When you are taking a look at your finances, it’s important to factor in your mortgage and consider when it is going to come up for renewal. As part of your mortgage refinance plan, you should look at how much you are paying each month and how much longer you have left to pay off your house. If you are getting close to the end, you have some room to bargain with your lending institution and see what they can do for you. Consider a shorter term mortgage which will give you a lesser interest rate but keep your payments the same to get it paid down a little bit faster. Make sure to ask about any fees that may be associated with paying it off a bit faster than the term of the mortgage. It may make more financial sense to take a little bit longer instead of paying penalty fees. Whatever lending institution you are using should be able to help you figure out the best method when you refinance your home.