Refinance Reality Check: What First-Time Homebuyers Must Know Before Believing the Hype"

If you were told you’d be able to refinance in 6, 9, or 12 months after buying your home—this blog is for you.

On a recent live session, a viewer asked if there was any recourse because a lender or agent told her she could refinance shortly after closing. Unfortunately, unless that promise was in writing, there is no legal recourse. Verbal assurances about refinancing hold no weight at closing, and nothing in standard mortgage documents guarantees a future refinance.

Here’s the truth: refinancing is never guaranteed. It only makes financial sense if your new rate is at least 1% lower and you plan to stay in the home long enough to recover the costs—yes, there are costs. Even if you're not paying out of pocket, refinance fees are typically rolled into your loan, increasing your debt and sometimes restarting your mortgage term.

Many homebuyers from 2022–2023 were sold on the phrase "date the rate, marry the house" as rates began to rise. But it’s now 2025, and we haven’t seen the significant rate drops some expected. If you bought assuming you'd refinance to make your mortgage affordable, you may now be struggling—especially if you’re facing increased taxes, insurance, or the end of a tempo#rary buydown.

Here’s what you can do:

• If you already own: tighten your budget and learn when it actually makes sense to refinance.

• If you haven’t bought yet: don’t purchase at the top of your budget assuming you’ll refinance later. Love your mortgage rate from day one—or buy a less expensive home.

Buying a home should improve your financial position, not strain it. Be informed, ask the right questions, and make sure you’re buying smart.

Need more guidance? Check out my First-Time Homebuyer Masterclass to get confidently closed.