Refinancing
Only refinance when the math clears the closing costs.
A decision path for lowering your rate, shortening your term, or pulling equity out of a home you already own.
Your step-by-step path
- 1
Price the new loan
Model the new rate and term before anything else.
Open Mortgage Refinance Calculator - 2
Add the closing costs
Refinancing is a new loan with new fees, typically 2–5%.
Open Closing Costs Calculator - 3
Find the break-even month
Divide costs by monthly savings — that is your minimum stay.
Open Break-Even Calculator - 4
Test cash-out vs a HELOC
Pulling equity? Compare a cash-out refinance with a line of credit.
Open Cash-Out Refinance Calculator - 5
Consider a recast instead
A lump-sum recast can lower the payment without new closing costs.
Open Mortgage Recast Calculator - 6
Check the payoff impact
Confirm a lower payment does not quietly add years of interest.
Open Mortgage Payoff Calculator
Best calculators for this decision
Mortgage Refinance Calculator
Compare current mortgage to a refinance; find break-even.
Closing Costs Calculator
US home purchase closing costs — 2-5% of price.
Cash-Out Refinance Calculator
How much cash you can pull from your home with an 80% LTV refinance.
Mortgage Payoff Calculator
How extra payments shorten your mortgage and cut interest.
Mortgage Points Calculator
Should you buy discount points to lower your rate?