How to Know If You Should Refinance Now

Refinancing your mortgage can be a smart financial move — but only if the timing is right. Whether you’re hoping to lower your monthly payment, shorten your loan term, or tap into your home’s equity, the decision to refinance should be guided by a few key factors.

Signs It Might Be the Right Time to Refinance:

• Interest Rates Have Dropped: If current rates are at least 1% lower than your existing rate, refinancing could lead to meaningful savings.

• Your Credit Score Has Improved: A stronger credit profile may qualify you for a better interest rate and terms.

• You Need to Adjust Your Loan Term: Shortening or extending your mortgage term can help align payments with your current goals.

• You Plan to Stay Put for a While: Refinancing often comes with closing costs — so make sure you’ll be in the home long enough to benefit.

Still on the fence? Consider how much you could save over time with a lower rate, or whether consolidating debt via a refinance could simplify your finances.

Want a personalized answer? Take our short quiz and we’ll match you with a refinance specialist who can break down the numbers — no pressure, just clarity.