A lower payment is nice. Knowing whether the refinance is worth the cost is better.
But a lower rate doesn't automatically mean refinancing is the right decision. Closing costs, your remaining loan term, and how long you expect to keep the mortgage all matter.
Use the interactive refinance calculator linked above to explore potential payment changes and compare your existing mortgage with a possible new loan.
Free educational calculator. No obligation to apply. Estimates are not financing offers or guaranteed savings.
What Makes a Refinance Worth Considering?
The most useful comparison looks at your current mortgage alongside the actual terms of a potential new loan.
- Current mortgage balance and remaining term
- Potential new interest rate and monthly payment
- Refinancing closing costs and discount points
- Time needed to recover the refinance costs
- Total borrowing costs and your financial goals
Analyze Your Potential Mortgage Refinance
A useful refinance comparison starts with understanding your current mortgage. Then you can evaluate how a potential new loan might change your payment and borrowing costs.
Use the existing interactive calculator linked above to explore different refinancing scenarios. Change one assumption at a time to see how the comparison responds.
Start With Your Current Mortgage
Review the outstanding principal balance, current interest rate, monthly principal and interest payment, and remaining loan term.
Your mortgage statement can help you identify important information. Your remaining term may also require reviewing your original loan documents or amortization schedule.
Explore Potential New Loan Terms
Enter the proposed interest rate, loan amount, and repayment period where those inputs are available.
Changing from a shorter remaining term to a new 30-year mortgage may reduce the payment, even without a substantial rate reduction.
Consider the Costs of Refinancing
A refinance may involve lender fees, discount points, appraisal costs when required, title and settlement charges, and other expenses.
Some costs may be paid at closing or included in the new loan balance, subject to program requirements.
If the calculator doesn't accept every expense, account for those costs separately in your comparison.
Think About How Long You'll Keep the Mortgage
If you're considering selling the property or refinancing again in the near future, the time available to recover refinancing costs becomes particularly important.
Compare the potential savings during your expected ownership or loan-holding period, not just over an assumed 30-year term.
A Lower Payment Doesn't Always Mean a Less Expensive Mortgage
Suppose you have 18 years remaining on your current loan and refinance into a new 30-year mortgage.
Your monthly payment may decrease partly because you're spreading repayment over 12 additional years. Depending on the interest rate and loan costs, the total interest you pay could increase.
That's why the monthly payment, closing costs, remaining loan balance, and repayment period should all be part of the decision.
A Few Tips for a More Useful Comparison
- Use your current mortgage balance rather than the original amount borrowed.
- Distinguish principal and interest from your total payment, which may include taxes and insurance.
- Consider whether the proposed loan includes closing costs or additional cash-out proceeds.
- Compare the same expected time period when evaluating interest costs and savings.
- Review whether refinancing changes mortgage insurance requirements or other financing expenses.
- Remember that the actual interest rate, APR, and available terms depend on the borrower, property, and lender.
Calculator figures are estimates for educational purposes only. The calculator may not account for every fee, tax, escrow adjustment, loan feature, or repayment consideration. Actual refinance terms, interest rates, APRs, costs, and eligibility vary by borrower, property, lender, and loan program. This information is not a loan offer, approval, or commitment to lend.
What Do Your Refinance Calculator Results Really Mean?
After entering your mortgage information, the refinance calculator can help illustrate how a potential new loan compares with your existing one.
Understanding the numbers behind that comparison is important before deciding whether refinancing makes sense.
Estimated Monthly Payment Change
One of the first things homeowners notice is the difference between their current mortgage payment and the estimated payment on a new loan.
A payment reduction may result from a lower interest rate, a longer repayment term, or a combination of factors.
Compare principal and interest separately from taxes, insurance, and other expenses to avoid misleading results.
Potential Interest Savings
Refinancing at a lower interest rate may reduce the amount of interest charged on the outstanding mortgage balance.
But the total interest paid also depends on the loan amount and repayment period.
For a meaningful comparison, review both mortgages over the same expected timeframe and consider their remaining balances.
Refinancing Costs
A new mortgage may involve lender charges, discount points, title and settlement fees, and other expenses.
Some costs may be paid at closing, while eligible costs may be included in the new loan balance.
Financing these expenses can reduce upfront cash requirements, but may increase the mortgage balance and total borrowing costs.
Break-Even Period
The break-even period is an estimate of how long it may take for refinancing benefits to offset applicable refinancing costs.
