REFINANCE.

It comes down to your break-even - the closing costs divided by your monthly savings tells you how many months until the refi pays for itself. If you'll stay in the home past that point, it usually makes sense. I run this number for you before you commit, and if it doesn't clear, I'll tell you to keep your current loan.

Closing costs typically run 2-5% of the loan amount - appraisal, title, lender fees, and so on. They can be paid up front, rolled into the loan, or offset by a slightly higher rate (a "no-cost" refi). None of those are free; they just move the cost around. I show you all three ways so you can see the real trade-off.

No. The lender covers the costs in exchange for a higher interest rate, so you pay over time instead of up front. It can be the right call if you're not staying long, but it's not free money. I'll show you the breakeven on paying costs up front versus taking the higher rate.

For a basic rate-and-term refinance, often as little as 5% equity. For a cash-out refinance, most lenders want you to keep at least 20% equity in the home after you pull cash. Your exact options depend on your loan type and current value - I'll pull comparable values before we start.

It can, if you choose a new 30-year term - which lowers your payment but can cost more interest over time if you're already years into your current loan. You don't have to: we can match a shorter term (like a 15- or 20-year, or a custom term) so you keep your payoff date while still lowering your rate.

Yes - that's a cash-out refinance. You borrow against your equity and take the difference in cash, keeping one mortgage at mortgage rates instead of higher-cost credit card or personal loan debt. It's a powerful tool to get out of debt; the only danger is running the balances back up, so we make a plan first.

Only slightly and temporarily. The rate-shopping inquiries are grouped as one if they're inside a 45-day window, and the small dip recovers quickly. Refinancing to lower your payment or pay off high-interest debt often helps your overall financial picture far more than the brief inquiry costs.

Most refinances close in about 21-30 days. You keep living in the home the entire time. After you sign on an owner-occupied refinance, federal law gives you a 3-business-day right to cancel before the loan funds.

Yes. The same Non-QM programs that work for purchases - bank statement, P&L, 1099, DSCR, asset depletion - also work for refinances. If your tax returns understate your income, we use the program that tells your real story.

I'm paid by the lender, not by you. Every dollar of compensation is laid out on your loan estimate the day we lock. No surprises at closing - ever. Brokers are required by federal law to disclose every dollar.

Depends entirely on your numbers and how long you'll keep the home. Trying to perfectly time the bottom usually costs more than it saves. I'll run your break-even at today's rates and be honest about whether waiting makes sense for your situation - sometimes it does, and I'll say so.