Refinancing can save you thousands — but timing is everything.
What Is Refinancing?
Refinancing replaces your current mortgage with a new one, often at a lower interest rate or better terms.
When Should You Refinance?
When interest rates drop by at least 1%.
If your credit score has improved.
To shorten your loan term (30-year → 15-year).
To cash out equity for renovations or debt consolidation.
Benefits of Refinancing:
Lower monthly payments.
Pay off your loan faster.
Access home equity for other goals.
⚠️ Be cautious: Refinancing resets your loan term, so calculate your break-even point to ensure it’s worth it.
Hi, this is a comment.
To get started with moderating, editing, and deleting comments, please visit the Comments screen in the dashboard.
Commenter avatars come from Gravatar.