances and car payments into the loan creating one lower payment?
• Are you investing the cash from equity to a retirement account or for a child's college tuition?
• How much will the loan cost you in the short term and the long term?
• Do you need a fixed-rate loan that will give you peace of mind knowing that your payment and rate will not go up?

All of these things need to be considered before deciding what is the best time to refinance. Talk to a Magellan loan expert today to help you make this important decision. Remember, your home is your financial base for your future."