Things to Consider Before You Refinance Your Mortgage

With mortgage rates hovering near all-time lows, refinancing is on many homeowners’ minds right now. Are you a good candidate?

A couple sit on the steps of their home.
(Image credit: Getty Images)

Refinancing your mortgage simply means you are taking out a new home loan to replace your current mortgage. There are several reasons why someone may want to refinance their mortgage, but most commonly, it is when mortgage interest rates have fallen. By refinancing to a new mortgage with a lower rate, there can be significant savings on your monthly payment.

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Financial planning and advisory services offered through Vicus Capital Inc., a federally registered investment adviser. Any information contained in this article is not intended to serve as personalized investment advice. To the extent that you have any questions regarding a specific issue discussed, please consult with a financial professional.


This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Chad Chubb, CFP®
Founder, WealthKeel LLC

Chad Chubb is a Certified Financial Planner™, Certified Student Loan Professional™ and the founder of WealthKeel LLC. He works alongside Gen X & Gen Y physicians to help them navigate the complexities of everyday life by crafting streamlined financial plans that are agile for his clients' evolving needs. He helps them utilize their wealth to free up time and energy to focus on their family, their practice and what they love most.