When making the decision to refinance your Tampa Bay Florida home loan or real estate investment, Tampa Bay Florida Real Estate Home Loans and Mortgage suggests keeping several things in mind. First, even a small rate cut in your home mortgage payments can pay off quickly because you can easily find mortgage companies, such as Tampa Bay Florida Real Estate Home Loans and Mortgage, who are willing to waive routine refinancing charges such as application, appraisal and legal fees (which can add up to $1,500 to $3,000). Of course, in exchange for low or no up-front costs, you'll have to be willing to accept a rate on your home mortgage that's somewhat higher than the prevailing rock bottom.

Second, if you are planning to stay in your Tampa Bay Florida home for at least three to five years, it may make sense to pay "points" (a point equals 1% of the loan amount) and closing costs to get the lowest available rate on your home mortgage.

Finally, you can avoid laying out cash and still get a low rate by adding the points and closing costs to your new home mortgage. If you've had your current home mortgage for at least three years, you've probably reduced your balance by several thousand dollars. So you may be able to tack your closing costs onto your new loan and still end up with a mortgage that's smaller than your original one -- plus, of course, a lower interest rate and lower monthly home mortgage payment.

• Analyze Your Savings
• Refinance Considerations
• Cash Out Refinance