Free Mortgage Check-Up: Is It Time to Refinance Your Home?

September 24, 2025•4 min read

Free Mortgage Check-Up: Is It Time to Refinance Your Home?

If you own a home in Connecticut, Florida, New York, or North Carolina, chances are you’ve asked yourself: “Is now a good time to refinance?” Mortgage rates move constantly, life situations change, and what worked when you bought your home may not be the best option today. That’s where a free mortgage check-up comes in.

At Northeast Financial, we work with homeowners every day across Connecticut and Florida (as well as NY and NC) to answer the most common questions about refinancing—and to run the numbers so you can see if a refinance makes sense for your situation.

1. What Does a Refinance Cost in CT and FL?

Every refinance comes with some closing costs, but the amount can vary based on loan size, property type, and state. Typical fees include:

Lender and underwriting fees
Appraisal fees (sometimes waived!)
Title and recording charges

For Connecticut homeowners, closing costs can differ depending on local property taxes and title charges. In Florida, homeowners often see lower closing costs, but insurance-related expenses can play a role.

Many homeowners choose to roll these costs into the loan, so there is little to no out-of-pocket expense. A Connecticut or Florida refinance check-up will show you exactly what your numbers look like.

👉 Click here to schedule your free mortgage check-up now.

2. How Long Does a Refinance Take?

On average, a refinance takes 14–21 days from start to finish. This depends on how quickly documents are provided, whether an appraisal is required, and the lender’s current pipeline.

In Florida, refinances can sometimes move faster because of streamlined title processes. In Connecticut, timelines may vary depending on municipal requirements, but most homeowners can still expect a 2–3 week window.

3. Can I Really Skip Two Mortgage Payments?

This is one of the most misunderstood parts of refinancing. While it may feel like you’re skipping payments, here’s what actually happens:

Your new loan pays off your old loan in full, including any interest owed.
Depending on when your refinance closes, you may not have a payment due for the next 30–60 days.

Think of it more like a timing shift than truly skipping payments—but it can provide short-term cash flow relief.

4. When Is It a Good Time to Refi?

The math matters. A refinance generally makes sense if:

You can lower your rate enough to offset closing costs in a reasonable time frame.
You want to shorten your term to pay off your home faster.
You want to consolidate debt or tap into equity at a lower cost.

For Connecticut homeowners, this might mean lowering your monthly payment to offset high property tax burdens. For Florida homeowners, refinancing can be a powerful tool to free up cash flow for home improvements, hurricane prep, or investment property purchases.

The “break-even point” is the key calculation—if you save $300 per month and the refinance costs $3,600, you break even in 12 months. After that, every dollar saved is pure benefit.

5. How Many Years Can I Shave Off My Mortgage?

This is where refinancing gets exciting. Let’s say you’re paying $2,000/month on your current mortgage. If refinancing lowers your payment to $1,600/month but you keep paying $2,000, you’re applying an extra $400 directly toward your principal each month. That can: