Refinancing at the Right Time Can Save You Thousands

Refinancing isn’t just about finding a lower interest rate — it’s about aligning your mortgage with your current financial situation and future plans. But how do you know if now is the right time?

Consider Refinancing If...

• Interest Rates Have Dropped: Even a 1% drop can mean serious long-term savings.

• Your Credit Score Has Improved: Better credit = better rates.

• You Want Lower Monthly Payments: Stretching out the term can ease your budget.

• You Want to Pay Off Your Loan Faster: A shorter term means higher payments but big savings on interest.

• You Need Cash for Big Expenses: A cash-out refinance lets you tap into home equity.

On the flip side, refinancing might not make sense if you’re planning to move soon, or if fees outweigh the benefits. Use the break-even point (total costs ÷ monthly savings) to calculate how long it’ll take to recoup your expenses.

Still unsure? Take the quiz to connect with a refinancing pro who’ll give you clear, unbiased advice based on your situation.