better terms, lower payments, and financial freedom.
Mortgage refinancing replaces your existing home loan with a new one often to secure better terms, lower payments, or access equity.
At Refi Basics, we believe mortgage refinancing should be clear, easy, and accessible. Our mission is to empower homeowners with the knowledge and resources needed to make smart refinancing decisions that align with their unique financial goals.
To simplify mortgage refinancing and empower homeowners to make smart, confident financial decisions.
To be the go-to resource for accessible, transparent, and hassle-free mortgage refinance solutions.
Refinancing involves paying off your current mortgage with a new loan, typically with updated terms. The new loan may offer:
Expect fees for appraisal, origination, title search, and more (typically 2–5% of the loan amount).
Calculate the break-even point: How long it takes for monthly savings to outweigh upfront costs.
Extending your term may lower payments but increase total interest paid over time.
Most lenders require at least 20% equity for a conventional refinance (or 10% for FHA).
Refinancing involves a hard credit inquiry, which may temporarily lower your score.
Check if your current loan penalizes early payoff.
