Loan programs
Lower the rate, shorten the term, drop the mortgage insurance, or take cash out.
A refinance replaces your existing mortgage with a new one. Whether it is worth doing comes down to one number: the break-even month, where the monthly saving has repaid the closing costs.
We run that calculation before you pay for anything, and we tell you when the answer is to wait.
How it works
Closing costs divided by monthly saving. Under your holding period, it makes sense.
Pay costs for the lowest rate, or take a credit and a higher one.
Refinances usually let you skip one month while the loans change hands.
Questions
Not automatically. We price a matching-term option beside it so you can see the lifetime interest difference, not just the payment.
You keep at least 20% on a primary residence. On investment property the requirement is higher.
Guidelines shown are typical for this programme and are not a commitment to lend. Overlays vary by investor and change without notice; your file is priced and approved on its own facts.
Three minutes of questions and you'll see whether this programme fits — no credit pull.