A simple calculation divides relevant upfront costs by the monthly savings, when those savings are positive and the comparison is appropriate.
This simplified method doesn't capture every consideration, particularly when the loan term, principal balance, or repayment schedule changes.
Example: How to Think About Refinancing Costs and Savings
Suppose a hypothetical refinance would reduce your monthly principal and interest payment by $150, with $3,000 in relevant upfront costs.
$3,000 in upfront costs divided by $150 in monthly payment reduction equals 20 months.
Under those simplified assumptions, it would take 20 monthly payment reductions to equal the initial costs.
However, that does not necessarily mean the refinance has produced $3,000 in true economic savings after 20 months.
This is a simplified hypothetical payment comparison, not a complete refinance cost-benefit analysis. A lower payment caused by extending the loan term may include less principal repayment. Changes in loan balances, mortgage insurance, financed fees, and remaining equity can affect the actual economic outcome. Taxes, insurance, and escrow changes should be reviewed separately.
Don't Forget to Compare Your Remaining Mortgage Balance
Here's something that can be overlooked when comparing two mortgage payments.
A new loan may offer a lower required payment, but if you restart the repayment schedule over a longer term, you may pay down principal more slowly.
That means the new loan could have a higher remaining balance at a future date than your current mortgage would have had.
If you're evaluating a refinance over five years, for example, compare not only the payments during those five years but also the remaining mortgage balance at the end of that period.
What Should You Compare Before Refinancing?
I encourage homeowners to look at the broader financial picture rather than focusing on only one number.
- Monthly payment: How much would your required payment change?
- Interest rate and APR: What are the proposed borrowing rate and applicable financing costs?
- Closing costs: What will the new mortgage cost to obtain?
- Loan term: Will you shorten or extend your remaining repayment period?
- Remaining balance: What would you owe on each loan at a future comparison date?
- Mortgage insurance: Will the new financing add, reduce, or eliminate applicable mortgage insurance?
- Future plans: How long do you expect to own the property or keep the mortgage?
The Best Refinance Decision Depends on Your Goal
Some homeowners want to lower their required monthly payment. Others are focused on paying off their mortgage sooner, reducing interest costs, or changing their loan structure.
Those goals may lead to different financing decisions, even when the same interest rates are available.
The key is understanding what you gain, what it costs, and how the new mortgage supports your financial plans.
All examples are hypothetical and for educational purposes only. Simple payment break-even calculations do not necessarily represent economic savings or the full cost of refinancing. Actual interest rates, APRs, payments, closing expenses, loan balances, mortgage insurance, financing terms, and eligibility depend on borrower qualifications, property characteristics, lender requirements, and the applicable loan program. No loan approval, guaranteed savings, or commitment to lend is implied.
How Long Does It Take to Break Even on a Mortgage Refinance?
Refinancing can reduce your monthly payment, but obtaining a new mortgage usually involves costs. One way to begin evaluating the decision is to calculate how long it would take for the monthly payment reduction to equal those costs.
That's commonly called the refinance break-even period. It's a helpful starting point, but the simple calculation doesn't tell the entire story.
Example: Calculating a Simple Refinance Break-Even Period
Let's assume you're considering refinancing and the new mortgage would reduce your monthly principal and interest payment by $200. The relevant upfront refinance costs are $4,000.
In this simplified illustration, the cumulative payment reductions would equal the stated upfront costs after 20 months.
Illustrative Payment Break-Even Timeline
Hypothetical payment-break-even illustration only. This is not a current mortgage quote or a complete measure of financial savings. It assumes the monthly payment reduction remains constant and excludes changes in principal repayment, remaining balances, financed fees, taxes, insurance, and other economic considerations.
Why a 20-Month Payment Break-Even Isn't Necessarily a True Break-Even
Here's something I believe every homeowner should understand before refinancing.
A lower monthly payment isn't always the result of a lower interest rate. It may come from spreading the mortgage balance across a longer repayment period.
If your current mortgage has 17 years remaining and you refinance into a new 30-year loan, the required payment may decrease even if the long-term financial benefit is limited.
You may also repay principal more slowly and owe more on your mortgage several years from now than you would have under your existing loan.
A more complete analysis compares cumulative payments, relevant costs, and remaining loan balances at the same future point in time.
Four Questions That Matter More Than a Simple Break-Even
Before deciding whether refinancing is worthwhile, consider these questions alongside the calculator results.
If you expect to sell or refinance again soon, you may have limited time to recover the costs of refinancing.
