Refinancing
Refinance your mortgage. Change your situation.
Why Refinance
Lower your payment. Build equity faster. Access your equity.
Refinancing replaces your current mortgage with a new one. You might do this to get a lower rate, change your loan term, or pull out cash for home improvements, debt payoff, or other needs. The right refinance saves you money or changes your financial picture. The wrong one costs you time and fees. We help you figure out which is which. We don't push you toward a refinance if your current loan is already working. We also don't charge you fees for an honest answer. If refinancing makes sense, we make it fast and clear. If it doesn't, we tell you that too.
Refinance products that match your goals
Switching your mortgage is different from getting one in the first place. You already own the home. You already have a loan. Now you're replacing it with something better. Pick the product that gets you where you want to go.
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Rate-and-Term Refinance
Replace your loan with a new one at a different rate and term. No cash comes out. You're just swapping one mortgage for another. Lowest cost refinance. Choose this if lower payments or a shorter payoff timeline is your goal.
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Cash-Out Refinance
Borrow against your home's equity and get cash at closing. You're refinancing for more than you owe, and the difference goes to you. Use it for home improvements, debt payoff, or other needs. Costs more than a rate-and-term refinance but gives you access to capital.
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FHA Streamline Refinance
If you have an FHA loan, this refinance has fewer requirements and moves faster. Lower documentation. Lower cost. Same idea: replace your loan with better terms. Only available if your current loan is FHA.
Refinancing questions answered
Refinancing looks complicated. These answers make it clear.
When does it make sense to refinance?
When your new loan will save you money or change your situation for the better over time. That usually means a lower rate, a shorter term, or access to equity. Run the numbers. If you'll stay in the home long enough for the savings to exceed the costs, refinance. If not, skip it.
How long does refinancing take?
Four to six weeks from application to closing. Some steps can't be rushed—appraisals take time, underwriters review carefully, title work has to be right. We move fast within those constraints. You'll know the timeline upfront.
What's the cost to refinance?
Similar to your original mortgage: appraisal, title work, loan origination, title insurance. Usually two to three percent of the loan amount. Know the costs before you commit. Sometimes they're worth it. Sometimes they're not.
Can I refinance if I've only owned the home a short time?
Yes. You don't have to wait. If rates dropped or your situation changed, refinancing might still make sense. The shorter your expected payback period, the harder it is for refinancing to pay for itself. We'll show you the math.
What happens to my current loan when I refinance?
It gets paid off at closing. Your new lender funds the new loan, the money goes to pay off the old one, and any leftover cash comes to you. Your old lender releases the lien. You're done with them.
Do I need an appraisal to refinance?
Usually yes, unless it's an FHA streamline or your new lender waives it. The appraisal confirms your home's current value. If it's higher than expected, you might have more equity to tap. If it's lower, it affects what you can borrow.
See if refinancing saves you money
Enter your current loan details and the new rate you're considering. The calculator shows you your new payment, how much interest you'll save, and how long it takes to break even on refinancing costs. This is math, not a promise. Your actual savings depend on how long you stay in the home.
Calculator results are estimates provided for illustrative purposes only and may not reflect actual loan terms. This is not a commitment to lend, a preapproval, or an offer of credit. Actual rates, payments, and costs depend on credit approval, satisfactory appraisal, and underwriting guidelines. Consult a licensed loan officer for details.