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Refinancing Basics
When a refi makes sense (and when it doesn't)
Refinancing sounds like a fix-all, but it's really a tool—and like any tool, it works best for specific jobs. The most common reason to refinance is to lower your interest rate, which reduces your monthly payment. But refinancing also resets your loan term, so if you're already five years into a 30-year mortgage, you could end up paying longer overall. There are other reasons to refinance too: switching from an adjustable to a fixed rate, tapping equity for a large expense, or consolidating debt. The catch is that refinancing costs money upfront, so you want to make sure the benefit outlasts those costs. Every situation is different, which is why it's worth a conversation before you decide. I'm here to walk through the numbers with you and help you figure out if a refinance makes sense right now. If you're curious whether refinancing could work for you, let's talk through your options.
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