When interest rates drop, many homeowners immediately start thinking about refinancing their mortgage. On the surface, it sounds like a simple decision—lower rates mean lower payments, right? But the truth is, refinancing isn’t always the best financial move, even if you qualify for a reduced rate.
At Indigo Mortgage, we believe in shooting straight with borrowers. Our president, Ben Lucero, has built Indigo Mortgage on the foundation of honesty, transparency, and putting the borrower’s needs first. His role isn’t to pressure anyone into a refinance, but to provide the clearest possible analysis so homeowners can decide for themselves.
When Refinancing Doesn’t Make Sense
One of the most common questions Ben Lucero hears is: “When should I refinance my home loan?” It’s an important question, and one that doesn’t have a one-size-fits-all answer. The reality is that a lower rate doesn’t always justify a refinance.
Just this week, Ben spoke with three different borrowers who all asked if now was the right time to refinance. Each of them was eligible for a lower rate, but after running the numbers, the conclusion was the same: refinancing wasn’t in their best interest right now. The costs involved in refinancing, paired with the current timing of rate trends, meant they were better off sticking with their existing mortgages and waiting a bit longer.
This highlights why borrowers need expert, local advice when asking, “When to refinance your home loan?” Instead of jumping at the chance for a lower rate, it’s better to work with someone like Ben Lucero at Indigo Mortgage, who takes the time to carefully evaluate each borrower’s unique financial situation.
The Costs and Timing of Refinancing
Refinancing can save money in the long term, but only if the savings outweigh the upfront expenses. Closing costs, fees, and the reset of your loan term all play a role. For example, if you refinance into a lower rate but extend your mortgage term by several years, you could actually pay more in interest over the life of the loan.
Another factor is timing. Right now, many experts—including Ben Lucero—anticipate that rates will continue to drop. For some borrowers, waiting a few months could mean a much better opportunity. For others, locking in sooner may make sense. This is why the question of when to refinance your home loan should be based on careful analysis, not just the excitement of seeing a lower rate advertised online.
Why A Local Mortgage Company Matters
Big national lenders and online companies often take a cookie-cutter approach to refinancing. Many borrowers report that these companies are pushy, aggressive, and more interested in closing a deal than in giving good advice.
By contrast, Indigo Mortgage is a locally owned and operated company in New Mexico. Ben Lucero and his team live and work in the same community as their clients. Their reputation depends on giving honest, straightforward guidance. When you call Indigo Mortgage, you won’t get a sales pitch—you’ll get a real conversation about your finances, your goals, and your options.
Ben Lucero’s philosophy is simple: treat every borrower like a neighbor. If refinancing doesn’t make sense for you right now, he’ll tell you straight and encourage you to wait until it does. This commitment to honesty has made Indigo Mortgage one of the most trusted names in mortgage lending across Albuquerque and the state of New Mexico.
Understanding “When to Refinance Your Home Loan”
To better understand the right timing, consider these factors:
- How long do you plan to stay in your home? If you plan to sell in a couple of years, the refinance savings may never outweigh the upfront costs.
- What’s your current loan balance and rate? A small balance with only a few years left may not benefit much from refinancing.
- What’s your credit score and financial profile? The better your credit, the more favorable the refinance options.
- Where are rates headed? With rates trending downward, waiting could give you a bigger advantage.
Each of these points needs to be weighed carefully, and that’s where a conversation with Indigo Mortgage can make all the difference. Ben Lucero and his team provide clear, easy-to-understand analysis so borrowers can feel confident about their decision.
Real-Life Example From Indigo Mortgage
Recently, a borrower came to Indigo Mortgage excited about dropping their rate by half a percent. On paper, that sounded like a win. But after analyzing the costs and timing, Ben Lucero showed them that refinancing at that moment would actually cost them thousands more over the life of the loan. By waiting just a few months, they could take advantage of potentially lower rates and save significantly more.
The borrower’s response? Relief. They appreciated having someone explain the reality rather than push them into a quick refinance. That peace of mind is why so many New Mexicans trust Indigo Mortgage when deciding when to refinance their home loan.
Community Trust and Local Expertise
Indigo Mortgage isn’t just a lender—it’s part of the New Mexico community. Ben Lucero has built relationships with homeowners across the state by staying true to his word and always acting in the client’s best interest. Word of mouth has been one of the company’s strongest growth tools, with past clients recommending Indigo Mortgage because they know they’ll get honest advice.
National lenders can’t replicate that kind of trust. They don’t know the local market, the trends in New Mexico, or the unique financial situations of our communities. Indigo Mortgage does, and that makes all the difference when deciding if and when to refinance your home loan.
Talk to Indigo Mortgage Today
If you’re asking yourself whether refinancing makes sense right now, don’t rely on a flashy online calculator or a high-pressure sales pitch from a national company. Instead, talk to Ben Lucero and the Indigo Mortgage team. They’ll walk you through the numbers, explain your options, and give you a straight answer about what’s best for you.
Contact Indigo Mortgage today to discuss your mortgage options and find out what’s truly in your best interest.