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Refinancing your mortgage
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height:1.125rem" viewbox="0 0 30 40"> <g stroke-width="4" fill="none" class="stroke-contrast"> <line x1="2" y1="21" x2="23" y2="4"/> <line x1="2" y1="21" x2="23" y2="38"/> </g> </svg> Back<span class="show-for-sr"> to previous menu</span> </button> </div> <div class="grid-x"> <div class="cell"> <ul role="list" class="menu vertical no-margin-top half-gutter-top gutter-bottom"> <li role="listitem" class="overview-item"> <a class="block" href="/owning" title="Owning"> <div class="eyebrow"></div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-owning.svg" alt=""> </div> <div>Owning Overview</div> </a> </li> <li role="listitem"> <a class="block" href="/owning/your-responsibilities" title="Your responsibilities"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-owning.svg" alt=""> </div> <div>Your responsibilities</div> </a> </li> <li role="listitem"> <a class="block" href="/owning/your-homes-value" title="Your home's value"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-owning.svg" alt=""> </div> <div>Your home's value</div> </a> </li> <li role="listitem"> <a class="block" href="/owning/home-maintenance" title="Maintaining your home"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-owning.svg" alt=""> </div> <div>Maintaining your home</div> </a> </li> <li role="listitem"> <a class="block" href="/owning/homeownership-costs" title="Homeownership costs"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-owning.svg" alt=""> </div> <div>Homeownership costs</div> </a> </li> </ul> </div> </div> </div> <div role="menu" class="submenu refinancing" id="subnav-refinancing" data-toggler data-animate="slide-in-subnav slide-out-subnav" style="display: none;" tabindex="-1"> <div class="clearfix subnav-icons"> <button class="nav-icon float-left subnav-back" type="button" data-toggle="subnav-refinancing nav-menu-toggle submenu-wrapper" id="subnav-back-refinancing"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" style="margin-left: 0; width:0.875rem; height:1.125rem" viewbox="0 0 30 40"> <g stroke-width="4" fill="none" class="stroke-contrast"> <line x1="2" y1="21" x2="23" y2="4"/> <line x1="2" y1="21" x2="23" y2="38"/> </g> </svg> Back<span class="show-for-sr"> to previous menu</span> </button> </div> <div class="grid-x"> <div class="cell"> <ul role="list" class="menu vertical no-margin-top half-gutter-top gutter-bottom"> <li role="listitem" class="overview-item"> <a class="block" href="/refinancing" title="Refinancing"> <div class="eyebrow"></div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-refinancing.svg" alt=""> </div> <div>Refinancing Overview</div> </a> </li> <li role="listitem"> <a class="block" href="/refinancing/planning-to-refinance" title="Planning to refinance"> <div class="eyebrow"> Step 1 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-refinancing.svg" alt=""> </div> <div>Planning to refinance</div> </a> </li> <li role="listitem"> <a class="block" href="/refinancing/costs-of-refinancing" title="Costs of refinancing"> <div class="eyebrow"> Step 2 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-refinancing.svg" alt=""> </div> <div>Costs of refinancing</div> </a> </li> <li role="listitem"> <a class="block" href="/refinancing/options-for-refinancing" title="Options for refinancing"> <div class="eyebrow"> Step 3 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-refinancing.svg" alt=""> </div> <div>Options for refinancing</div> </a> </li> <li role="listitem"> <a class="block" href="/refinancing/working-with-your-lender" title="Working with your lender"> <div class="eyebrow"> Step 4 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-refinancing.svg" alt=""> </div> <div>Working with your lender</div> </a> </li> <li role="listitem"> <a class="block" href="/refinancing/closing-your-loan" title="Closing your loan"> <div class="eyebrow"> Step 5 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-refinancing.svg" alt=""> </div> <div>Closing your loan</div> </a> </li> </ul> </div> </div> </div> <div role="menu" class="submenu selling" id="subnav-selling" data-toggler data-animate="slide-in-subnav slide-out-subnav" style="display: none;" tabindex="-1"> <div class="clearfix subnav-icons"> <button class="nav-icon