The 'break-even' test is the gold standard. Divide your closing costs by your monthly savings. If you plan to stay in the home longer than that period, it's usually a win. We run this for you for free!
Refinance: Lower Your Payment & Build Wealth
It’s not just about the rate. It’s about financial freedom. Whether you want lower payments, cash for renovations, or a faster path to a clear title, we have the program to get you there.
Smart Reasons to Review Your Mortgage
We help you identify the strategy that fits your unique financial goals.
Lower Your Interest Rate
Even a small reduction can save you hundreds every month and thousands over the life of your loan.
Access Your Home Equity
Tap into your home's value for renovations, debt payoff, or major expenses at mortgage rates.
Eliminate PMI or MIP
If you've gained 20% equity, you can stop paying for mortgage insurance and save $100–$300/month.
Pay Off Faster
Switch from a 30-year to a 15-year term to build equity rapidly and slash total interest paid.
Switch ARM to Fixed
Lock in a predictable payment before your adjustable rate resets in the 2026 market.
Debt Consolidation
Roll high-interest credit card debt into a lower mortgage rate to simplify your finances.
The Break-Even Formula
We don't recommend a refinance unless the math works for YOU. The break-even point is when your monthly savings finally cover the cost of the loan.
$7,500 ÷ $250 = 30 Months
Closing Costs ÷ Monthly Savings = Break-Even Point
If you plan to stay in your home past this point, you’re looking at pure profit every single month.
Refinance FAQs
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How do I know if refinancing makes sense?
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How much does it cost to refinance?
Typically 2–5% of the loan amount. Most homeowners choose to roll these costs into the new loan balance so they have $0 out-of-pocket at closing.
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How long does the process take?
Conventional loans take 30–45 days. Streamline programs (VA/FHA) are much faster, often closing in just 2–3 weeks.
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Will it hurt my credit score?
There's a small, temporary dip from the credit inquiry, but consistent on-time payments on the new loan will build your score back up quickly.
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Can I skip a payment?
Often, yes! Because mortgage interest is paid in arrears, many of our clients skip one monthly payment during the transition.
Ready to Lower Your Payment?
Get a free, no-pressure refinance analysis from Kyle & Team. We’ll show you exactly what you could save.
Related Resources:
- 2026 Rate Forecast
- VA IRRRL Streamline
- FHA Streamline
- KYLE JESSEE LENDING TEAM
- MOVEMENT MORTGAGE
184 Duke of Gloucester St Suite 1B, Annapolis, MD 21401
NMLS #1212644 | Kyle.Jessee@movement.com