Being “mortgage ready” doesn’t necessarily mean having perfect credit, a 20% down payment, or a completely debt-free financial life. It means having a financial foundation that can support both getting approved for a mortgage and successfully managing homeownership expenses after you move in. So, how do you know if you’re getting there?

When you're choosing a mortgage lender, you're making one of the largest financial decisions of your life. Most borrowers compare rates, loan options, and service. Those are all important aspects of choosing your mortgage lender. But there's another question worth asking: What impact does my mortgage have beyond my own home purchase? 

Refinancing isn’t automatically beneficial just because interest rates have changed. The right time to refinance depends on your current mortgage, your financial goals, the costs of a new loan, and how long you expect to remain in your home. Read on to learn more about the factors that can influence your decision to refinance.