Your Journey
Refinance Optimizer
Your current mortgage might not be the best deal anymore. Whether you want a better rate, access to your equity, or simpler terms — refinancing could be the move.
Types of Refinance
Not all refinances are the same. The right option depends on what you're trying to accomplish.
Rate & Term Refinance
The most common type. You replace your existing mortgage with a new one at a different rate, a different term, or both. The goal is typically to reduce your monthly obligation or shorten the time to payoff. Your loan balance stays roughly the same — you're just improving the terms.
Cash-Out Refinance
Access the equity you've built in your home by refinancing for more than you owe and receiving the difference in cash. Homeowners commonly use cash-out refinancing for home improvements, debt consolidation, education expenses, or investment opportunities. You're leveraging an asset you already own.
Streamline Refinance
Available for FHA, VA, and USDA loans. Streamline refinances are designed to be fast and simple — often with reduced documentation, no appraisal, and lower closing costs. If you have a government-backed loan and want to take advantage of favorable market conditions, streamline programs make it easy.
When Does Refinancing Make Sense?
Refinancing isn't always the right move. Here's how to think about it.
✓ It May Make Sense If…
- Current market rates are meaningfully lower than your existing rate
- You plan to stay in your home long enough to recoup closing costs
- You need to access equity for a major expense or investment
- You want to switch from an adjustable rate to a fixed rate
- You want to remove PMI by refinancing with 20%+ equity
⚠ It May Not Make Sense If…
- You're planning to sell within the next year or two
- The rate improvement is marginal and won't offset closing costs
- You've already paid down most of the interest on your current loan
- Your credit situation has changed significantly since your original loan
The Break-Even Calculation
Every refinance has closing costs. The key question is: how long until your monthly savings exceed those costs? We calculate your exact break-even point so you can make a fully informed decision. If the math doesn't work, we'll tell you.
Want to Know Your Options?
Five minutes. No application. No credit pull. We'll look at your current situation and tell you if refinancing makes sense.
Ron Heaslet • NMLS #2445039 • Serving NC, SC, GA, FL, TN & VA