There are many reasons why you would refinance your home loan. The main reason is that you want to make sure you have the best deal. The best deal could mean having the best structure and best interest rate, but it’s not all about the interest rate. Some lenders may charge a higher interest rate, but allow you to borrow more, which could mean whether you buy any property and your dream property.

A lower interest rate will definitely save you money, but there are some mistakes that could cost you money even though you refinance your home loan to a lower interest rate.

Here are the things to look for when refinancing