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Know when a refinance helps
A lower payment is the start of a question. Compare costs, payoff timing and balances remaining against keeping your current mortgage before deciding what improves your plan.
49 published answers
Mortgage Rate vs. Closing Costs: How to Compare Offers
A lower mortgage rate can be useful, but the price of getting it matters. Eric’s video suggests comparing four numbers together: cash to close, the complete monthly payment, the break even period and the time you expect to keep the loan.
Read the answerFive mortgage review levers beyond a one-point rate drop
Eric’s September 12, 2025 video explains why a refinance review should start with a goal. A full percentage-point rate reduction is not a universal threshold. The more useful question is whether a proposed change improves your finances after costs and risks.
Read the answerTwo questions to ask about a VA refinance offer
The video warns veterans to examine an advertised payment reduction alongside the new loan balance. A refinance can require little cash at closing while still adding costs to the debt.
Read the answerCheck the new loan balance as well as refinance break-even
This brief answer identifies three useful starting points: the cost of refinancing, the payment change and the new loan amount.
Read the answerA short holding period can change the value of discount points
The clip considers paying upfront for a lower rate and then refinancing before the cost is recovered. Test that possibility using actual offers, without assuming a future refinance will happen.
Read the answerBefore paying points, compare how long you might keep the loan
The discussion focuses on recovering the upfront cost of discount points. A lower rate can be valuable, but the timing matters if you sell, refinance or pay off the loan before the expected savings accumulate.
Read the answerA lower rate can cost more than the time you will keep the loan
Eric warns that an attractive rate may require enough upfront expense to take years to recover. The right comparison depends on how long you expect to keep that loan, not just that home.
Read the answerNo cash at closing does not mean a refinance has no cost
The clip highlights a key refinance question: how much will you owe on the new loan? A smaller payment can coexist with a larger balance when costs are financed.
Read the answerRefinancing does not have to restart a thirty year clock
Eric starts this video with a useful question: what do you want the refinance to accomplish? Lowering the monthly payment and reaching the payoff date sooner are different goals.
Read the answerEvaluate a refinance without waiting for a perfect rate
Eric’s October 2024 example compares taking an available refinance with waiting for a larger rate drop. The decision should include the new costs and loan term, not just the rate you hoped to see.
Read the answerFour questions to ask before accepting a refinance
Eric’s refinance conversation begins with the homeowner’s goal and timeline. A lower quoted rate is only one part of deciding whether replacing an existing loan makes sense.
Read the answerAsk where the costs go in a no-closing-cost refinance
The clip urges borrowers to look past the phrase no cost. A refinance may reduce the cash you bring to closing while still charging costs through the loan balance, interest rate or another part of the transaction.
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