A refinance replaces your loan with a new one.
Usually to lower your rate, change your term or take cash out.
A refinance replaces your mortgage with a new loan.
Example: $300,000 balance
| Current 7.875% | $2,175 | |
|---|---|---|
| New 7.125% | $2,021 | |
| Monthly savings | $154 |
Hypothetical example: on a $300,000 balance, a 0.75% lower rate saves about $154 a month. APR may differ; example only. Rates change daily.
Example details: $300,000 30-year fixed at 7.875% (7.909% APR): 360 monthly payments of $2,175.21; $300,000 30-year fixed at 7.125% (7.155% APR): 360 monthly payments of $2,021.16. Principal and interest only; taxes and insurance not included, so the actual payment will be higher. Unless noted, APR assumes ZERO Closing Costs, no discount points and 15 days of prepaid interest. Hypothetical example prepared November 4, 2026, not a current CapCenter rate offer; subject to credit approval.
Closing costs change the math
ZERO Closing Costs
Your savings start with your first payment.
Typical lender
Thousands in fees to earn back first.
With ZERO Closing Costs, there are no fees to earn back.
Other reasons to refinance
- Shorten to a 15-year term
- Drop mortgage insurance
- Switch from an ARM to fixed
- Cash out
You can also refinance to shorten your term or drop mortgage insurance.
ZERO Closing Costs
CapCenter refinances come with ZERO Closing Costs (restrictions apply; see Offer details).
