When should I refinance my mortgage?

Refinance when the savings clearly beat the cost. Good triggers: rates have dropped enough to recoup closing costs within a couple of years, you want to drop PMI, switch from an ARM to fixed, or consolidate higher-rate debt.

The old 'wait for a 1% drop' rule is a rough guide, not a law. We'll calculate your break-even and net savings before you refinance so the move actually pays off.

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