The experts will tell you that you shouldn't think about refinancing your mortgage unless you can lower your interest rate by at least 2%. That's all well and good, but there are other good reasons to finance. Here are a few:

* To get out of a high interest rate loan to take advantage of lower rates. This is a good idea only if you intend to stay in the house long enough to make the additional fees worthwhile, and if you can reduce your interest rate by 2%.

* Have an adjustable-rate mortgage (ARM) and want a fixed-rate loan to have the certainty of knowing exactly what the mortgage payment will be for the life of the loan.

* To convert to an ARM (adjustable rate mortgage) with a lower interest rate or more features (such as a better interest rate and payment caps) than the ARM you currently have.

* To build up equity faster by converting to a loan with a shorter term.

* To draw out the equity built up in your house to get cash for a major purchase or the childrens' education.

If any of these conditions apply, you may be a good candidate to refinance your mortgage. For more informtion on finding the best mortgage, visit the Federal Trade Commission web site.

If you have decided to refinance your mortgage, remember to compare different web sites to find the best terms and conditions for you. And don't forget to shop locally. Your home town bank may have better rates than you can find on the Internet.