Compare the projected remaining mortgage balance under each option after the same number of months or years.
Costs paid upfront, added to the mortgage, or offset through lender credits have different implications. Lender credits may involve a higher rate.
Reducing required payments may be valuable for monthly cash flow, even when it doesn't minimize long-term interest expense.
Which Refinance Costs Should You Consider?
Refinancing expenses can vary by lender, property, and loan program. Some common items to review include:
- Lender origination charges: Fees associated with obtaining the new loan.
- Discount points: Optional or required upfront charges that may affect the interest rate.
- Appraisal charges: When a new appraisal is required.
- Title and settlement fees: Costs associated with title services, recording, and closing.
- Prepaid items and escrow funding: Cash needs that should be distinguished from true transaction expenses. Existing escrow balances may be refunded separately.
- Financed costs: Eligible fees added to the new loan, which increase the amount borrowed.
Not every dollar needed at closing is necessarily an economic refinancing cost. For example, establishing a new escrow account and receiving a refund from your old escrow account should be considered together.
Sometimes Refinancing Makes Sense. Sometimes Keeping Your Loan Is Better.
If you refinanced several years ago into a particularly low fixed rate, there may be little reason to replace that mortgage simply because a new loan is available.
On the other hand, a refinance may still be worth evaluating if it helps accomplish a meaningful financial goal, such as changing the repayment structure, reducing certain costs, or improving monthly cash flow.
The important part is evaluating both the benefits and the tradeoffs before making a decision.
Information is for educational purposes only. All examples are hypothetical and do not represent current advertised mortgage rates or financing offers. Simple payment break-even calculations do not measure all economic costs or benefits. Actual refinance terms, APRs, expenses, remaining balances, and eligibility depend on borrower qualifications, property characteristics, lender requirements, and loan program. No guaranteed savings, approval, or commitment to lend is implied.
When Does Refinancing Your Mortgage Make Sense?
A mortgage refinance can serve several purposes, but it isn't automatically worthwhile just because a new loan is available.
Before replacing your existing mortgage, consider what you're trying to accomplish and whether the potential benefits justify the costs and tradeoffs.
Reduce Your Interest Rate
If you can refinance into a meaningfully lower interest rate, you may be able to reduce your interest expense.
However, the size of the rate reduction isn't the only consideration.
Closing costs, discount points, the new loan balance, and how long you keep the mortgage determine whether the refinance is financially worthwhile.
Lower Your Required Monthly Payment
Some homeowners refinance because they want to reduce their monthly financial obligations.
A lower payment may improve cash flow or make the household budget easier to manage.
But if the payment reduction comes from extending the repayment term, you could pay more interest over the life of the new mortgage.
Change Your Mortgage Term
Refinancing may allow you to shorten or extend the repayment period.
A shorter term may help you repay the loan sooner and reduce total interest, depending on the rate and costs.
A longer term may reduce your required monthly payment, but can increase your total borrowing expense over time.
Review Your Mortgage Insurance
If your existing mortgage includes mortgage insurance, refinancing may provide an opportunity to change that expense.
For example, an eligible homeowner refinancing into a conventional loan may be able to avoid private mortgage insurance based on the new loan-to-value ratio and lender requirements.
But refinancing isn't always required to remove mortgage insurance. Your existing loan's cancellation rules should be reviewed first.
Access Your Home Equity
A cash-out refinance replaces your current mortgage with a new loan that may provide cash from available equity.
Homeowners sometimes consider this option for renovations, debt consolidation, or other financial needs.
But the new mortgage replaces the interest rate and terms on your existing loan, which can be a significant consideration.
Accessing equity also increases debt secured by your home.
Change Your Loan Structure
Refinancing may allow you to move from an adjustable-rate mortgage to a fixed-rate loan, or otherwise change your financing structure.
Some homeowners prefer the predictability of a fixed principal and interest payment.
The costs and benefits depend on your existing loan, the new terms, and your plans for the property.
Before Refinancing to Remove PMI, Check Your Existing Loan
Here's something worth knowing if you currently have private mortgage insurance on a conventional mortgage.
Depending on the loan and eligibility, you may be entitled to request PMI cancellation without replacing your mortgage.
For many covered loans, federal law provides for borrower-requested cancellation at certain loan-to-value milestones and automatic termination under applicable conditions.
If you're considering refinancing primarily to eliminate PMI, contact your current servicer to review cancellation eligibility first.
FHA mortgage insurance has different rules, so this approach does not apply identically to every loan program.
