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What To Consider When Refinancing Your Mortgage

Tuesday, September 21, 2021   /   by Shane Kilby

What To Consider When Refinancing Your Mortgage

Here are my key factors to consider when refinancing your mortgage.


Is now a good time to refinance your home? Today I want to help answer that question and go over a few key points you should consider:

1. Your current interest rate. The first thing you should consider when refinancing your home is your current interest rate. This is the biggest factor in terms of how much you could save, so it’s important to keep it in mind. 

2. Monthly savings. When you compare your current interest rate with what is possible, how much do you save every month? It’s important to talk about this with a trusted lender. 

3. Length of time on the mortgage. Even if you can save money by refinancing, you need to consider how much is left on your mortgage. If it’s almost paid off, you should consider if it is worth refinancing. On the other hand, saving even a little bit of money can pay off over time. 

4. Your new interest rate. This is the big one. Right now, we are seeing historically low interest rates, and you could save a ton of money on your mortgage. Once again, I recommend discussing your credit and financial situation with your lender.  


I was inspired to make this video because my wife is a lender, and she has recently helped people save a ton of money by refinancing their mortgages. Just the other day, she helped a client save $1,300 a month by refinancing. It wasn’t even a luxury home. This is a life-changing amount of savings, so I recommend you at least consider refinancing. 

If you have any questions about today’s topic, or if you have any real estate-related questions, please reach out to me via phone or email. I am always willing to help.