float-left subnav-back" type="button" data-toggle="subnav-selling nav-menu-toggle submenu-wrapper" id="subnav-back-selling"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" style="margin-left: 0; width:0.875rem; height:1.125rem" viewbox="0 0 30 40"> <g stroke-width="4" fill="none" class="stroke-contrast"> <line x1="2" y1="21" x2="23" y2="4"/> <line x1="2" y1="21" x2="23" y2="38"/> </g> </svg> Back<span class="show-for-sr"> to previous menu</span> </button> </div> <div class="grid-x"> <div class="cell"> <ul role="list" class="menu vertical no-margin-top half-gutter-top gutter-bottom"> <li role="listitem" class="overview-item"> <a class="block" href="/selling" title="Selling"> <div class="eyebrow"></div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-selling.svg" alt=""> </div> <div>Selling Overview</div> </a> </li> <li role="listitem"> <a class="block" href="/selling/working-with-your-agent" title="Working with your agent"> <div class="eyebrow"> Step 1 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-selling.svg" alt=""> </div> <div>Working with your agent</div> </a> </li> <li role="listitem"> <a class="block" href="/selling/costs-of-selling" title="Costs of selling"> <div class="eyebrow"> Step 2 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-selling.svg" alt=""> </div> <div>Costs of selling</div> </a> </li> <li role="listitem"> <a class="block" href="/selling/preparing-to-sell-your-home" title="Preparing to sell your home"> <div class="eyebrow"> Step 3 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-selling.svg" alt=""> </div> <div>Preparing to sell your home</div> </a> </li> <li role="listitem"> <a class="block" href="/selling/negotiating-offers" title="Negotiating offers"> <div class="eyebrow"> Step 4 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-selling.svg" alt=""> </div> <div>Negotiating offers</div> </a> </li> <li role="listitem"> <a class="block" href="/selling/closing-your-loan-when-selling" title="Closing your loan"> <div class="eyebrow"> Step 5 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-selling.svg" alt=""> </div> <div>Closing your loan</div> </a> </li> </ul> </div> </div> </div> <div role="menu" class="submenu renting" id="subnav-renting" data-toggler data-animate="slide-in-subnav slide-out-subnav" style="display: none;" tabindex="-1"> <div class="clearfix subnav-icons"> <button class="nav-icon float-left subnav-back" type="button" data-toggle="subnav-renting nav-menu-toggle submenu-wrapper" id="subnav-back-renting"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" style="margin-left: 0; width:0.875rem; height:1.125rem" viewbox="0 0 30 40"> <g stroke-width="4" fill="none" class="stroke-contrast"> <line x1="2" y1="21" x2="23" y2="4"/> <line x1="2" y1="21" x2="23" y2="38"/> </g> </svg> Back<span class="show-for-sr"> to previous menu</span> </button> </div> <div class="grid-x"> <div class="cell"> <ul role="list" class="menu vertical no-margin-top half-gutter-top gutter-bottom"> <li role="listitem" class="overview-item"> <a class="block" href="/renting" title="Renting"> <div class="eyebrow"></div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-renting.svg" alt=""> </div> <div>Renting Overview</div> </a> </li> <li role="listitem"> <a class="block" href="/renting/what-can-you-afford" title="What can you afford"> <div class="eyebrow"> Step 1 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-renting.svg" alt=""> </div> <div>What can you afford</div> </a> </li> <li role="listitem"> <a class="block" href="/renting/preparing-to-rent" title="Preparing to rent"> <div class="eyebrow"> Step 2 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-renting.svg" alt=""> </div> <div>Preparing to rent</div> </a> </li> <li role="listitem"> <a class="block" href="/renting/finding-the-right-rental" title="Finding the right rental"> <div class="eyebrow"> Step 3 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-renting.svg" alt=""> </div> <div>Finding the right rental</div> </a> </li> <li role="listitem"> <a class="block" href="/renting/applying-for-a-lease" title="Applying for a lease"> <div class="eyebrow"> Step 4 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-renting.svg" alt=""> </div> <div>Applying for a lease</div> </a> </li> <li role="listitem"> <a class="block" href="/renting/before-you-sign" title="Know