Refinancing might sound like free money—but is it always the smart move? In this episode of Closing the Deal, Zach and Sam break down the truth about refinancing in today’s market. With the Fed cutting rates, marketing emails flooding inboxes, and homeowners eager to lower their payments, it’s more important than ever to know when refinancing saves you thousands—and when it could actually cost you more.

We cover the pros and cons, when refinancing makes sense, costly mistakes to avoid, and how to calculate your breakeven point. Whether you’re considering cashing out equity, removing PMI, consolidating debt, or just chasing a lower rate, this episode will give you the clarity you need before signing on the dotted line.

👉 If you’re curious about refinancing or want to know if now’s the right time for you, tune in and learn how to make the numbers work in your favor.

Chapters: 00:00 – Intro: Is refinancing really free money?

02:14 – Why refinancing is a hot topic right now

04:43 – Interest rate history and Fed cuts explained

07:37 – What refinancing actually is (definition & reasons)

10:22 – The main reasons people refinance (lower rate, cash-out, PMI removal)

16:15 – When refinancing makes sense (breakeven point, savings, FHA to conventional)

22:53 – The hidden costs of refinancing

23:16 – When refinancing is a mistake (extending loan terms, cash-out splurges)

28:49 – Biggest mistake: resetting your loan clock

28:49 – How to decide if refinancing is right for you (running the numbers, break-even math)

34:00 – Why Fed cuts don’t equal lower mortgage rates

36:40 – Final thoughts: Refinancing is nuanced, not one-size-fits-all

38:40 – Wrap-up & closing