Comparing refinance rates is not about finding the smallest number on an ad. It is about comparing the same loan, on the same day, across several lenders.
Do that and the spread between the best and worst offer is often worth thousands of dollars over the life of the loan.
Every lender must give you a standardized Loan Estimate within three business days of your application. The forms line up field for field, which makes comparison honest.
Rate shopping within a 45-day window counts as a single inquiry for most credit scoring models, so several applications will not sink your score.
Run your own figures through the calculator. No credit check, nothing saved unless you ask.
Calculate my equityThree to five. Studies of borrower behavior consistently show that getting more than one quote saves meaningful money over the loan term.
Multiple mortgage inquiries within a short shopping window are treated as one inquiry, so the impact is minimal.
Part of The Homeowner's Guide to Home Equity.
How a cash-out refinance works, how much cash you can take out of your home, what it costs, and when it beats a HELOC.
What cash-out refinance rates depend on, how they compare with regular refinance rates, and how to get a low rate on your cash-out.
The break-even math behind a home refinance: how far rates need to fall, how long you need to stay, and when to skip it entirely.