Mortgage Refinancing Basics
Compare the new loan with keeping the existing loan after including costs, term reset, mortgage insurance, taxes, break-even and future plans.
Guide collection
Refinancing and Home Equity
Evaluate refinancing, HELOCs, home-equity loans, recasting and other ways to change or use a mortgage.
Rate-and-Term Refinancing
Evaluate changes to rate, term and payment without taking substantial cash out, while accounting for closing costs and amortization reset.
Cash-Out Refinancing
Understand increased secured debt, closing costs, equity reduction and the risk of converting other obligations into debt backed by the home.
Refinance Break-Even Analysis
Compare true transaction costs with realistic monthly savings and the expected time in the home rather than relying on rate alone.
Mortgage Recasting
Learn how a large principal payment may support a lower required payment without replacing the loan, subject to servicer and program rules.
Home Equity Loans
Review a fixed lump-sum second mortgage, payment, lien priority, closing costs and the consequences of default.
Home Equity Lines of Credit
Understand draw and repayment periods, variable rates, access freezes, minimum payments and home-secured risk.
Second Mortgages and Subordinate Liens
See how lien position, combined LTV, payments and consent requirements affect refinancing or selling.