Refinance your mortgage, if the numbers make sense

Usually when the new loan saves you more than it costs before you expect to sell or refinance again. It can also make sense to move from an adjustable to a fixed rate, to remove mortgage insurance, or to change your term. We'll run the comparison with you.

It depends on your loan type and the new loan program. Some refinances are allowed soon after closing. Others, including most cash-out refinances, have waiting periods. Tell us when you closed and we'll check what applies.

A refinance has closing costs, such as appraisal, title and lender fees, much like your original mortgage. Your Loan Estimate lists them all. Some "no-closing-cost" options cover these costs through a higher rate or by adding them to the loan, so we'll show you both ways.

It's how long it takes for what you save each month to add up to your closing costs. If you'll keep the loan longer than that, the refinance may pay off. Our break-even calculator lets you test your own numbers.

Applying includes a credit check, which can cause a small, usually temporary dip. Shopping several mortgage offers within a short window is generally treated as a single inquiry for scoring purposes.

Sometimes. Homeowners with FHA loans often look at moving to a conventional loan once they've built enough equity. On a conventional loan, you may be able to cancel PMI without refinancing at all. We'll tell you which route makes sense.

No. You can refinance with any company that's licensed where your home is.