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Should I Consider Refinancing My Mortgage?

Category:
General, Assets and Investment Planning
Blurred Flowchart

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When interest rates decline, mortgage refinancing becomes a particularly popular topic. However, there are several other good reasons for clients to consider refinancing, including an increase in their credit score or home value, or the availability of more favorable loan terms. Each client’s situation is unique, and many factors must be considered before making the decision to refinance.

This flowchart helps guide your conversations when advising clients about their mortgages, and covers:

  • Interest rate trends
  • Current loan rates and terms
  • Available alternatives
  • Motivations for refinancing
  • Cautions against refinancing

 

Updated for 12/1/2022


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