Home Loans
Refinance
Lower your rate, tap your equity, or shorten your term. See how much you could save.
Overview
What Is a Refinance?
Refinancing your mortgage means replacing your existing loan with a new one that offers better terms. Whether you want to lower your monthly payment, shorten your loan term, switch from an adjustable to fixed rate, or access your home equity, refinancing can be a powerful financial tool.
Key Benefits
Why Choose This Program?
- ✓ Lower your interest rate and monthly payment
- ✓ Shorten your loan term (e.g., 30yr → 15yr)
- ✓ Convert adjustable rate to fixed rate
- ✓ Cash-out option for home equity access
- ✓ Streamlined options for FHA and VA loans
Requirements
What You’ll Need
- ✓ Sufficient home equity (typically 20%+)
- ✓ Current on existing mortgage payments
- ✓ Stable income and employment
- ✓ Property appraisal may be required
Who Should Choose This Loan?
Is the Refinance Right for You?
- ✓ Homeowners wanting a lower interest rate
- ✓ Those looking to shorten their loan term
- ✓ Borrowers wanting to tap home equity
- ✓ Homeowners with improved credit since purchase
Frequently Asked Questions
Refinance FAQ
When is the right time to refinance?
Generally, if you can lower your rate by 0.5–1% or more, refinancing is worth considering. We’ll help you calculate the break-even point.
How much does it cost to refinance?
Closing costs typically range from 2-5% of the loan amount. These can sometimes be rolled into the new loan.
What’s the difference between cash-out and rate-and-term refinance?
Rate-and-term replaces your current loan with better terms. Cash-out lets you borrow against your equity and receive the difference in cash.
Can I refinance an FHA or VA loan?
Yes. FHA streamline and VA IRRRL programs offer simplified refinancing with reduced paperwork and no appraisal in many cases.
Not sure if the Refinance is right for you? Compare all loan programs →
Ready to Refinance?
Get a personalized rate quote and see how much you qualify for.