break even - The Mortgage Porter

If you bought your home in the past few years and your interest rate starts with a 6… or maybe even a 7… you’re not alone.

One of the most common questions I’m hearing right now is:

“I bought my home at 6.75%. Should I refinance?”

One of the most important questions to ask before refinancing is:

“How long will it take me to recover the cost?”

That’s your break-even point.

After helping Washington homeowners with mortgages for over 25 years, I can tell you this:

Refinancing isn’t just about getting a lower rate.
It’s about making sure the math works for your timeline.

Let’s walk through how break-even works — and when it matters most. [Read more…]