When Might Keeping Your Current Mortgage Be the Better Decision?
Refinancing isn't always the right move. Sometimes your existing mortgage is already well suited to your financial goals.
- You have a particularly low fixed interest rate. Replacing it with a higher-rate mortgage may substantially increase borrowing costs.
- You're close to paying off your loan. Restarting a longer repayment period may work against your payoff goals.
- You expect to sell soon. There may not be enough time to recover the costs of refinancing.
- Your current mortgage has favorable terms. A new loan might not offer enough improvement to justify the expense.
- Your main goal can be accomplished another way. Options such as PMI cancellation, additional principal payments, or separate home equity financing may be worth exploring.
Have a Low Mortgage Rate but Need Access to Equity?
If you already have a low fixed mortgage rate, replacing the entire loan just to access equity may not be the most attractive option.
Depending on your qualifications and available equity, a home equity loan or HELOC might let you borrow additional funds while keeping the existing first mortgage in place.
However, second mortgages bring their own interest rates, repayment obligations, fees, and risks. A variable-rate HELOC may also have payment uncertainty.
The useful comparison is between the total costs and obligations of both approaches.
The Right Refinance Is the One That Helps Accomplish Your Goal
A refinance shouldn't be judged by the interest rate alone.
If it improves your financial position, supports your cash flow needs, or helps achieve another meaningful objective at an acceptable cost, it may be worth considering.
And if keeping your existing mortgage is the better choice, that's a useful conclusion too.
My goal is to help homeowners understand the tradeoffs before making that decision.
Information is provided for general educational purposes only. Refinancing, mortgage insurance cancellation, HELOCs, home equity loans, and cash-out financing have different eligibility requirements, costs, and risks. Using home equity as collateral may put your property at risk if repayment obligations are not met. Actual interest rates, APRs, fees, payments, and financing terms depend on borrower qualifications, property characteristics, underwriting, and loan-program requirements. This content is not a loan approval, financing offer, or commitment to lend.
What Does Refinancing Your Mortgage Really Cost?
When evaluating a mortgage refinance, it's important to look beyond the new interest rate or monthly payment.
The costs of obtaining the new loan, how those expenses are paid, and the repayment terms can all affect whether refinancing is worthwhile.
Lender & Origination Charges
These may include fees associated with processing, underwriting, and originating the new mortgage.
Charges differ by lender and loan program. Some fees may be included in an overall origination charge rather than separately itemized.
Mortgage Discount Points
Discount points are upfront charges that may allow you to obtain a lower mortgage interest rate.
One point equals 1% of the loan amount. However, there is no universal amount by which one point reduces the rate.
Paying points may make sense in some situations, but the benefit depends on the loan's terms and how long you keep it.
Appraisal & Property-Related Fees
Some refinances require an appraisal to establish the property's value for underwriting.
Other transactions may qualify for an appraisal alternative or waiver, depending on the loan program and underwriting findings.
Credit reports, flood determinations, and other required services may also carry charges.
Title, Settlement & Recording
Refinancing may involve title services, settlement or closing fees, recording charges, and lender's title insurance.
These costs can vary by transaction and service provider.
Lender Credits
Lender credits may offset some or all eligible closing costs.
In exchange, the borrower generally accepts a higher interest rate than the same loan would have without those credits.
This can reduce upfront cash needs while increasing ongoing borrowing costs.
Closing Costs Added to the Loan
Depending on the loan program and available equity, some eligible costs may be financed into the new mortgage balance.
This may reduce the cash you bring to closing, but increases the amount borrowed.
Interest may then be charged on those additional financed amounts.
What Does a "No-Closing-Cost Refinance" Actually Mean?
You may see advertisements offering a refinance with little or no closing costs paid upfront.
That doesn't necessarily mean obtaining the mortgage is free.
One structure uses lender credits to offset closing costs, typically in exchange for a higher interest rate.
Another structure, when permitted, includes eligible closing expenses in the new loan balance.
In either case, the borrower should evaluate the full financing terms, not just the amount due at closing.
Example: Paying Refinance Costs Upfront vs. Financing Them
Consider two hypothetical ways to handle $5,000 in eligible refinancing expenses on an existing $300,000 mortgage balance.
Option A: Pay Costs Upfront
Option B: Finance Eligible Costs
Hypothetical principal-balance illustration only. Assumes all $5,000 in expenses are eligible to be financed, no other payoff adjustments, and sufficient equity and loan eligibility. Actual loan amounts and cash-to-close requirements may differ.