before you sign"> <div class="eyebrow"> Step 5 </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-renting.svg" alt=""> </div> <div>Know before you sign</div> </a> </li> </ul> </div> </div> </div> <div role="menu" class="submenu getting-help" id="subnav-getting-help" data-toggler data-animate="slide-in-subnav slide-out-subnav" style="display: none;" tabindex="-1"> <div class="clearfix subnav-icons"> <button class="nav-icon float-left subnav-back" type="button" data-toggle="subnav-getting-help nav-menu-toggle submenu-wrapper" id="subnav-back-getting-help"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" style="margin-left: 0; width:0.875rem; height:1.125rem" viewbox="0 0 30 40"> <g stroke-width="4" fill="none" class="stroke-contrast"> <line x1="2" y1="21" x2="23" y2="4"/> <line x1="2" y1="21" x2="23" y2="38"/> </g> </svg> Back<span class="show-for-sr"> to previous menu</span> </button> </div> <div class="grid-x"> <div class="cell"> <ul role="list" class="menu vertical no-margin-top half-gutter-top gutter-bottom"> <li role="listitem" class="overview-item"> <a class="block" href="/getting-help" title="Getting Help"> <div class="eyebrow"></div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-getting-help.svg" alt=""> </div> <div>Getting Help Overview</div> </a> </li> <li role="listitem"> <a class="block" href="/getting-help/assessing-your-situation" title="Assessing your financial situation"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-getting-help.svg" alt=""> </div> <div>Assessing your financial situation</div> </a> </li> <li role="listitem"> <a class="block" href="/getting-help/who-to-contact-for-help" title="Who to contact for help"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-getting-help.svg" alt=""> </div> <div>Who to contact for help</div> </a> </li> <li role="listitem"> <a class="block" href="/getting-help/options-to-stay" title="Options to stay in your home"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-getting-help.svg" alt=""> </div> <div>Options to stay in your home</div> </a> </li> <li role="listitem"> <a class="block" href="/getting-help/options-to-leave" title="Options to leave your home"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-getting-help.svg" alt=""> </div> <div>Options to leave your home</div> </a> </li> <li role="listitem"> <a class="block" href="/getting-help/natural-disasters" title="Help after a natural disaster"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-getting-help.svg" alt=""> </div> <div>Help after a natural disaster</div> </a> </li> <li role="listitem"> <a class="block" href="/getting-help/avoiding-fraud" title="Avoiding fraud"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-getting-help.svg" alt=""> </div> <div>Avoiding fraud</div> </a> </li> <li role="listitem"> <a class="block" href="/owning/borrower-notification-letter-faqs" title="Borrower notification letter FAQs"> <div class="eyebrow"> </div> <div class="float-right" aria-hidden="true"> <img src="/sites/g/files/ynjofi136/themes/site/myhome_theme/images/icons/arrow-getting-help.svg" alt=""> </div> <div>Borrower notification letter FAQs</div> </a> </li> </ul> </div> </div> </div> <div role="menu" class="submenu blog" id="subnav-blog" data-toggler data-animate="slide-in-subnav slide-out-subnav" style="display: none;" tabindex="-1"> <div class="clearfix subnav-icons"> <button class="nav-icon float-left subnav-back" type="button" data-toggle="subnav-blog nav-menu-toggle submenu-wrapper" id="subnav-back-blog"> <svg aria-hidden="true" xmlns="http://www.w3.org/2000/svg" style="margin-left: 0; width:0.875rem; height:1.125rem" viewbox="0 0 30 40"> <g stroke-width="4" fill="none" class="stroke-contrast"> <line x1="2" y1="21" x2="23" y2="4"/> <line x1="2" 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<div class="nav-contextual-wrapper half-gutter-top gutter-bottom show-for-large"> <nav class="text-center nav-contextual" role="navigation"> <a id="refinancing-planning-to-refinance-tile" href="/refinancing/planning-to-refinance" class="nav-tile is-active"> <div class="eyebrow gutter-bottom"> Step 1 </div> <div>Planning to refinance</div> </a> <a id="refinancing-costs-of-refinancing-tile" href="/refinancing/costs-of-refinancing" class="nav-tile"> <div class="eyebrow gutter-bottom"> Step 2 </div> <div>Costs of refinancing</div> </a> <a