Refinance guides

Three ways homeowners restructure the debt on their home: lower the rate, consolidate high-interest balances, or take cash out of equity. Each guide explains the math, the equity required and the break-even month, without the sales language.

• Rate-and-term refinance: how it works and when it pays off

  How a rate-and-term refinance lowers your payment or shortens your loan, what it costs, and how to read the break-even month before you commit.

• Debt consolidation refinance: turn 24% interest into mortgage interest

  How a debt consolidation refinance pays off credit cards and loans at closing, what it frees up monthly, and the trade-offs to weigh before signing.

• Cash-out refinance: how much equity you can actually access

  How much cash you can take from your home's equity, what the 80% limit means in dollars, what the funds are used for, and how cash-out compares to a HELOC.