What Happens to Your Existing Escrow Account When You Refinance?
If your current mortgage includes an escrow account, part of your monthly payment is generally collected for future property taxes and homeowners insurance.
A new mortgage may require an initial deposit to establish a new escrow account.
Meanwhile, your existing escrow account may still have funds remaining after your old mortgage is paid off.
Under applicable servicing rules, remaining escrow funds generally must be returned after payoff, with certain permitted arrangements allowing funds to be credited directly to a new escrow account.
Here's the important distinction: Setting up a new escrow account is not necessarily the same as paying an additional lender fee.
You may temporarily need more cash at closing while waiting for an old escrow refund. That timing should be considered separately from the actual economic costs of refinancing.
Before Choosing a Refinance, Compare These Details
A useful refinance analysis includes more than the interest rate shown in an advertisement.
- Interest rate and APR: Review the borrowing rate and disclosed annual percentage rate.
- Discount points: Determine whether you're paying extra upfront for a lower rate.
- Lender credits: Understand any rate tradeoff associated with reducing upfront costs.
- Closing costs: Separate lender charges, third-party fees, prepaids, and escrows.
- New loan balance: Check whether expenses are being financed.
- Remaining repayment term: Compare the proposed new loan with the time remaining on your existing mortgage.
- Cash needed at closing: Review the actual amount required, including any escrow funding and adjustments.
- Expected loan-holding period: Consider how long you plan to keep the loan before selling or refinancing again.
The Best Refinance Isn't Necessarily the One With the Lowest Closing Costs
A loan with higher upfront costs may offer a lower rate, while a loan with fewer upfront expenses may cost more over time. Which structure makes sense depends on your financial goals, available cash, and how long you expect to keep the mortgage. Understanding those tradeoffs is more useful than focusing on a single advertised number.
Information is for educational purposes only. Examples are hypothetical and do not represent current loan offers. Actual rates, APRs, lender credits, discount points, financed fees, escrow requirements, closing costs, and eligibility depend on borrower qualifications, property characteristics, lender terms, and applicable loan programs. No guaranteed savings, approval, or commitment to lend is implied.
Utah Mortgage Refinance: Frequently Asked Questions
Deciding whether to refinance involves more than comparing interest rates. Here are answers to common questions homeowners ask about costs, savings, mortgage insurance, and refinancing options.
How much lower should my interest rate be before I refinance?
There isn't one percentage-point reduction that makes refinancing worthwhile for everyone.
A smaller rate reduction on a large loan balance may provide meaningful savings, while a larger reduction on a smaller balance may not justify substantial closing costs.
The remaining loan term, refinancing expenses, and how long you expect to keep the mortgage all matter.
How do I calculate the break-even point on a refinance?
A simple payment break-even calculation divides relevant upfront refinancing costs by the monthly payment reduction.
For example, $4,000 in costs divided by $200 in monthly payment savings equals 20 months.
However, that's only a simplified measure. A complete comparison should consider changes in principal repayment, mortgage balances, financing costs, and loan terms over the same timeframe.
Is a no-closing-cost refinance actually free?
Not necessarily.
In some transactions, a lender credit offsets eligible closing costs, typically in exchange for a higher interest rate.
In other cases, eligible costs may be included in the new mortgage balance, subject to program requirements.
Either structure may reduce the cash needed at closing, but it doesn't necessarily eliminate the economic cost of obtaining the loan.
Should I refinance if I already have a very low mortgage rate?
Refinancing into a substantially higher interest rate may increase borrowing costs, especially if you already have a favorable fixed-rate loan.
However, homeowners sometimes refinance for reasons other than lowering the rate, such as changing repayment terms or accessing equity.
If accessing equity is your main objective, comparing a separate home equity loan or HELOC may be worthwhile.
Can refinancing eliminate mortgage insurance?
Potentially. If your property has sufficient equity and you meet the applicable eligibility requirements, refinancing into a conventional loan may eliminate the need for private mortgage insurance.
But if you have conventional PMI today, check with your existing servicer before refinancing.
Depending on your loan and circumstances, you may be eligible to request PMI cancellation without obtaining a new mortgage.
FHA mortgage insurance follows different rules and shouldn't be confused with conventional PMI.
Does refinancing restart my mortgage at 30 years?
Not necessarily.
The repayment period depends on the loan term selected and the available programs.
For example, you may refinance into a new 15-year, 20-year, or 30-year loan if eligible.
