Refinance
Refinancing isn't always the right move.
Sometimes it saves real money. Sometimes the math doesn't work. Here's how to tell the difference before you commit to anything.
Questions worth answering first
What would actually improve? Compare the payment, total cost, loan term, and break-even point—not only the advertised rate.
How long until the costs are recovered? A refinance becomes useful only if you expect to keep the loan long enough to move beyond its break-even point.
Changing the loan or accessing equity? Lowering the cost of an existing balance and taking cash from your equity are separate decisions with different tradeoffs.
What are you trying to do?
Change my rate, payment, or repayment timeline Keep the same purpose — pay off this home — and see what a better rate or a different term actually changes. Compare rate & term options → Borrow against my home's equity The same cash goal reached three different ways — a cash-out refinance, a home equity loan, or a HELOC. Compare ways to take cash out →
Where to start
Not sure which of these fits?
A ten-minute conversation is usually enough to tell you.