Calculating if it makes sense to refinance will depend on your original rate, the new rate, and your closing costs. Timing also depends on your goals.
If you want to lower your monthly payments, when rates are 0.5–1% point lower than your existing rate, it’s time to do the math.
If you want to shorten your loan term, or if you’ve built enough equity to remove mortgage insurance, it’s time to do the math.
Regardless of who your current lender is, BMC Keystone can help. We can look at the numbers to determine how much money you would save overall and run down a list of any fees. Ideally, you want to save more than you spend.
We would be happy to review your current loan, today’s rates, and give you a better picture of how a refinance could benefit you and how much it will cost.