id="refinancing-options-for-refinancing-tile" href="/refinancing/options-for-refinancing" class="nav-tile"> <div class="eyebrow gutter-bottom"> Step 3 </div> <div>Options for refinancing</div> </a> <a id="refinancing-working-with-your-lender-tile" href="/refinancing/working-with-your-lender" class="nav-tile"> <div class="eyebrow gutter-bottom"> Step 4 </div> <div>Working with your lender</div> </a> <a id="refinancing-closing-your-loan-tile" 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.3444089.02243095.5060337.06457182l-2.2037301 2.16287676c-1.4876156 1.45380391-2.7553931 2.68218835-3.8030952 3.68493488l-1.3600055 1.29121672-.9616122.89311653c-.1113116.1017866-.2158461.19664199-.313585.28455058l-.4440896.39200576-.5090941-.41639415-.7229104-.61180981c-.3380784-.28952737-.72216527-.62225595-1.15198425-.99797185L7.24259867 5.22128865 4.2875924 2.57415536C3.58578763 1.94237455 2.83953239 1.26878644 2.04884464.55340631 2.19279445.51778736 2.34432.5 2.5.5h18z"/> </svg> </a> </div> </div> </div> <article class="grid-container"> <div class="grid-x grid-padding-x"> <div class="large-8 medium-10 medium-centered cell gutter-bottom"> <div class="text-center gutter-all-large"> <h1>Planning to refinance</h1> <p class="lead gutter-bottom">Refinancing your mortgage can be advantageous for many reasons. But knowing when, how and at what cost can help you make the best decision for your needs.</p> <hr> </div> </div> <div class="large-8 medium-10 medium-centered cell"> <div> <div> <div class="paragraph paragraph--type--wysiwyg paragraph--view-mode--default"> <div><p>During the term of your mortgage, you may want to <a href="/blog/refinancing">refinance</a> to meet a variety of <a href="/blog/financial-education/how-set-and-preserve-financial-goals">personal and financial goals</a>. Refinancing will completely replace your current mortgage with a new loan that provides you with a new term, rate and monthly payment. <a href="/refinancing/costs-of-refinancing">Refinancing will involve time and money</a>, so be sure to <a href="/refinancing/working-with-your-lender">talk with your lender</a> about the costs and benefits of securing a new loan.</p></div> </div> </div> <div> <aside class="promo-themed"> <p>You can expect to spend 3%-6% of your loan principal on refinancing your mortgage. The total <a href="/refinancing/costs-of-refinancing">cost to refinance</a> will be determined by your lender, <a href="/blog/financial-education/20210810-understanding-credit-scores">your credit score</a> and your location.</p> </aside> </div> <div><div style="height:2.00rem;"></div> </div> <div> <div class="paragraph paragraph--type--wysiwyg paragraph--view-mode--default"> <div><p>You can refinance through your existing lender or a <a href="/blog/homebuying/6-tips-consider-when-shopping-lender">new lender</a>. What鈥檚 most important is that the lender you choose is trustworthy and offers competitive rates and terms. The best way to determine if you鈥檙e being offered competitive terms is to <a href="https://myhome.freddiemac.com/blog/homeownership/6-tips-consider-when-shopping-lender">shop around and compare loan estimates</a> from multiple lenders. Our research shows that you could save on average several thousand dollars over the life of the loan by getting additional rate quotes.</p><h2 class="section-header">Reasons to refinance</h2><p>Common reasons to refinance include:</p></div> </div> </div> <div> <div class="paragraph paragraph--type--wysiwyg paragraph--view-mode--default"> <div><h3>1. Lowering your mortgage rate.</h3><p>If <a href="/buying/mortgage-rates">mortgage rates</a> are lower than when you closed on your current mortgage, refinancing could reduce your <a href="/blog/homeownership/20210917-7-parts-mortgage-payment">monthly payments</a> and the total amount of interest you pay over the life of the loan.</p><p>Even the slightest difference in your mortgage rate can impact your monthly payment. The following example shows the dollar amount difference when refinancing a $300,000 outstanding loan balance into a 30-year fixed-rate mortgage at various rates.