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Mortgage Refinance Made Easy
Our platform allows you to compare personalized refinance offers from multiple lenders within minutes.
How to refinance your mortgage?
Wondering how the mortgage refinance process works? It’s easy to get overwhelmed by all of the details involved, but follow these five steps and you’ll be well on your way:
Have a question in mind?
Refinance when it guarantees long-term financial benefits. Understand the break-even point and how changes in payment will affect your monthly budget.
Considering recent interest rate fluctuations, you might be asking, “Should I refinance my mortgage?” Typically, if refinancing can lower your interest rate by 1% or more, it’s a good financial choice. Calculate your break-even point by dividing total closing costs by estimated monthly savings. As long as you stay in the home beyond the break-even point, refinancing will save you money in the long run.
Despite current interest rates not being ideal for obtaining a lower rate through refinancing, there are other financially advantageous reasons to consider it. These include eliminating mortgage insurance, lowering monthly payments, paying off the loan faster, avoiding adjustable-rate mortgage adjustments, tapping into home equity, and replacing a government-backed loan.