Refinancing a Home

Maybe you want a different monthly payment, a shorter or longer term, or access to some of your home's equity. Each goal points to a different conversation, so that's where I start.

We'll look at your existing balance, current rate and remaining term next to the proposed term, payment and closing costs. How long you expect to keep the loan matters too, because it affects whether the costs are worth it.

A lower payment can come from stretching the loan over a longer term, which can mean paying more total interest. We'll compare the upfront costs, monthly payment and interest over time so you can decide whether a change is worth it.

A cash-out refinance replaces your current loan with a larger one. Where available, a second-lien option leaves your first mortgage in place and adds a separate loan with its own payment and costs.

A second loan is also secured by your home, so your total obligations matter. Neither option is universally better. We'll compare them for your situation.

If the costs outweigh the benefit, I'll tell you. Keeping the loan you have is a perfectly good outcome.

It helps to know the basics of your current loan, like your approximate balance, rate and remaining term, along with what you'd like to change. There's no need to upload loan statements to get started.