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Mortgage Market Update
Timothy Barbieri
Timothy Barbieri
Saturday, October 31, 2026
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Does refinancing make sense for you? |
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A Note From Timothy Barbieri
A quick update from our team
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Some weeks I get calls asking whether it's time to refinance. The answer is almost never a simple yes or no. Let me walk you through what actually matters when you're thinking about it.
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Refinancing Basics
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates look attractive. The real question is whether the long-term benefit outweighs what you'll pay upfront to refinance—closing costs, appraisal fees, and time. Sometimes it does; sometimes you're better off staying put. The break-even point depends on your specific situation: how long you plan to stay in the home, how much you've already paid down, and what your current rate and loan terms are. That's why a conversation with me matters more than a headline promising savings. Let me run the actual numbers for your loan and show you whether refinancing pencils out for you.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Timothy Barbieri team any time and we'll walk you through your options. |
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6 Wills Way, Building 2 Piscatway NJ 08854
732-476-9230 | https://www.petracephas.com/applywithtim
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