</p><table border="0" cellpadding="0" cellspacing="0"><thead><tr><th style="text-align:center;" width="50%">Mortgage Rate</th><th style="text-align:center;" width="50%">Monthly Mortgage Payment<br>(principal and interest)</th></tr></thead><tbody><tr><td width="50%">6.15%</td><td width="50%">$1,828</td></tr><tr><td width="50%">6.29%</td><td width="50%">$1,855</td></tr><tr><td width="50%">6.36%</td><td width="50%">$1,869</td></tr><tr><td width="50%">6.65%</td><td width="50%">$1,926</td></tr><tr><td width="50%">6.75%</td><td width="50%">$1,946</td></tr></tbody></table><p>If you refinance to a lower interest rate, your <a href="https://myhome.freddiemac.com/blog/homeownership/20210917-7-parts-mortgage-payment">monthly payment</a> will likely shrink. You can put those savings toward other expenses or apply it toward your principal balance, which will help <a href="https://myhome.freddiemac.com/blog/homeownership/20190319-faster-way-to-be-mortgage-free">you pay off your loan sooner</a>.</p><h3>2. Moving from one mortgage product to another.</h3><p>If your current mortgage is an <a href="/blog/homebuying/considering-adjustable-rate-mortgage-heres-what-you-should-know">adjustable-rate mortgage (ARM)</a> and it no longer makes sense for your financial situation, refinancing into the security and stability of a <a href="/blog/homebuying/considering-a-fixed-rate-mortgage-heres-what-you-should-know">30-year fixed-rate mortgage</a> may be a good decision.</p><p>On the other hand, switching to an ARM could make sense, if you plan to move before the fixed-rate period on the loan ends.</p><h3>3. Building equity faster.</h3><p>If your financial situation has improved since your purchase, refinancing to a loan with a shorter term (e.g., from a 30-year fixed-rate mortgage to a 15-year fixed-rate mortgage) will allow you to <a href="https://myhome.freddiemac.com/blog/homeownership/20180226-what-is-home-equity">build equity faster</a>, own your home sooner and pay less in total interest.</p><h3>4. Getting cash out.</h3><p>If you鈥檝e built up significant equity in your home over the years and could use this money for <a href="/blog/keyword/home-renovation">home improvements</a> or to improve your financial situation, it might be a good time to talk with your lender about a <a href="https://myhome.freddiemac.com/refinancing/options-for-refinancing">cash-out refinance</a>.</p><h2 class="section-header">Does refinancing make sense?</h2><p>A quick check to see if refinancing makes financial sense for you is to <a href="/resources/calculators/am-i-better-off-refinancing">calculate how long it will take to recoup the costs of the refinance</a>. To do this, take the total <a href="/refinancing/costs-of-refinancing">cost associated with the refinance</a> and divide it by your monthly savings. <strong>Note that this model will not work for cash-out refinances or if you are refinancing to reduce the term of your loan</strong>.</p><article class="align-center"> <img width height src="/sites/g/files/ynjofi136/files/icon-refi-planning-woman-thought-bubble.svg" alt="woman calculating how long it will take to recover the costs of refinancing her home" loading="lazy"> </article> <p>There are other variables to consider. For example:</p><p>Reach out to<a href="/refinancing/working-with-your-lender"> your lender</a> to discuss your situation and evaluate whether refinancing is right for you.</p><ul><li><strong>Do you plan to move?</strong> If there鈥檚 a chance you may move in two years, but it will take you three years to recoup the cost of refinancing, it probably does not make financial sense.</li><li><strong>Are you going to significantly extend your loan term?</strong> If you have 20 years left on your 30-year fixed-rate mortgage and you refinance into a 30-year fixed-rate mortgage, you鈥檝e essentially extended the term of your loan and will pay more interest over the life of the loan as a result.</li></ul><p>Reach out to your lender to discuss your situation and evaluate whether refinancing is right for you.</p></div> </div> </div> <div> <div class="paragraph paragraph--type--wysiwyg paragraph--view-mode--default"> <div><aside class="promo-themed"> <div class="media-object stack-for-small"> <div class="media-object-section align-self-middle media-max-third"><a aria-controls="videoModal0" aria-haspopup="true" class="video-modal widescreen-video video-launch" data-open="videoModal0" data-src="//www.youtube-nocookie.com/embed/AUFON0RJoQY?rel=0&wmode=transparent" href="https://www.youtube.com/watch?v=AUFON0RJoQY" tabindex="0"><img alt="When to refinance video" height="178" loading="lazy" src="/sites/g/files/ynjofi136/files/myhome-video-thumbnail-refinancing.png" typeof="foaf:Image" width="272"></a></div> <div class="media-object-section main-section align-self-middle"> <p>Is it time to refinance? Learn why, with refinancing, timing is everything.