Mortgage rates are now in an all-time low and many homeowners want to take advantage of refinancing their existing home loan to reduce the monthly payment, gain access cash to their home’s equity, or speed up their loan payoff. This opportunity may be tempting but ensuring that you have found the best deals possible and ensuring healthy cash flow and credit rating before you apply may avoid you from potential issues in the long run.

Source: https://www.foxbusiness.com/money/7-common-mistakes-refinancing-into-lower-mortgage-rate