Refinance

Refinance when it makes financial sense. Not just when rates drop.

A refinance is not free. Closing costs, appraisal fees, and the break-even timeline all matter. Austin helps you determine whether refinancing actually saves you money over the long term.

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Your Options

Refinance approaches for every goal

Rate-and-Term Refinance

Replace your current mortgage with a new one at a different rate, term, or both. Best when rates have dropped or your credit has improved.

  • Lower your monthly payment
  • Shorten your loan term
  • Remove PMI
  • Switch loan type
ConventionalFHA StreamlineVA IRRRL

Cash-Out Refinance

Tap into your home's equity by borrowing more than you owe. Use the proceeds for renovations, debt consolidation, or investments.

  • Access equity as cash
  • Home improvements
  • Debt consolidation
  • Typically max 80% LTV
Conventional Cash-OutHELOC Alternative

Mortgage Recasting

Make a lump-sum payment toward your principal and have the loan re-amortized over the remaining term. Lower payments without refinancing.

  • Keep your current rate
  • Lower monthly payment
  • No credit check needed
  • Low or no fee

When Does Refinancing Make Sense?

The old rule of thumb says refinance when rates drop 1% or more. But the real answer depends on your situation: how long you plan to stay in the home, your current rate, closing costs, and what you are trying to accomplish.

Austin calculates the break-even point for every refinance scenario so you can see exactly how long it takes for the savings to exceed the costs. If it does not make sense, he will tell you.

Common Refinance Scenarios

Rate dropped 0.75%+ since your purchase

Worth running the numbers, especially if you plan to stay 3+ years

Your credit score improved significantly

A higher score may qualify you for a much better rate than when you bought

You want to pay off high-interest debt

Cash-out refinance at 6-7% may beat credit card rates at 20%+

You need cash for renovations

A cash-out refinance may cost less than a personal loan or HELOC

You want to remove FHA MIP

Refinancing from FHA to conventional can eliminate lifetime mortgage insurance

Want to know if refinancing makes sense?

Austin will run the numbers and give you an honest answer.

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