Should I refinance my house?

[Mirella Tinoco]

Hi I am new here. My family purchased their home for $325,000. We currently owe $280,273.58 with an interest rate of 4.625%. Should we refinance our home to get a lower interest rate? Our rent is $1,975.52 but only $414.33 goes to our principal payment. Any help? I would really appreciate it

[Jason Wray]

@Mirella Tinoco Yes!  Interest rates are at an all time low right now and they will more than likely be on the rise into next year.  You can jut lower your payment or take some cash out and lower the rate either way it's a great time.