If you have owned your home for a while - and you bought it before the interest rates hit rock bottom - you have a lot of options available that can help you save more money. For instance, even with a simple refinance at a lower interest rate, you will be saving money each month. To take it one step further, depending on how much equity you have in your home, if you refinance at a lower rate and continue to make the same payments, you can pay off your home that much faster. Additionally, you could refinance into a 15 year mortgage that may have a shorter term, but still has a lower interest rate - leaving your payments almost the same, but helping you to pay your home of faster. You could also take some money out of the equity you've built up and put an addition on your house or complete any major repairs. The key is to obtain your current mortgage information and compare it to the refinance rates available today. Don't miss a chance to save some serious money!