Refinance
Refinancing your mortgage
Refinancing is a tool, not a goal. Here’s how to think clearly about whether it makes sense for your situation — and how we’ll run the math with you.
Why people refinance
- Lower the rate. Drop your monthly payment when market rates fall.
- Shorten the term. Move from a 30-year to a 20 or 15 and pay far less interest over the life of the loan.
- Take cash out. Use built-up equity for renovations, debt consolidation, a child’s tuition, or an investment.
- Drop mortgage insurance. If you’ve built enough equity, monthly MI can sometimes go away.
- Remove a co-borrower. Common after divorce, separation, or estate events.
- Consolidate a HELOC. Roll a variable-rate second into a single fixed first.
Refinance programs
- Conventional rate-and-term
- Conventional cash-out
- FHA Streamline (reduced documentation)
- FHA 203k (rolling renovation costs into the loan)
- VA IRRRL (Interest Rate Reduction Refinance Loan)
- USDA Streamline
- HELOC as an alternative to a cash-out refinance
The honest math
A refinance has real costs — closing costs, an appraisal, title work. Before you commit, we run the break-even math with you: the month at which your interest savings pay back what you spent to refinance. If you won’t own the home long enough to clear that break-even, or if the math just doesn’t work, we’ll tell you. Straight up.
Divorce-specific refinances
Refinancing to remove a spouse from a mortgage after divorce has its own rules — timing, income qualification, buyout of equity, and how the decree is worded all matter. Brian specializes in this area. If you or your attorney need to think through financing options around a divorce, reach out directly.