Same Home, Better Terms · Everyone Welcome
Refinance Your Mortgage
A refinance replaces your current mortgage with a better one — lower rate, shorter term, or both. The math either works or it doesn't, and we'll show you the break-even honestly: what it costs, what it saves, and exactly how many months until you're ahead.
Lower Rate / Term
Goal
None
Cash Out
Break-Even Months
The Test
Often Possible
PMI Removal
When a refinance makes sense
The classic trigger is a rate meaningfully below your current one — but the real test is break-even: closing costs divided by monthly savings. Under 24–36 months with plans to stay put, the math usually works. We run it in writing before you commit to anything.
Refinancing out of FHA insurance is its own category of win: at 20% equity, moving to conventional can erase the monthly premium entirely — savings that don't depend on rates falling at all.
Straight Answers
Rate & Term Refinance: what buyers ask
How much does a refinance cost?
Typically 2–3% of the loan amount in closing costs, which can often be financed or offset with lender credits at a slightly higher rate. Every structure gets a break-even number so you can compare honestly.
When is refinancing worth it?
When savings recoup costs within your realistic stay-in-the-home window — commonly 24–36 months. We'll tell you plainly when it doesn't pencil.
Will refinancing restart my 30 years?
Only if you choose a new 30-year term. You can match your remaining term, or shorten it — a 30-to-15 refi at the right rate can save six figures in interest.
Do I need 20% equity to refinance?
No — rate-and-term programs exist at higher loan-to-value ratios. 20% equity mainly matters for dropping mortgage insurance.
I have a VA loan — is there a faster way?
Yes: the VA IRRRL streamline skips the appraisal and income re-verification in most cases. We have a whole calculator for it in our Tools section.
Compare
Other programs worth pricing
The Everyday Workhorse
Conventional Loans
The Accessible Path
FHA Loans
The $0-Down Secret
USDA Loans
Above the Limit
Jumbo Loans
Serving in the military, or served? The VA loan is our specialty — $0 down, no PMI, and usually unbeatable if you qualify.