Take Advantage of Lower Rates with our Home Mortgage Refinance Calculator

Want to lower your monthly payment? Take out cash from your equity? Shorten the term of your loan? Need to decide whether now is the time to refinance? Use the home mortgage refinance calculator below to decide whether refinancing your mortgage is the right choice for you!

Home Mortgage Refinance Calculator

How can refinancing your mortgage help you?
Let's XOME-in on it.

1. Get cash to spend how you wish

A cash-out refi lets you tap into the equity your home has earned. Use cash for anything you want: make home improvements for you to enjoy while increasing the value of your home. Pay off high-interest credit cards, tuition bills, take a special vacation — whatever you want to do. Use our home mortgage refinance calculator to see how much you can save!

2. Lower your monthly payment amount

With mortgage interest rates still at historic lows, refinancing your mortgage right now can significantly reduce your monthly out-of-pocket payment. Why pay more than you have to? Use the home mortgage refinance calculator here to compare rates and terms, and see how they will affect your monthly bill.

3. Switch to the predictability of a fixed loan

If you currently have an ARM (adjustable rate mortgage) loan, protect yourself from an annual rise in mortgage payment by switching to a fixed rate. A 30-year fixed loan guarantees a stable rate and payment for the long term. We have many options to choose from — apply now and we'll customize the best options for your situation.

4. Save on interest payments with a shorter term

With today's low rates, it's easier than you think to pay off your mortgage sooner, saving you potentially thousands of dollars on interest payments over the long term. Homeowners with several years left to pay on their 30-year or even 20-year loan may benefit from this option. You can see how this works with our home mortgage refinance calculator.

5. Consolidate debt and get it under control

Are you carrying high-interest credit card debt? Consider consolidating your mortgage and all that other debt into one monthly bill at a low interest rate. This simple move could save you thousands in interest. And unlike credit card debt, mortgage interest is often tax-deductible (discuss your situation with a tax professional).

6. Get financial relief even with no home equity

Government-sponsored HARP Loans can help homeowners who have lost equity to refinance at today's low rates. The underwriting is lenient, and in most cases, no new appraisal or mortgage insurance is required.

  • Fixed and ARM
  • FHA
  • HARP

Fixed Rate Loans

If you're planning to stay in your home for many years and prefer to have the peace of mind of a rate and monthly payment that never changes, refinancing your mortgage with a fixed rate and payment product could be perfect for you. With rates still at historic lows, the 30-year mortgage remains one of the most popular loans.

ARMS (Adjustable Rate Mortgages)

Refinancing your mortgage with ARMs are great solutions to give you a particularly low interest rate for the short term. If you're planning on moving in a couple of years or just want the relief of a lower monthly payment, an ARM loan could be a great solution for you. As an example, a 5/1 ARM has a 30-year term with a FIXED rate and payment for the first 5 years. After that, the rate and payment may adjust once per year for the remainder of the term.

FHA Loans

An FHA (Federal Housing Administration) loan is a great solution for people whose credit history may not qualify them for conventional 30-year loans. It's also a good refinancing solution for those with less than 20% equity in their home. Our preselected lenders offer different FHA Loan options, such as the security of a fixed rate and payment or a 5/1 adjustable rate mortgage.

Streamline FHA

Do you already have an FHA first mortgage on your home? You can take advantage of the Streamline FHA refinance offered by our preselected lenders that can bring you a lower rate and monthly payment, even if you owe more on your current mortgage than the home's current market value. With no appraisal required in most cases, lower credit requirements, and limited documentation needed, the Streamline FHA can be the easiest way for you to reduce your monthly mortgage payment.

HARP Loans

The Federal Government's HARP program (Home Affordable Refinance Program) has been helping homeowners all across the country whose mortgage balance exceeds their home's value, enabling them to refinance into today's low interest rates. If you have little or no equity in your home, a HARP loan may help you to lower your monthly payment and/or shorten your loan term.

In many cases, no new appraisal is needed nor is mortgage insurance (if none is in place on your current mortgage), so refinancing your mortgage with a HARP loan has a fast underwriting process.

The guidelines for refinancing your mortgage with a HARP loan are pretty simple: If your current loan was originated before June 1, 2009, is owned by Fannie Mae or Freddie Mac, and you've continued to make your monthly payments, you may qualify for a HARP loan. You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites: freddiemac.com/mymortgage or knowyouroptions.com/loanlookup

You've been doing the right thing, honoring your monthly commitment. HARP Loans can do right by you, with a fast and easy refinancing solution.