Is it time to refinance?

Is it time to refinance?

Take a minute and we'll help you figure out if now is the right time to refinance, what your options are, and how to take the next step.

How much do you know about refinancing?

We want our recommendations to meet you where you are

Is this your first time refinancing?

What year did you get your current mortgage?

What’s the balance on your current mortgage?

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What’s the interest rate of your current mortgage?

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Has your credit score gone up since {year}?

Is there any wiggle room in your budget?

We want to suggest terms you are comfortable with

When will your fixed period end?

Let’s get a little more info about your adjustable rate mortgage

How long are you planning on staying in your home?

Certain loans are better for people who plan to move in the near future

How much cash do you think you’ll need?

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Could you be ready to refinance in the next month?

So is it the right time?

Enter your email to get your refinance results and personalized resources.

Seems like it’s time to refinance

Seems like it’s time to refinance

Looks like you could save money by getting a rate-and-term refinance. Next, answer a few more questions about your finances to calculate your new lower monthly payment.

Seems like it’s time to refinance

Seems like it’s time to refinance

In order to pay off your loan faster, consider a new 15- or 20-year fixed mortgage. Next, answer a few more questions about your finances to calculate your monthly payment options.

Seems like it’s time to refinance

Seems like it’s time to refinance

Let’s lock in a new fixed rate before your adjustable rate goes up. Next, answer a few more questions about your finances to calculate your new monthly payment options.

Seems like it’s time to refinance

Seems like it’s time to refinance

Because your budget has some wiggle room, consider a 15- or 20-year fixed mortgage. Next, answer a few more questions about your finances to calculate your new monthly payment options.

Seems like it’s time to refinance

Seems like it’s time to refinance

Since you plan on staying in your home for less than 7 years, consider another adjustable-rate mortgage to save money. Next, answer a few more questions about your finances to calculate your new monthly payment.

Seems like it’s time to refinance

Seems like it’s time to refinance

A cash-out refinance will allow you to borrow money from your home’s equity, and pay it back as part of a new mortgage. Next, answer a few more questions about your finances to calculate your rate options.

Refinancing doesn’t make sense right now

Refinancing doesn’t make sense right now

Looks like you would need to increase your monthly payment in order to pay off your loan faster. In the meantime, check today’s rates to get an idea of what your monthly payment options would be.

Refinancing doesn’t make sense right now

Refinancing doesn’t make sense right now

Looks like switching to a fixed rate would require a higher monthly payment than what you have now. In the meantime, check today’s rates to get an idea of what your monthly payment options would be.

When does refinancing save you money?

Why should I do a cash out refinance?

When should I refinance for a better rate or term?

When should I refinance for a better rate or term?

Don’t let the jargon get you down

You’ll see words like these when refinancing

  • Rate-and-term refinance

    Swapping your existing loan for a loan that has a different rate and/or term

  • Loan term

    The period of time you’ll pay back your loan – usually 15, 20, or 30 years

  • Monthly payments

    The amount you are required to pay each month until your loan is paid off. Pro tip: when comparing payments from different companies, be sure to note whether the amount includes taxes and insurance—those are fixed fees and will be the same no matter where you shop.

  • Interest

    The cost you’ll pay each year to borrow money, expressed as a percentage

  • Escrows (impounds)

    Paying your taxes and insurance premium to your lender as part of your mortgage payment

  • Fixed rate loan

    A loan with the same interest rate over the entire loan term

  • Amortization

    How much you pay towards your loan balance compared to how much you pay in interest over time

  • Loan Estimate

    A 3-page form standardized across all lenders that contains a detailed overview of your rate, monthly payments and fees

  • Cash-out refinance

    Refinancing your home loan for more than the amount owed, so you can get additional cash or pay off your existing debt

  • Debt consolidation

    Combining several debts—credit cards, medical bills, student loans, etc.—into one bill, usually resulting in a lower monthly payment

  • Equity

    The dollar amount of ownership you have in your home calculated by a home’s market value minus any loans associated it

Elizabeth from Better

Hi, I'm Elizabeth

I'm a Loan Consultant at Better. My team is here to help make getting a mortgage easy. We're available on your schedule over text, email, or phone. Let's talk. NMLS ID 1658188

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