How Many Times Can You Refinance Your Home Loan?

You can refinance your mortgage as many times as you want, but you should weigh the pros and cons to figure out if it makes financial sense.

If interest rates have fallen and you can refinance to a lower rate, you might save thousands of dollars in interest and enjoy lower monthly payments.

You might qualify for a lower interest rate if your credit score has risen since the last time you refinanced.

If you’re making more money now, you can refinance and pay off your loan sooner.

If your income is lower, refinancing can reduce your monthly payments.

When you refinance, you’ll have to pay closing costs and possibly a prepayment penalty. 

Compare the upfront cost to the potential savings and figure out if refinancing again is the right move for you.