Getting a lower interest rate doesn’t necessarily mean it’s a good time to refinance your mortgage. We often have borrowers call and ask, “Does it make sense for us to refinance?”
We take this question very seriously as borrowers really just need someone to shoot straight with them. We tell them that it’s not our job to convince them to refinance or not refinance, our job is to give the best analysis we can and let them decide if the refinance is in their best interest.
Recently, we had 3 different borrowers ask that question, and after the analysis, they agreed that a refinance was not in their best interest, even though they would get a much lower interest rate. In all these cases, the borrowers were better off sticking to their current mortgage. This is why it’s so important for borrowers to deal with a local company like Indigo Mortgage; we are part of this community and believe it’s important to deal with people fairly.
The internet lenders and big national lenders are going to engage any borrower who wants to refi, even if it’s not the best for them.
From what borrowers tell us, these lenders get very aggressive and are pushing the borrowers to sign the papers and get moving. As always, we encourage borrowers to stay local when looking for a home mortgage or refinance.

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