MAKE YOUR HOME
WORK SMARTER.
A lower rate isn’t the only reason to refinance—and it isn’t always a good reason by itself. Let’s examine the numbers and the bigger picture.
HERE'S THE
GAME PLAN.
DEFINE YOUR GOAL
Lower payment, change loan term, consolidate eligible debt, or access available equity.
LOOK AT TOTAL COST
Compare closing costs, loan terms, payment changes and long-term interest.
CHOOSE PURPOSEFULLY
Review the available options against your future plans and expected time in the home.
THE MATH HAS TO MAKE SENSE.
A refinance can extend your term or increase lifetime interest even when the new monthly payment is lower. Evaluating total cost—not just headline rate—is the smarter way to decide.
GOOD QUESTIONS.
REAL ANSWERS.
Is refinancing always worth it when rates drop?+
No. Closing costs, the new term, time remaining in the home and your goals all matter.
Can I access home equity without refinancing my first mortgage?+
Possibly. Home equity loans and lines of credit may be options depending on eligibility and product availability.
Does a cash-out refinance increase what I owe?+
It generally increases your mortgage balance relative to keeping your current loan unchanged, and may affect total borrowing costs.