Should I Refinance?
Find out if refinancing your mortgage makes financial sense. See your break-even point, monthly savings, and whether it's worth the closing costs.
Your Current Loan
Check your latest mortgage statement
Principal & interest only (we'll estimate if blank)
New Loan Terms
Rate you've been quoted or expect to get
Typically 2-3% of loan amount (auto-estimated)
Extra cash you want to pull from equity
Important for determining if you'll break even
Enter Your Loan Details
Fill out the form to see if refinancing makes sense for you
When Does Refinancing Make Sense?
Rate Drop of 0.75%+
A general rule: if you can lower your rate by at least 0.75%, refinancing is usually worth exploring. The bigger the drop, the faster you'll break even.
Plan to Stay 3+ Years
Closing costs typically take 2-4 years to recoup through monthly savings. If you might move sooner, refinancing may not pay off.
Lower Monthly Payment
If cash flow is tight, refinancing to a lower rate or longer term can reduce your monthly payment - even if total interest is higher.
Watch for These Traps
Avoid resetting to a 30-year term if you've already paid down years. Be cautious with cash-out refis - you're paying interest on that cash for decades.