Guides

Refinance questions, answered

Each guide answers the question in the first two sentences, then shows the math using this week's average rates.

Is it worth refinancing for 1%?

A 1-point rate drop usually pays back closing costs within a few years. See the math on a $300,000 loan and when it doesn't work.

A 0.5% rate drop can pay off on larger loans with low closing costs. See break-even math for $200k–$500k and when to skip it.

Waiting periods for conventional, FHA and VA refinances, based on generally published program rules — plus why break-even still matters.

Consolidating credit cards into your mortgage lowers the payment but can raise total interest. Here's how to tell which happens to you.

Compare the three ways to borrow against your home: how each works, rates, payments, costs — and why your current rate decides it.

Refinance into a conventional loan at 80% LTV or less to drop PMI or FHA MIP. When it pays, and when cancelling PMI is the better route.

When today's rates are above yours, a refinance rarely saves money — but debt payoff, PMI removal, ARM risk or a divorce can change the math.

Refinance closing costs commonly run 2%–5% of the loan. See dollar ranges for common loan sizes, what's included and how to lower them.

Refinancing usually causes a small, temporary dip from a hard inquiry and a new account. How rate shopping works and how to limit the impact.

How a divorce buyout refinance works: calculate equity, the buyout amount, your new loan and payment, and what lenders look at.

A no-closing-cost refinance trades up-front fees for a higher rate or bigger balance. See the true cost and when it's the better choice.

A 15-year refinance costs more each month but saves a large amount of interest. Compare payments and lifetime interest at this week's rates.