Is Refinancing Your Mortgage a Good Option?

Is Refinancing Your Mortgage a Good Option? It could be!

I recently had clients come to me with their mortgage renewal approaching. Like many homeowners, they were weighing two options:

• Simply renew with their existing lender for another term, or

• Explore whether refinancing might make more sense — especially with some credit card balances they wanted to clear up

They were a bit nervous about payments rising and weren't sure if rolling debt into their mortgage was the right move.

So, I did what I always do: I ran the numbers and looked at their full financial picture, not just the mortgage rate.

Here's what I found:

By refinancing and using some of their home equity to pay off their credit cards, they were able to lower their monthly payments significantly.

They kept their original mortgage payoff timeline— no extending their amortization.

And the big win? When I compared the interest they would have paid keeping their debt outside the mortgage vs. rolling it in, the mortgage strategy meant far less total interest paid overtime.

In short: they improved their cash flow today and saved a meaningful amount in the long run.

This is why renewal time matters — it's not just about picking a rate. It's an opportunity to look at your full financial picture and make a smart, strategic decision for your future.

If you have equity in your home and you're carrying debt, or if you're worried about payments increasing at renewal, there may be options to help ease the pressure while still keeping you on track with your goals.

Every situation is unique, and that's why I’m here — to run the numbers, look at the big picture, and help you move forward with confidence.