Best for
Homeowners whose rate, term, or mortgage insurance no longer fits their situation.
- Break-even analysis before you apply
- Remove FHA mortgage insurance by moving to conventional
- 30-year, 20-year, and 15-year options side by side
When it makes sense
The honest test is break-even: total closing costs divided by monthly savings. If you'll stay in the home well past that break-even month, a refinance usually pays. If you're moving in a year, it usually doesn't — and I'll tell you so.
What we review
Current balance and rate, remaining term, estimated value, credit, and whether you're paying mortgage insurance. Many homeowners who bought with 3%–5% down now have enough equity to drop MI entirely.
Timeline
Average loan closed in 15 days or less. Owner-occupied refinances include a three-day right of rescission after signing before funds disburse.