Refinance A Home »

: Determine if you want a lower payment or a shorter term.

: Determine the current market value of your property. refinance a home

Calculate the break-even point by dividing the total closing costs by your monthly savings. For example, if closing costs are $3,000 and you save $100 a month, you must stay in the home for 30 months to recover the costs. : Determine if you want a lower payment or a shorter term

This is the most common type of refinancing. It changes the interest rate, the loan term, or both, without advancing new money. Cash-Out Refinance if closing costs are $3