If you’re like many homeowners, you dream of better days when your property is paid in full and you don’t have to make those dreaded home mortgage payments anymore. While many home owners are "underwater" in their current home loans, still many others have significant equity in their homes and want to take advantage of the current, historically low interest rates.   Applications for mortgage refinance loans have spiked in recent months with long term interest rates at multi-year lows.  Many homeowners are turning to home mortgage refinance services in order to cut their monthly loan payments or to extend their loan periods.

Keep these hints in mind before choosing a refinance plan:

StarReviews Top 3 Mortgage Refinance Sites

1) Lending Tree

2) Quicken Loans

3) E-LOAN

Compare All Mortgage Refinance Sites

• When to Refinance: When you already have a home mortgage and wish to refinance, be sure the amount you save on interest rates balances fees paid during refinancing. Lending Tree is a great resource when debating the 'apply/not to apply' question, as they offer certified lending and allow you to compare multiple offers online.
• Loan Options: Determine whether a fixed rate mortgage or adjustable rate home mortgage is in your best interest. Fixed rate home mortgage monthly payments tend to remain steady despite market conditions. E-LOAN allows you to compare both loan options and to outweigh the pros vs. cons before you make your decision.
• Cash-out refinances: These allow you to refinance with a loan amount larger than your current home mortgage ... while you keep the cash difference. The catch? Your home equity must qualify before you can go through with it and in this economy, this is a very difficult to get approved.
• No Closing Cost Refinances: If you wish to save on up-front fees, this is probably your best choice. Depending on whether or not the prevailing market rate is lower than your existing rate by at least 1.5%, you are sure to reap the benefits.

Sites such as E-LOAN and Lending Tree provide home mortgage refinance loans, as well as useful information on home equity, home and auto purchasing, and personal loans. Utilizing features such as 'The Loan Advisor' allow you to enter information such as credit ratings, how much you intend on borrowing, estimated property values, and current mortgage balances. They, in turn, will recommend which loan route to take. Remember, saving money is key in your refinance loan search and with the current interest rate envoronment, this is an ideal time to lock in a long term home loan.