Monthly payments shown constitute an estimate and are provided for informational purposes. This does not constitute an offer for a mortgage loan. Payments shown do not include taxes and insurance.

Refinance Calculator: How Does Refinancing Work?

Refinancing involves substituting your existing home loan with a fresh mortgage that features revised terms. Typically, refinancing necessitates a specific level of equity in your home, typically around 20% or more, although the exact requirement may differ based on the loan program.

Should I refinance my home?

After purchasing a home and possibly refinancing it multiple times, you might be contemplating whether you can refinance once more. From a technical standpoint, there is no set limit on the number of times you can refinance your home. However, the more important question is whether refinancing is advantageous for you. Learn More