There are many positive aspects of mortgage refinancing. You will have extra money in your pocket. In order to complete mortgage refinancing there are several items to consider. First, you should find a mortgage company that would be willing to waive finance charges such as the application and appraisal fees. Second, it may make sense to pay closing costs and points to get a very low rate if you are planning to live in your home for three to five years. Next, as stated above, when choosing to pay closing costs have them included in your new mortgage. This way of mortgage refinancing is sure to have you purchase new things, pay for college tuition, or take that trip you have always wanted to.