Refinance
Make your mortgage work better for you.
Lower your payment, change your term, move to a fixed rate or tap your home's equity. We'll compare your current loan with your options side by side, so you can decide with real numbers.
Why refinance?
Your goals changed. Your mortgage can too.
Lower your monthly payment
A lower rate, a longer term or a different loan structure may reduce your principal and interest payment.
Pay it off sooner
Move to a shorter term to build equity faster and pay less interest over the life of the loan.
Take cash out
Borrow against your equity for home improvements, debt consolidation, major expenses or other goals.
Switch to a fixed rate
Trade an adjustable rate for a payment that stays the same for the life of the loan.
FHA refinance options
Rate-and-term, cash-out or streamlined options may be available for eligible FHA homeowners.
VA refinance options
Eligible veterans and service members may have streamlined (IRRRL) or cash-out options.
Is it worth it?
Estimate your break-even point.
Divide your closing costs by your monthly savings to see how long it takes to come out ahead.
Estimated break-even
Estimate only. Principal and interest only. Rates shown are examples, not quotes. A longer new term can lower your payment but increase total interest.
How it works
A refinance in four steps.
- Tell us your goal
Lower payment, shorter term, cash out or a fixed rate. The goal decides which options make sense.
- Compare the numbers
We'll put your current loan next to the proposed one, with costs, savings and long-term impact.
- Apply and verify
Complete the secure application and provide documents. We'll order the appraisal or valuation if it's needed.
- Close
Review your final documents and sign. Your new loan pays off the old one.
Be ready
What to have on hand
- Current mortgage statement
- Homeowners insurance declarations page
- Recent pay stubs and W-2s or tax returns
- Recent bank or asset statements
- Photo ID
- VA or FHA case details (for streamline options)
FAQ
Refinance questions
How much equity do I need to refinance?
Equity requirements depend on the program, property type, occupancy and whether you're taking cash out. We'll look at your home's value and current balance to show what's possible.
Can refinancing remove mortgage insurance?
Potentially. It depends on your current loan, the new loan program, your home's value and the applicable guidelines.
How much does refinancing cost?
Costs vary and can include lender charges, appraisal or valuation, title-related costs and prepaid items. You'll receive disclosures that itemize the costs of your proposed refinance.
Can I refinance if my credit has changed?
Potentially. Credit requirements vary by program, and your credit is one of several factors that determine eligibility and terms.
How do I know if refinancing is worth it?
There's no single rate drop that automatically makes it worthwhile. Compare your current loan with the new one, including costs, the new term and how long you plan to stay. The break-even estimate above is a good starting point.