Refinancing replaces your current mortgage with a new one — to lower your rate or payment, shorten your term, or turn equity into cash for what matters most.
Lower your rate or change your loan length.
Turn equity into cash for renovations or debt.
Pay off your home faster.
Roll higher-interest debt into your mortgage.
When it lowers your rate or payment, helps you pay off your home faster, or lets you tap equity at a good cost. We'll run the numbers so it's a clear yes or no.
It replaces your mortgage with a larger loan and gives you the difference in cash — useful for renovations, debt consolidation, or big expenses.
Refinancing has closing costs, but they're often offset by monthly savings. We'll show you the break-even point up front.
For most homeowners this year, chasing a lower rate isn’t the reason to refinance. The good reasons are structural — dropping mortgage insurance, an ARM that’s resetting, a recast, or changing who’s on the loan.
7 min read · Updated September 2026A HELOC’s rate can move with the Fed; a cash-out refinance locks your payment but re-prices your entire first mortgage. Here’s how to tell which tradeoff fits the loan you already have.
Updated September 2026FHA Loans · VA Loans · Conventional Loans · USDA Loans · Jumbo Loans · See all loan options →
Tell us a little about your plans and a licensed Clear Home Loans loan officer will follow up to talk through your options. It takes about a minute, with no obligation.