Keep your mortgage or refinance?
A side-by-side review of your current loan and refinance options. If keeping your loan makes more sense, that answer is free too.
Refinance analysis
Your keep-or-refinance review
Compare your current loan with available options: monthly payment, closing costs, break-even timing, remaining term, and total interest. The recommendation may be to keep what you have.
Planning to upgrade the house? Carrying balances you would rather be rid of? Paying mortgage insurance you may no longer need? Those are all refinance conversations — and they all start with real numbers rather than a guess.
We will always give you straight answers, including when the answer is “not yet.”
Four reasons people refinance
Each one is worth checking. Together they are worth a five-minute conversation.
Lower your rate or payment
The straightforward one. If rates or your credit have moved since you closed, there may be real money on the table.
Shorten your term
Moving from a 30-year to a 20, 15, or even 10-year loan can save an enormous amount of interest.
Take cash out
Consolidate higher-interest debt, finish a remodel, or free up monthly cash flow using equity you already have.
Drop mortgage insurance
If you have built enough equity, refinancing out of FHA or off conventional PMI can cut your payment on its own.
How we decide whether it is worth it
Refinancing has a cost, so the only question that matters is whether the benefit outweighs it in a timeframe that makes sense for how long you are staying. We look at four things:
- Your break-even point. Total closing costs divided by your monthly savings. If you are moving before you reach it, refinancing does not pay.
- Where you are in the current loan. Restarting a 30-year clock after eight years of payments can cost you more in lifetime interest even at a lower rate. Sometimes a shorter term is the better answer.
- Mortgage insurance. Dropping FHA mortgage insurance or conventional PMI can be worth more than the rate change by itself.
- What the cash is for. Replacing high-interest debt with secured mortgage debt lowers the rate, but it also puts your home behind that balance. We will talk through it honestly.
No pressure either way. We would rather tell you to wait and earn your business later than put you in a loan that does not help you.
See what refinancing would save you
Free analysis, real numbers, no credit pull to get started.