Do you have the best mortgage rate?
Whether you want to lower your monthly mortgage payments, pay off your mortgage faster or get cash from your home, refinancing your mortgage could save you thousands.FIND MY BEST RATES
What is a mortgage refinance?
Refinancing your mortgage is simply replacing your current mortgage with a new one. The new loan pays off the old loan, and you’ll start making payments on the new loan. People refinance their mortgages for all sorts of reasons – including lowering their monthly payment, getting a better interest rate, taking cash out of their home, shortening their loan term, or a combination of the above.
Just as you would shop around for your home, it’s equally as important to shop around for your home loan. By comparing lenders and having them compete for your business, you’re certain to get the best rate possible on your mortgage refinance. The better your rate, the lower your payment will be and the more money you will save over the life of your loan.
Choose the type of refinance loan that’s right for you
Cash-out refinancing vs traditional refinancing
When you refinance your mortgage, you have two options: You can refinance your existing loan to a new loan with a new rate and term (known as a traditional mortgage refinance), or you can take out above and beyond what you owe on your current mortgage to put some extra cash in your pocket (also known as a cash-out refinance).
View the current rates and see what your new payment would be by starting below.
How much does a mortgage refinance cost?
Whenever you take out a new loan, you’re going to pay fees and closing costs associated with that loan. A mortgage refinance is no different. Typically, you’ll need to pay an application fee, a loan origination fee, an appraisal fee, and more. View all of the costs and fees of a mortgage refinance so you are aware of possible fees a lender may charge you. You can use a refinance calculator to determine your break-even point, or the point in which the savings on your mortgage will cover the cost of the refinance.COMPARE REFINANCE OFFERS