Home Refinance
Refinance to lower your payment, adjust your timeline, or tap your equity
Refinancing replaces your current mortgage with a new one, and it might make sense at different points in your homeownership journey. If interest rates have dropped since you bought, refinancing to a lower rate could mean meaningful savings on your monthly payment. If you've paid down your loan significantly, you might refinance into a shorter term to build equity faster. Or if your home has appreciated, you might refinance to tap that equity for a major expense, home improvement, or consolidating other debt. The right refinance depends on your goals, how long you plan to stay in your home, and the costs involved. We'll help you understand whether refinancing makes financial sense for your situation.
Calculate your refinance savings
Use this calculator to see how a refinance might affect your monthly payment. Enter your current loan details and the new rate you're considering to get a clear picture of potential savings.
Calculator results are estimates provided for illustrative purposes only and may not reflect actual loan terms. This is not a commitment to lend, a preapproval, or an offer of credit. Actual rates, payments, and costs depend on credit approval, satisfactory appraisal, and underwriting guidelines. Consult a licensed loan officer for details.
The refinance process explained
Refinancing follows a similar path to your original mortgage, but typically moves faster since you already own the home.
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Apply and Get Approved
We'll review your current loan, home value, and financial situation. You'll provide updated financial documents, and we'll assess whether refinancing makes sense for you.
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Property Appraisal and Underwriting
We'll order an appraisal to confirm your home's current value. Our underwriting team will review all documents and clear any conditions before we're ready to close.
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Close Your New Loan
Sign your closing documents, and we'll pay off your old loan with the new one. Your new payment terms begin after closing.
Common refinance questions
Learn more about refinancing and whether it might be the right move for your home and finances.
When does refinancing make financial sense?
Refinancing typically makes sense when you can lower your interest rate, shorten your loan term, convert from an adjustable to a fixed rate, or access equity for an important goal. However, refinancing comes with costs—closing costs, appraisal fees, and other expenses. We'll help you calculate whether the long-term savings outweigh the upfront costs.
Can I refinance if I have a low credit score?
Credit requirements for refinancing are similar to those for a purchase mortgage. However, if your credit has improved since you bought your home, refinancing might be available to you now even if it wasn't before. We'll be honest about your options based on your current credit profile.
How long does refinancing take?
Refinancing typically takes 30 to 45 days from application to closing, though it can be faster in some cases. Since you already own the home, there's no appraisal contingency like there would be on a purchase, which can speed things up.