Extending the repayment term may lower the required monthly payment, but can increase total interest paid over time.
What happens to my escrow account when I refinance?
If your existing mortgage has an escrow account, your current servicer generally must refund remaining eligible funds after the loan is paid off.
Under federal servicing rules, the refund is generally due within 20 business days, excluding legal public holidays, Saturdays, and Sundays.
Certain permitted arrangements allow funds to be credited to a new escrow account with the borrower's agreement.
Your new mortgage may require a separate initial escrow deposit, so you may need to account for the timing of both transactions.
How much equity do I need to refinance my home?
The required equity depends on the loan program, refinance type, property, and borrower qualifications.
Some eligible refinance programs allow higher loan-to-value ratios than others.
A cash-out refinance generally has different equity requirements from a rate-and-term refinance.
The appropriate option depends on what you're trying to accomplish.
What's the difference between a cash-out refinance and a HELOC?
A cash-out refinance replaces your existing first mortgage with a new loan and may provide additional cash from available equity.
A HELOC is generally a separate revolving credit line secured by your home, often in a second-lien position.
A HELOC may allow you to retain your existing first mortgage, but introduces a separate payment obligation.
Rates, payment structures, fees, and risks differ. Many HELOCs have variable rates, although certain products offer fixed-rate features.
Will refinancing hurt my credit score?
Applying for a refinance typically involves a credit inquiry, which may affect your credit score temporarily.
Opening a new mortgage and paying off the previous loan can also change information reflected in your credit report.
The effect varies by credit profile and scoring model. Credit scoring is only one part of the refinancing decision.
Can I refinance if I'm self-employed or have nontraditional income?
Potentially, yes.
Self-employed borrowers may qualify using eligible documented income, although underwriting calculations can differ from those used for salaried borrowers.
Depending on eligibility, specialized loan programs may also be available.
The appropriate documentation and financing options depend on the specific loan program.
How can I tell whether refinancing is actually worth it?
Start by identifying your main goal.
If you want a lower required payment, compare the amount saved each month with the costs and repayment changes.
If your priority is reducing total interest, compare borrowing costs and remaining loan balances over the same timeframe.
If you want access to home equity, consider the costs and risks of replacing the first mortgage versus keeping it and using separate equity financing.
A personalized mortgage comparison can help determine which option best supports your objectives.
There's More to Refinancing Than Getting a Different Rate
Sometimes a refinance can produce meaningful financial benefits. Other times, keeping your existing mortgage is the better decision.
Before replacing your current loan, it's worth comparing the actual financing costs, monthly payments, remaining loan balances, and your long-term goals.
That comparison can help you avoid making a decision based solely on an advertised rate or an estimated monthly payment reduction.
Information is provided for educational purposes only. Refinance eligibility, mortgage insurance cancellation, credit requirements, financing costs, loan terms, and escrow arrangements vary by borrower, property, lender, and loan program. Accessing home equity increases obligations secured by your property and may create risk of foreclosure if repayment obligations are not met. All refinancing is subject to applicable qualification and underwriting requirements. This information is not a mortgage preapproval, loan offer, guaranteed savings projection, or commitment to lend.
Before You Refinance, Let's Make Sure the Numbers Work.
A lower interest rate or monthly payment may sound appealing. But the real question is whether replacing your existing mortgage actually helps you accomplish your financial goals.
If you're considering refinancing your Utah home, I'd be happy to review your current mortgage and compare potential financing options with you.
A Personal Mortgage Review With Corey Moser
I've spent nearly 30 years in the mortgage industry, helping homeowners understand their financing options.
When reviewing a potential refinance, I want you to understand how the proposed loan compares with your existing mortgage.
That includes the new monthly payment, financing expenses, repayment timeline, and whether the proposed changes make sense for your circumstances.
Sometimes refinancing can be beneficial. Sometimes keeping your existing mortgage is the better choice.
Either way, my goal is to help you make an informed decision.
No obligation to apply. Just an opportunity to understand your available options.
Corey Moser | NMLS #274942 Nationwide Loans, Inc. | NMLS #1799965 Equal Housing Opportunity
Refinance calculations and examples are for educational purposes only. Actual interest rates, annual percentage rates, monthly payments, closing costs, available loan terms, and financing eligibility vary by borrower, property, lender, and loan program. Refinancing may increase total interest expense, extend the repayment term, or increase the outstanding mortgage balance. No guaranteed savings, mortgage approval, financing offer, or commitment to lend is implied.