See whether refinancing saves you money
Tom compares your current loan with today's options and shows your monthly savings, closing costs and break-even point, with an honest recommendation.
No credit pull to start · Options from 45 lenders · Call or text 603-851-4982
What a refinance can do
Lower your rate or payment
A rate-and-term refinance replaces your loan with one at a lower rate, a different term, or both. Have an FHA loan? See how an FHA streamline refinance works, or read when refinancing makes sense and what sets your rate.
Take cash out
Use your home's equity for renovations, college or other big expenses. See how a cash-out refinance works in NH, or compare a HELOC and a cash-out refinance. Buying out a spouse? See keeping the home after a divorce. Inherited a home with family? See buying out other heirs.
Consolidate debt
Roll higher-interest credit cards or loans into your mortgage and see the total cost side by side.
Drop mortgage insurance
If your home has gained value, refinancing may remove FHA or private mortgage insurance and lower your payment. On a conventional loan, PMI may also be cancelled without refinancing: how to remove PMI.
Pay off sooner
Move to a 15- or 20-year term and cut the total interest you'll pay.
VA streamline
Eligible veterans with a VA loan may qualify for a simpler refinance with less paperwork. See the VA loan guide.
Which refinance fits your goal?
The three most common types, side by side. Tom will confirm which you qualify for.
| Rate-and-term | Cash-out | FHA or VA streamline | |
|---|---|---|---|
| Best for | Lowering your rate or payment, changing your loan term, or removing mortgage insurance | Using home equity for renovations, paying off debt or other large expenses | Homeowners with an FHA or VA loan who want a simpler path to a lower rate or payment |
| What changes | Your rate, your term or both. Your balance stays about the same, apart from any closing costs you roll in. | Your new loan is larger than what you owe now, and you receive the difference at closing. | Your rate and payment, usually with less paperwork and often without a new appraisal. |
| Things to know | Restarting a long term could lower your payment but raise the total interest you pay. A shorter term usually raises the payment. | Cash-out loans are often priced higher than rate-and-term. Your home secures the new debt, so weigh that before paying off credit cards. | Available only on an existing FHA or VA loan, and the new loan must offer a clear benefit. FHA mortgage insurance stays, and a VA funding fee may apply unless you're exempt. |
How long until a refinance pays for itself?
Compare your current payment with a new one and see how many months of savings it could take to cover closing costs.
- New principal and interest
- $0
- Monthly change
- $0
- Current loan, remaining payments
- $0
- New loan, payments plus closing costs
- $0
- Difference
- $0
Estimates only, not a loan offer or commitment to lend. Refinancing may increase the total finance charges you pay over the life of the loan, especially if you extend your term. This assumes closing costs are paid at closing rather than added to the loan. Your actual rate, payment and costs depend on your credit, loan program and property.
No credit pull to start. Tom replies personally.
A side-by-side, in plain numbers
- Your current payment next to your new estimated payment
- Estimated closing costs and how many months to break even
- Total interest over the life of each loan
- Tom's honest take: refinance now, wait, or skip it
Refinance questions
Don't see yours? Call or text Tom or browse more answers.
Have your latest mortgage statement handy when we talk. Your balance, rate and remaining term are what I need to build a useful side-by-side.
What does it cost to refinance?
Closing costs typically include lender, appraisal, title and recording fees, plus prepaid interest and deposits for a new escrow account. Your Loan Estimate lists each one, and Tom's savings review shows how long it could take to earn them back.
Can I roll the closing costs into my new loan?
Often, if you have enough equity. Another option is a lender credit in exchange for a slightly higher rate. Either way you pay for the costs over time, so Tom shows both side by side.
When might refinancing not make sense?
When you expect to sell or refinance again before the monthly savings cover the closing costs, or when the savings are small. Tom will tell you if keeping your current loan is the better call.
Will I need a new appraisal?
Usually, since the lender needs to confirm your home's current value. Some FHA and VA streamline refinances skip it, and some other loans may qualify for an appraisal waiver.
Do I skip a mortgage payment when I refinance?
Not really. Mortgage interest is paid in arrears, so your first new payment may not be due for a month or more, but the interest for that time is part of your closing costs and your old loan's payoff.
Reviewed October 16, 2026
Questions about your current loan?
Tom will review it with you at no cost and with no obligation.
Get a call back
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