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Refinancing Basics
When refinancing makes sense (and when it doesn't)
Refinancing—replacing your current mortgage with a new one—can be a smart move, but it's not right for everyone or every situation. The main reasons people refinance are to lower their interest rate, shorten their loan term, switch from adjustable to fixed rates, or tap into home equity. The catch is that refinancing comes with closing costs, so you need to stay long enough in the home to recoup those expenses through your monthly savings. I work with borrowers to run the actual math: how much you'd save per month, how long it takes to break even, and whether your plans for the home make sense with that timeline. It's worth a conversation if you're wondering whether a refinance could work for your situation. If you're curious whether refinancing might fit your goals, I'm happy to walk through the numbers with you—no obligation.
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