With mortgage rates on the lower side, the choice to cash in and refinance your mortgage may be tempting, but before you make that decision here are a few facts to help you decide if it is the best financial choice for you and your family.

You have probably heard a lot about home equity loans if you have spent any time at all looking at home financing options. These are loans that are usually taken out by people who already own a home, and want to borrow against the value of the home.