Refinance with confidence. Save with certainty.
Unlock lower rates, reduced payments, and your home’s equity. Our rate-matching guarantee secures you the best deal available for you.
4 smart ways refinancing can work for you
A strategic refinance does more than just lower your rate - it can empower your financial future.
Simplify your finances
Trade multiple credit card payments and loans for a single mortgage payment, potentially saving thousands in interest.
More breathing room in your budget
Reduce your monthly mortgage payment through lower rates or extended loan terms and make way for more savings.
Make your equity work for you
Leverage today’s competitive rates to access your home’s equity for renovations, education costs, or other major expenses.
Align your goals with your mortgage
Switch from an adjustable to a fixed-rate and shorten or extend your term to get a custom mortgage that fits your goals.
Is it the right time to refinance?
Our mortgage experts analyze market opportunities that match your financial scenario and advise you if now is a good time to refinance or not.
Explore refinancing options that match your goals
Tap into your home’s value
Use your home’s equity to refinance for more than what you currently owe, using the extra cash as you like.
Better terms, same balance
Use your home’s equity to refinance for more than what you currently owe, using the extra cash as you like.
Skip the closing costs
No upfront fees, no delays to your savings. Get a slightly higer rate and benefit from zero out-of-pocket expenses at closing.
Know how much you can save by refinancing
Get a free quoteReal clients, real savings
Here’s what homeowners like you have to say about refinancing with us
Exceptional experience
I had an exceptional experience. From start to finish, the process was smooth, transparent, and stress-free. He was incredibly knowledgeable, patient, and always available to answer my questions, no matter how small. He went above and beyond to secure the best rates for me and explained each step in a way that made me feel confident and informed. I truly felt like they had my best interests at heart. He was professional, responsive, and dedicated to ensuring my closing went off without a hitch. Thank you for making my home-buying journey such a positive experience!
M. Hanif
Answers to popular refinancing questions
How much does it cost to refinance a mortgage?
Refinancing typically costs between 2-5% of your loan amount, covering expenses like appraisal fees, origination fees, and title insurance. At Mr. Rate, we offer options to roll these costs into your loan or choose our no-cost refinancing program where we cover the closing costs in exchange for a slightly higher interest rate.
How soon can I refinance after buying my home?
For conventional loans, you can typically refinance after six months of mortgage payments. FHA loans may require a full year of payments before refinancing. Our advisors can evaluate your specific situation to determine your eligibility timeline.
Will refinancing affect my credit score?
Refinancing generally causes a temporary dip in your credit score (typically 5-10 points) due to the hard inquiry and new account opening. If you’re planning other major credit applications, we can advise on the optimal timing to minimize impact across all your financial goals.
How do I know if refinancing is worth it?
Refinancing makes financial sense when you’ll recoup the closing costs through monthly savings within a reasonable timeframe (typically 2-3 years). Our advisors conduct a comprehensive analysis of your specific situation rather than just looking at the rate difference.
Can I refinance if my home value has decreased?
Yes, refinancing may still be possible even if your home has decreased in value. Government programs like HARP (Home Affordable Refinance Program) and its successors were designed specifically for underwater or low-equity homes. We’ll assess your current loan-to-value ratio and explore all available options.