Still paying your 2021 rate?
Rates have shifted. See exactly how much you could save each month by refinancing at today's wholesale rate — in 60 seconds.
Your Refi Savings Calculator
Current Payment
$2,447/mo
New Payment
$2,182/mo
You Save
+$265/mo
That's $3,178/year — or $95,346 over the life of the loan.
No SSN required · Soft credit pull only · Takes 60 seconds
120+
Lenders Shopped
0.75%
Avg. Rate Reduction
$312
Avg. Monthly Savings
4,800+
Refi Closings (2025)
TODAY'S REFI RATES
30yr Fixed
6.37%
APR 6.519%
+0.070% today
15yr Fixed
5.72%
APR 5.869%
+0.080% today
FHA 30yr
6.39%
APR 6.539%
+0.044% today
VA 30yr
5.96%
APR 6.109%
-0.016% today
Rates shown are representative. APR varies based on loan amount, credit score, and terms. Not an offer to lend.
Why homeowners refinance with Turn Times
Lower your monthly payment
Even a 0.5% rate reduction on a $400K loan saves over $130/month — that's $1,600 a year back in your pocket.
Cash-out your equity
Access the equity you've built for home improvements, debt consolidation, or major expenses — at mortgage rates, not credit card rates.
Shorten your loan term
Switch from a 30yr to a 15yr and pay off your home faster — often with a lower rate and significant interest savings.
BREAK-EVEN ANALYSIS
How long until your refi pays for itself?
Closing costs typically run 2–5% of the loan amount. Enter your estimate below to see exactly when your monthly savings cover the upfront cost.
No-Closing-Cost Option
Roll costs into the rate — $0 out of pocket
Break-Even Point
2.6 years
(31 months to recover $8,000 in closing costs)
Monthly Savings
$265/mo
Net Lifetime Savings
$87,346
✓ You break even in under 5 years — this refi makes financial sense.
No SSN required · Soft credit pull only · Takes 60 seconds
How your refi works
See your savings
Enter your balance and current rate above. Our calculator shows your real monthly savings in seconds.
Lock your rate
We shop 120+ wholesale lenders to find your best rate — no LO fees, no markups, no surprises.
Close in 21 days
Our streamlined process closes most refis in 3 weeks. You get the savings, we handle the paperwork.
Not sure if a refi makes sense for you?
Ask Tony — our AI mortgage advisor — any question about refinancing. He'll tell you if it makes financial sense for your situation.
Hi there! I'm Tony AI, your mortgage advisor from Turn Times. I can definitely help you understand refinancing and whether it might be a good move for you. It's a smart idea to explore your options as a homeowner!
Refinancing means replacing your current mortgage with a new one. People usually do it for a few main reasons:
- Lowering your interest rate: This is often the biggest driver, as a lower rate can significantly reduce your monthly payment and the total interest you pay over the life of the loan.
- Reducing your monthly payment: Even without a lower rate, you might extend your loan term to reduce payments, though this means paying more interest over time.
- Tapping into home equity (cash-out refinance): If your home has increased in value, you can borrow against that equity to get cash for things like home improvements, debt consolidation, or other large expenses.
- Changing your loan term: You might want to switch from a 30-year to a 15-year mortgage to pay it off faster, or vice versa to lower payments.
- Switching loan types: For example, moving from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage for payment stability.
To figure out if it makes financial sense for your situation, we'd typically look at a few things:
- Your current interest rate vs. today's rates: If current rates are significantly lower than what you're paying, that's a strong indicator.
- How long you plan to stay in your home: Refinancing involves closing costs. You'll want to make sure you stay in the home long enough for the savings from the new rate to "pay back" those costs. This is called the break-even point.
- Your financial goals: Are you looking to save money monthly, pay off your home faster, or get cash out?
- Your credit score and debt-to-income ratio: These factors will influence the rates and terms you qualify for.
Common Refinance Options:
- Rate-and-Term Refinance: This is when you replace your current mortgage with a new one that has a different interest rate and/or loan term. You're not taking cash out, just adjusting the loan's terms.
- Cash-Out Refinance: This allows you to borrow more than you currently owe on your mortgage and receive the difference in cash at closing. It converts a portion of your home equity into liquid funds.
What's next?
While I can give you general information, I can't provide personalized financial advice or rate quotes. For that, you'll need to speak with one of our licensed loan officers. They can look
Ask Tony AI provides general mortgage education — not personalized financial advice. For a rate quote or pre-approval, speak with a licensed loan officer.
Ready to lower your rate?
Takes 60 seconds. No SSN. Soft credit pull only. 120+ lenders compared.
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