You may have been thinking about refinancing your home for a while but thought the opportunity passed you by. However, rates are continuing to hover at near-record lows, making now an ideal time to consider refinancing your mortgage — especially if one of the following four reasons is relevant to you.

First-time homebuyers are frequently shocked that it's much more challenging to qualify for a mortgage than other loan types. Home loans are usually relatively large and have longer loan terms, so they are more of a risk for the lender.