For any number of reasons, you’re considering breaking your mortgage and starting a new one. Depending on how much time is left on your term, there may be a penalty to break out early. This is why one of the most important steps when you are refinancing your home, is crunching the numbers to be absolutely sure it makes sense. You must consider important points like rates, charges, short-term vs long term savings and above all a value based mortgage service tailored to your needs.