Lower your rate, drop FHA mortgage insurance, shorten your term, or take cash out for renovations. Mike runs the real break-even math and shops 100+ lenders so a refinance actually saves you money.
Reduce your monthly payment when rates or your credit improve.
Move from FHA to conventional once you hit ~20% equity.
Tap equity for renovations, hurricane hardening, or debt payoff.
Refinance into a 15- or 20-year and save on total interest.
A refinance isn't automatically a good deal — the math has to work. The number that matters most is your break-even point: divide your total closing costs by your monthly savings, and you get the number of months until the refinance pays for itself. Stay in the home past that point and you're ahead; sell before it and you've lost money.
Mike calculates this with you up front, and because he's a broker shopping 100+ lenders, he can find lower-cost lender-credit structures that shorten your break-even. Curious what your numbers look like? Start with the mortgage calculators, then reach out for an exact quote.
The classic reasons are: to lower your rate and payment, to switch from an adjustable to a fixed rate, to drop FHA mortgage insurance by moving to conventional once you have equity, to shorten your term, or to pull cash out for renovations or debt payoff. Mike will run the actual break-even math so you're not refinancing just to refinance.
The key number is your break-even point — closing costs divided by your monthly savings tells you how many months until the refinance pays for itself. If you'll stay in the home well past that point, it usually makes sense. Mike calculates this with you before you commit to anything.
Often yes. On most FHA loans, mortgage insurance stays for the life of the loan. Once you have roughly 20% equity — common in SW Florida after recent appreciation — refinancing into a conventional loan can eliminate that monthly MIP. Mike can check your current equity and see if this saves you money.
A cash-out refinance replaces your mortgage with a larger one and gives you the difference in cash. Most programs let you borrow up to about 80% of your home's value. SW Florida homeowners often use cash-out for renovations, hurricane hardening, or consolidating higher-interest debt.
Most refinances close in about 30–45 days, though it varies with appraisal timelines and how quickly documents come in. Because Mike shops multiple lenders, he can also weigh a slightly slower lender against a meaningfully better rate.
It can, but it doesn't have to. You can refinance into a shorter term (like a 20- or 15-year) to avoid stretching your payoff back out. Mike can show you a few term options side by side so you see the payment and total-interest trade-offs.
Get a free break-even analysis and a rate quote shopped across 100+ lenders — no obligation.