Mortgage Refinancing

You can refinance your mortgage by replacing it with a new mortgage that has different terms than the original mortgage. Why would a Borrower be motivated to do this? It is often done to get a lower Mortgage rate or to increase the amount borrowed. You should be aware that Borrowers will usually need to pay a Prepayment Penalty for breaking the original mortgage but this can often be incorporated into the balance of the new mortgage.

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About The Author

Don Scott

Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.

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Managing Uncertainty in Today’s Mortgage Market

By Don Scott • May 27, 2025

Feeling hesitant about entering the housing market today due to political or economic uncertainty is understandable. The landscape can seem unpredictable—interest rates shift, housing supply fluctuates, tariff news hits the headlines and policies change. As a mortgage broker, we see this uncertainty every day. But here’s the truth: while there is much beyond your control, mastering the factors that you can control is what will make the biggest difference in your journey to homeownership.