</p> </div> </div> </aside> </div> </div> </div> <div> <h2 class="section-header-left">Tools and Resources</h2> <a class="block color-inherit no-decoration" href="/resources/calculators/am-i-better-off-refinancing"> <div class="media-object stack-for-xsmall"> <div class="media-object-section"> <div class="thumbnail-wrapper"> <img src="/sites/g/files/ynjofi136/files/icon-resource-calculator.svg" alt="calculator" loading="lazy" /> </div> </div> <div class="media-object-section main-section align-self-middle"> <h3>Refinance Calculator</h3> <p class="no-margin">Find out if you'll benefit from refinancing.</p> <div class="arrow-wrapper" aria-hidden="true"> <svg class="animated-arrow" xmlns="http://www.w3.org/2000/svg" style="width:3.4375rem; height:0.625rem" viewbox="0 0 55 10"> <path d="M31 0l8 5-8 5z" class="arrowhead"/> <path class="arrowline" d="M0,4h36v2H0V4z"/> </svg> </div> </div> </div> </a> <a class="block color-inherit no-decoration" href="/resources/mortgage-comparison"> <div class="media-object stack-for-xsmall"> <div class="media-object-section"> <div class="thumbnail-wrapper"> <img src="/sites/g/files/ynjofi136/files/2021-10/worksheets.svg" alt="worksheets" loading="lazy" /> </div> </div> <div class="media-object-section main-section align-self-middle"> <h3>Mortgage Worksheet</h3> <p class="no-margin">As you interview lenders, this will help you identify the best lender and mortgage option for you.</p> <div class="arrow-wrapper" aria-hidden="true"> <svg class="animated-arrow" xmlns="http://www.w3.org/2000/svg" style="width:3.4375rem; height:0.625rem" viewbox="0 0 55 10"> <path d="M31 0l8 5-8 5z" class="arrowhead"/> <path class="arrowline" d="M0,4h36v2H0V4z"/> </svg> </div> </div> </div> </a> <a class="block color-inherit no-decoration" href="/sites/g/files/ynjofi136/files/docs/choosing_the_mortgage_option.pdf"> <div class="media-object stack-for-xsmall"> <div class="media-object-section"> <div 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cell large-centered gutter-top gutter-bottom-medium"> <div class="grid-x grid-padding-x gutter-bottom"> <div class="cell text-center"> <h2>From Our Blog</h2> </div> </div> <div class="grid-x grid-padding-x grid-padding-y gutter-bottom" data-equalizer data-equalize-on="medium"> <div class="cell medium-4"> <a class="color-inherit block" href="/blog/homebuying/finding-right-freddie-mac-mortgage-product-you"> <div class="card"> <div aria-hidden="true"> <img src="/sites/g/files/ynjofi136/files/styles/4x3_aspect_ratio/public/blog_mortgage_program_large.png?itok=aLHDEU4a" width="640" height="480" alt="Two women in the kitchen with children" loading="lazy" /> </div> <div class="card-section background-concrete" data-equalizer-watch> <h3 class="h4 half-gutter-bottom">Finding the Right Freddie Mac Mortgage Product for You </h3> <p class="half-margin-bottom">Take a closer look at the various mortgage products offered by Freddie Mac.</p> <p class="align-self-bottom"><span aria-hidden="true" class="arrow-text"><span>Read More</span></span></p> </div> </div> </a> </div> <div class="cell medium-4"> <a class="color-inherit block" href="/blog/refinancing/closer-look-refinancing"> <div class="card"> <div aria-hidden="true"> <img src="/sites/g/files/ynjofi136/files/styles/4x3_aspect_ratio/public/blog_what-is-refinancing-large.png?itok=YLf30jXx" width="640" height="480" alt="Adults and kids laughing" loading="lazy" /> </div> <div class="card-section background-concrete" data-equalizer-watch> <h3 class="h4 half-gutter-bottom">A Closer Look at Refinancing</h3> <p class="half-margin-bottom">Learn the answers to five common questions about refinancing to help determine if it鈥檚 the right move for you.</p> <p class="align-self-bottom"><span aria-hidden="true" class="arrow-text"><span>Read More</span></span></p> </div> </div> </a> </div> <div class="cell medium-4"> <a class="color-inherit block" href="/blog/refinancing/when-right-time-refinance"> <div class="card"> <div 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