When you're looking for the right refinance loan, keep in mind that a mortgage or home equity loan or line of credit may be a good way to refinance — as long as it improves on your existing mortgage or opens up new financial possibilities. This means that there are scores of refinancing products and programs to choose from. Your best guide through this maze of options is to set clear refinancing goals first.

• Simply lower your monthly mortgage payments? If so, look for a refinance product with more favorable interest rates and/or a longer term, but watch for up-front fees and costs.
• Shorten your payoff? Switch to a loan with a shorter term, but watch for up-front fees and costs.
• Need money for a remodel or a major purchase? Consider home equity products, or look for mortgage products that allow cash-out refinancing.
• Refinance quickly? Look for products specially designed to speed up the approval and closing processes. Some Wells Fargo Home Mortgage loan programs offer rapid turnaround as a perk for current customers.

• Who should consider: Existing Wells Fargo Home Mortgage customers
• Refinance goal: Quick and easy refinance simply to reduce the rate and/or term of your loan
• Cash-out refinance? No
• Processing speed: Pre-approval for qualified customers. Often requires no credit review or appraisal.
• Interest rates and closing costs: Fixed- or adjustable-rate loans available
• Finance closing costs? Yes

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