Refinancing your mortgage could save you hundreds every month. We connect you with vetted lenders who compete for your loan — so you get the best rate without the bank runaround.
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Mortgage refinancing means replacing your existing home loan with a new one — ideally at a lower interest rate, better terms, or both. It's one of the most powerful financial moves a homeowner can make.
Whether rates have dropped since you bought, your credit score has improved, or you need to access your home's equity, refinancing can dramatically change your financial picture. The average homeowner who refinances saves $680 per month.
Releafly connects you with multiple vetted lenders so they compete for your loan — meaning you see real rates side by side without filling out a dozen applications.
Different situations call for different refinance strategies. Here's how to choose.
The most common type — you replace your existing mortgage with a new one at a lower interest rate or better term (e.g., switching from a 30-year to a 15-year). No cash out, just better terms.
Borrow more than you owe on your current mortgage and take the difference as cash. Ideal for home improvements, paying off high-interest debt, or major expenses. Your new loan is larger but often at a lower rate than credit cards.
Pay down your mortgage balance at closing to qualify for a lower rate or eliminate PMI. Less common but powerful if you have cash available and want to reduce your monthly payment significantly.
A simplified refinance for existing FHA loan holders. Minimal documentation, no appraisal required in many cases, and faster processing. Available only if you already have an FHA loan.
The VA Interest Rate Reduction Refinance Loan is exclusively for veterans with existing VA loans. Streamlined process, no appraisal required, and typically lower rates than conventional refinances.
Convert your adjustable-rate mortgage to a fixed-rate loan before your rate adjusts upward. Provides payment stability and protection against rising interest rates.
Most homeowners qualify — here's what lenders typically look at.
One form. Multiple competing lenders. No obligation.
Fill out our quick 2-minute form with your home value, current mortgage balance, and what you're hoping to achieve with a refinance.
We match you with up to 5 vetted mortgage lenders from our network who compete for your loan — you see real rates and terms side by side.
Compare offers, speak with lenders, and choose the refinance that saves you the most. No pressure, no obligation — just better options.
Closing costs for a refinance typically run 2–5% of the loan amount. However, many lenders offer no-closing-cost refinances where fees are rolled into the loan or offset by a slightly higher rate. We'll show you both options so you can compare the true cost over time.
Comparing rates through Releafly uses a soft credit pull — no impact on your score. When you formally apply with a lender, they'll do a hard pull, which may temporarily lower your score by a few points. Multiple mortgage inquiries within a 45-day window are typically counted as a single inquiry by the credit bureaus.
Most refinances close in 30–45 days from application. Some lenders offer streamlined programs that close faster. The timeline depends on your lender, loan type, and how quickly you provide required documentation.
The break-even point is how long it takes for your monthly savings to cover the closing costs. For example, if closing costs are $4,000 and you save $200/month, your break-even is 20 months. If you plan to stay in the home longer than that, refinancing makes financial sense.
Yes, in many cases. FHA refinances allow credit scores as low as 580. VA and USDA loans have flexible credit requirements. Even with conventional loans, some lenders work with scores in the 580–620 range. We'll match you with lenders based on your actual credit profile.
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