Refinance
Lower your rate, change your term, or tap the equity you've built, with an honest look at whether the numbers actually work.
Refinancing replaces your current mortgage with a new one. People do it for two reasons: to improve the loan itself, meaning a lower rate, a shorter term, or a steadier payment, or to pull cash out of the equity they've built.
Either way, the real question is whether the benefit outweighs the closing costs. Gene helps you find the break-even point before you commit.
Rate-and-term refinance
A rate-and-term refinance changes your rate, your term, or both, without taking any cash out. It's the classic move when rates drop: lower the payment, trade an adjustable rate for a fixed one, or shorten the term to pay off faster.
Cash-out refinance
A cash-out refinance replaces your mortgage with a larger one and hands you the difference in cash. People put it toward renovations, consolidate higher-interest debt, or cover a major expense, all wrapped into one monthly payment.
If you'd rather not touch your first mortgage, a HELOC or home equity loan may be the better move. Gene will compare the options with you.
A strong fit if…
- Rates have dropped since you closed
- You want to shorten your term or move to a fixed rate
- You want to tap equity for a renovation or to consolidate debt
- You've built enough equity to make the math work
Worth weighing
- Refinancing has closing costs, and the savings take time to earn them back
- A cash-out refinance raises what you owe on your home
- Restarting a 30-year term can raise total interest even at a lower rate
Run your numbers
Compare other options
Is Refinance the right fit for you?
Gene will look at your goals and compare your options with no obligation. Get pre-qualified or call to talk it through.