Refinancing a mortgage for a better interest rate can save you money, but make sure you’re aware of extra fees and other considerations.

Many homeowners with mortgages have considered refinancing at some point or another. Refinancing a mortgage essentially replaces your current mortgage with a new loan. It’s an especially enticing choice for people who want to decrease their interest rate, lower their monthly payments, pay off the loan faster, tap into home equity, or turn an adjustable-rate into a fixed-rate loan. But hold on. Just because rates are at historic lows doesn’t mean that refinancing is the right decision for everyone.

Once you’ve decided that refinancing is worth exploring, find a mortgage representative who can clarify all the financials and explain all your options. While you’re discussing this, it’s important to ask the right questions—and lots of them. Ready to refinance your home? Before you jump in and start the refinancing process, watch this brief video from the realtor.com YouTube channel.