Refinance Loans
Lower your payment, tap equity, or restructure your loan.
Refinancing replaces your current mortgage with a new one, ideally with better terms. Homeowners refinance to lower their interest rate or payment, shorten their loan term, remove mortgage insurance, switch loan types, or convert home equity into cash.
What a Refinance Loan Looks Like
A quick read on who this program fits, what it takes to qualify, and where the money goes - so nothing feels like a surprise.
Who It’s For
Lower your payment, tap equity, or restructure your loan.
- Homeowners with a rate meaningfully above today's market
- Homeowners paying PMI who have reached 20% equity
- Homeowners wanting to shorten their term to save on interest
How You Qualify
Underwriting reviews credit, income, and the property together to build the loan.
- Sufficient home equity (varies by refinance type)
- Current on your mortgage payments
- Credit and income re-verified in most cases
What It Costs
N/A - refinancing uses your existing equity in place of a down payment. - Refinance closing costs typically run 2%–5% of the loan amount. Some programs allow you to roll them into the new loan.
- Lower monthly payment (rate-and-term refinance)
- Remove PMI if you've reached 20% equity
- Tap equity as cash (cash-out refinance)
What You’ll Need to Qualify
- Sufficient home equity (varies by refinance type)
- Current on your mortgage payments
- Credit and income re-verified in most cases
- New appraisal for most non-streamline refinances
Have These Ready
- Current mortgage statement
- Recent pay stubs and W-2s
- Two months of bank statements
- Homeowners insurance declaration page
- Photo ID
Not Sure If You Qualify Yet?
A licensed loan advisor will walk your numbers with you - no credit pull, no obligation. You’ll leave the call knowing exactly what to fix first.
The Upside - and What to Weigh
Every program has trade-offs. Here’s the honest picture side by side, without the marketing gloss.
Benefits
- Lower monthly payment (rate-and-term refinance)
- Remove PMI if you've reached 20% equity
- Tap equity as cash (cash-out refinance)
- Streamline options for FHA and VA loans with less paperwork
Considerations
- Closing costs apply - a break-even calculation is important
- Extending your loan term can increase total interest paid
- Cash-out refinances reduce your home equity
- Homeowners planning to sell within 12–18 months
- Homeowners whose rate savings won't clear closing costs
- Borrowers whose credit has fallen significantly since original close
Run the Numbers on a Refinance Loan
Adjust the price, down payment, and rate to see an estimated monthly payment. Great for narrowing the search before you formally apply - a quick preapproval confirms your real numbers.
Estimate only. Taxes, insurance, and PMI vary by location and loan program.
Get Preapproved
From Application to Keys in Streamline refinances can close in as little as 2–3 weeks. Standard refinances usually close in 30–45 days.
- 01Apply
Quick online form or a 10-minute call.
- 02Verify
Income, assets, and credit reviewed together.
- 03Appraisal
Property value confirmed for the loan amount.
- 04Close
Sign, fund, and get your keys.
More for Refinance Loans Shoppers
Compare Similar Programs
Run the Numbers
Read up Before You Apply
- When Does a Refinance Actually Make Sense?
A break-even framework that ignores marketing and looks at your real numbers.
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Open
Questions We Hear About Refinance Loans
Can’t find yours here? A licensed advisor can walk through your specific situation in under 15 minutes.
Straight answers, no pressure - email or call directly.
See if a Refinance Loan Fits Your Situation.
A 10-minute preapproval gives you real numbers and a licensed advisor to answer questions - no pressure, no obligation.
