Today, a large percentage of consumers either refinance or switch homes every 5 to 7 years
. Unless you are planning on being in a home for an extended amount of time, a no closing cost refinance might be the right choice. Plus, the $3,000 you would have to pay towards the closing costs could be used towards other investments thus creating the ability to turn that amount into even more money. A licensed and qualified mortgage professional can help you sort through your options so that you can make a well informed financial decision for you and your family.