Refinance only when the math says yes.
We'll help you model your real breakeven — not just pitch a lower rate. If a refinance makes sense, you'll know exactly why. If it doesn't, we'll tell you that too.
Three reasons buyers refinance
Rate & Term
Replace your current loan with one that has a lower rate, shorter term, or different structure.
Cash-Out
Refinance into a larger loan and take the difference in cash for renovations, debt payoff, or investing.
FHA / VA Streamline (IRRRL)
A simplified refinance for existing FHA or VA loans — often with less paperwork.
The breakeven is the whole story
Any lender can show you a lower payment. The honest question is: how many months of payment savings does it take to recover the closing costs? If you'll sell or refinance again before that month, a refinance probably doesn't pay off.
Our rule of thumb
We generally recommend a refinance when your estimated breakeven is inside your realistic time horizon in the home — and you're confident the rate or structure improvement is worth the effort. We'll put the numbers on paper.
Savings estimates are illustrative only. Actual savings depend on your current loan, credit, property, program, and market conditions. Speak with a TMES advisor for a personalized estimate.
What to have handy
- Your current mortgage statement
- Your current rate and remaining term
- Recent property value estimate
- Last 30 days of pay stubs (if employed)
- Two years of W-2s or tax returns
- Goals: lower payment, shorter term, or cash out?
Let's see if refinancing makes sense
A TMES advisor will pull an honest breakeven analysis and walk you through the numbers. If it doesn't pay off, we'll say so.
No credit pull on any tool. Your information is never sold. NMLS ID# 205178.