You’ll stay past break-even
Closing costs are paid up front and earned back a month at a time. If you’ll be in the home longer than that, the savings are real.
Should I refinance?
Find out if a new rate is worth it yet.
Three numbers from your mortgage statement and a rate to compare. You'll see what you'd save each month and how long it takes to earn back the closing costs. I'll give you a straight answer either way.
Your loan today
from your statement
$
%
yrs
The new loan
ask me for today's real rate
%
New term
~2.5% of the balance is typical
$
My honest read
Worth a look now
Monthly savings$0
Break-even0 mo
Lifetime savings$0
Get a note when it's worth it
Rates move. Leave your email and I'll reach out myself when your numbers make sense. No newsletter, no spam.
Got it. I'll keep an eye on rates against your numbers and reach out when it's worth a conversation. Heath
~ All figures are estimates for illustration only, compare principal and interest, and assume fixed-rate loans. They do not include taxes, insurance, mortgage insurance or escrow changes. Your actual rate, closing costs and savings depend on your credit, home value, loan program and market conditions at the time you apply. Not a commitment to lend. All loans subject to credit approval. Heath Martin, Mortgage Loan Originator, NMLS #2679799, Thrive Lending, Company NMLS #2191014. Equal Housing Opportunity.
When a refinance usually makes sense
You want it paid off sooner
Moving to a 15 or 20 year loan can raise the payment a little and cut the total interest by tens of thousands.
You want to drop mortgage insurance
If your home has gained value, a new loan at 20% equity or more can take PMI or FHA mortgage insurance off the payment.
You need to tap equity
A cash-out refinance can pay for a renovation or clear higher-interest debt. It’s worth running the numbers against other options first.
Want a real quote on your loan?
The calculator gives you a ballpark. I’ll pull an actual rate and closing cost estimate for your loan and tell you plainly whether it’s worth doing now or worth waiting.