Deciding whether to refinance can feel a bit like trying to time the stock market you want to catch the perfect moment, but waiting too long could mean missing out on real savings. At OnPoint Mortgage,LLC, we hear this question from clients all the time:
Should I refinance now, or hold off until rates drop?
There’s no one-size-fits-all answer, but let’s look at a practical example.
The Cost of Waiting
Say a borrower could refinance today and save $700 a month that’s$8,400 a year in guaranteed savings. Sounds great, right?
Now, imagine they’re waiting for a specific target rate that, if reached, would only reduce their payment by about $60 per month.That adds up to $720 a year. Here’s the problem: by waiting,they’re giving up $8,400 in real savings today for the chance of a much smaller gain and that lower rate may never show up.
In other words, for every $1 they hope to save by waiting, they’re giving up more than $11 in actual, guaranteed savings. Waiting can quickly become a costly gamble.
The takeaway? Refinancing now often makes more financial sense than holding out for a marginal rate drop.
Refinance Options That Fit Your Goals
Refinancing isn’t one-size-fits-all. At OnPoint Mortgage, we offer solutions tailored to your situation:
- Rate and Term Refinance – Lower your payment or pay off your home faster.
- Cash-Out Refinance – Tap your home’s equity for debt consolidation, renovations, or other needs.
- No Cash-Out Refinance – Restructure your loan without taking additional equity.
- FHA & VA Mortgage Refinances – Flexible options for qualified buyers.
- Conventional Loan Refinances – A common path for lowering monthly payments.
- Jumbo Loan Refinances – For higher-balance loans above conventional limits.
- Non-QM Loans – For borrowers with non-traditional income sources.
- HELOCs – Flexible access to home equity as needed.
Every borrower’s situation is unique. That’s why working with a mortgage broker (see our Broker vs Bank blog) can open doors to more options than a single lender can offer.
Why Refinancing Now Makes Sense
Even if rates improve slightly in the future, refinancing today gives you:
- Immediate savings – Money you can use now instead of hoping for tomorrow.
- Faster equity growth – Lower payments free up cash for other financial goals.
- Cash access when needed – A cash-out refinance can fund renovations, debt consolidation, or education costs.
- Flexibility – If rates drop later, you may still have another opportunity to refinance.
We encourage clients to focus on the bigger picture real,measurable savings and long-term financial health rather than chasing the “perfect rate.”
Let’s Do the Math
Deciding whether to refinance now or wait shouldn’t be guesswork. At OnPoint Mortgage, we create side-by-side comparisons to show exactly how much you could save today versus the potential cost of waiting. That way, your decision is informed, not speculative.
Your Next Step
Don’t let uncertainty keep you from saving thousands:
- Apply Now to see what refinancing could mean for you.
- Schedule your appointment today! and we’ll walk through your options.
- Or visit OnPointMortgageLLC.com to learn more.
At OnPoint Mortgage, our mission is simple: clear communication, fast closings, and expert guidance to help you make confident financial decisions.
