Refinance

Rate-and-term refinance

The classic refi. Trade your current rate and/or term for something better — lower monthly payment, faster payoff, or both. The break-even math (how long it takes for the savings to cover the closing costs) is the whole game here, and I'll run it for you honestly.

Cash-out refinance

Replace your mortgage with a larger one and take the difference in cash. Great for home improvements, consolidating higher-interest debt, or funding a major expense. Typically capped at 80% of your home's appraised value on a primary residence.

FHA & VA streamlines

If you already have an FHA or VA loan, streamline refinances (FHA Streamline, VA IRRRL) let you lower your rate with minimal documentation — often no appraisal and no income re-verification. Fast, clean, and low-cost.

Dropping mortgage insurance

If you started with FHA and now have 20%+ equity, refinancing into a conventional loan can eliminate MIP entirely — often a bigger monthly win than the rate change itself.

When a refi makes sense

• Rates have dropped meaningfully since you closed
• You want to shorten your term (30 → 15 or 20)
• You have 20%+ equity and want to drop mortgage insurance
• You need cash for renovations, debt payoff, or investment
• You're moving from an ARM into a fixed rate before adjustment

Worth knowing

Every refi has closing costs. I won't recommend one unless the math clearly works for how long you plan to keep the loan. If it doesn't pencil out, I'll tell you — that's the whole point of a conversation before the paperwork.