Refinance
Refinance only when the math says so.
A refinance makes sense when the money you save each month outweighs what the new loan costs you, and you will stay in the home long enough to break even. Lorrie runs that math with you honestly, including the times the answer is not to refinance.
Start with break-even
Divide your closing costs by your monthly savings to see how many months it takes to recoup them. If you expect to move or refinance again before then, the refinance probably is not worth it.
Fixed, adjustable, or cash-out
Each has a job. A fixed rate gives you a payment that never changes. An adjustable rate can fit a shorter horizon. A cash-out refinance turns equity into cash, and it deserves a hard look at what the money is for.
What to do now
You do not need to decide today. Tell Lorrie about your current loan and she will let you know when the numbers could work. Any rate or payment she shares will come with the APR and required terms.