When I should refinance?

It's generally a good time to refinance when mortgage rates are 1% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is less than 1%. Any reduction can trim your monthly mortgage payments.

Example: Your payment, excluding taxes and insurance, would be about $1254 on a $100,000 loan at 4.25%; if the rate were lowered to 3.25%, your payment would then be $1110, now you're saving $144 per month.

Your savings will depend on your income, budget, loan amount, and interest rate changes. We will help you weigh your options and decide if refinancing is right for you.