Mortgage refinance calculator
- when should you consider refinancing your mortgage
- when should you refinance your mortgage
- when can you refinance your mortgage
- when do you refinance your mortgage
When you refinance a mortgage does the 30 years start over!
When Is It Worth It to Refinance Your Mortgage?The truth about refinancing your mortgage
| 2025
By: Erik J. MartinUpdated By: Ryan TronierReviewed By: Aleksandra Kadzielawski
January 9, 2025 - 14 min read
Is it worth it to refinance right now?
Yes, mortgage refinancing can be worth it right now if current rates allow you to save money both month-to-month and over the long term.
Whether rates are rising or falling, even a small drop of 1%, 0.5%, or as little as 0.25% in your interest rate could make refinancing worthwhile, depending on your existing mortgage loan and financial goals.
Check your refinance eligibility.Start here
If you think you could get an even slightly lower rate, check to see if a refinance is worth it based on your new rate and savings.
In this article (Skip to...)
When is it worth it to refinance?
It’s generally worth it to refinance a mortgage if you can lower your costs in some way, whether by getting a lower interest rate, a shorter loan term, or a lower monthly payment.
“Determining whether the total costs to refinance make sense heavily depends on how long you plan to ke
- how often should you refinance your mortgage
- when should you refinance your house