If the math works, we move. If it doesn't, I'll say so.
I pull your current loan details, run the break-even, and give you a straight answer. Not a sales pitch.
Overview
A rate-and-term refinance replaces your existing mortgage with a new one at a different rate or term. The goal is simple: pay less. Either per month, in total, or both.
The only thing that matters is the break-even. Total closing costs divided by monthly savings tells you how many months it takes to recoup the cost. If that number is reasonable and you're staying in the home long enough, we move. If it's not, I tell you the rate you'd need to hit before it makes sense. Then I check back when we get there.
I don't refinance people who shouldn't refinance. That's not how I build a business people refer.
Key Details
How I Handle This
I pull your current loan details. Rate, balance, remaining term, MI status. Then I price the new loan across my network and build a side-by-side that shows what changes and what it costs.
If the savings are real, you see the proof. If they're marginal, I tell you what rate to wait for and I actually follow up when we get there.
Questions I Get
How do I know if refinancing is worth it?
The break-even tells you. If closing costs are recovered through monthly savings in a reasonable timeframe and you're staying in the home, it's worth it. I calculate this for you.
Can I refinance to drop mortgage insurance?
Yes. If your home has appreciated or you've paid down enough principal, switching from FHA to conventional can eliminate MI entirely. I check whether the equity is there.
Do I need an appraisal?
Not always. Many conventional refinances qualify for value acceptance. I check eligibility before we start.
How long does it take?
Most refinances close in two to four weeks. Simpler files with appraisal waivers close fastest.
Wondering if it's time?
Send me your current rate and loan balance. I'll run the break-even and give you a straight answer.