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Conventional Refinance

Conventional Refinance

Let's Explore Pulling Cash From Your Equity, Across Georgia

A Conventional refinance replaces your current mortgage with a new Conventional loan, and it can serve two very different goals. A cash out refinance replaces your loan while turning part of your equity into cash. A rate and term refinance improves the loan itself: the rate, the payment, the term, or the structure. Conventional refinancing works for qualifying primary residences, second homes, and investment properties. Based in Atlanta, our team walks Georgia property owners through the numbers phone first.

Review My Refinance Options Call 404.919.5533

Checking your options does not automatically require a hard credit inquiry.

Atlanta based, serving homeowners and property owners across Georgia.

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Start Here

The Five Things to Know First

Start with your goal, not the rate

Are you trying to lower your rate, lower your payment, shorten your term, move from an adjustable rate to a fixed rate, change how mortgage insurance works, or access equity? Your goal determines which refinance path fits, and whether refinancing fits at all. A rate quote without a goal is just a number.

Rate and term and cash out are two different transactions

A rate and term refinance primarily restructures the financing you already have, with only a small amount of cash back permitted under agency rules. A cash out refinance replaces your loan and draws eligible equity as cash. Cash out generally involves different equity requirements, different pricing, and additional underwriting considerations.

How you use the property changes the refinance

Conventional financing can refinance a primary residence, an eligible second home, or an investment property, but the requirements are not identical across those uses. Maximum loan to value limits, pricing, reserves, and documentation can all differ by occupancy, transaction type, property type, and the agency guidelines that apply.

Your current loan does not have to be Conventional

Many borrowers refinance an existing FHA loan, or another loan type, into Conventional financing when they qualify. For FHA borrowers who have built equity, the comparison is often worth running because Conventional loans handle mortgage insurance differently. Eligibility is never automatic, and Conventional is not automatically better.

A refinance has to improve the whole picture

A lower rate alone does not make a refinance smart. Compare the rate, the payment, the term, the new balance, closing costs, mortgage insurance, any cash received, the equity you keep, total interest over time, and how long you expect to keep the property. If the complete picture does not improve, keep the mortgage you already have.

Conventional Refinance Review

First Question: What Are You Trying to Accomplish?

Path A is rate and term: reduce the rate, reduce the payment, shorten the term, move to a fixed rate, restructure mortgage insurance when your equity allows, or move from another loan type into Conventional financing. Path B is cash out: replace your mortgage while accessing eligible equity for renovations, debt consolidation, an investment, or another major goal. Either way, the new loan has to beat the one you already have, and that is what the review is for.

A phone review is not a loan application and is not a commitment to lend. Savings are never guaranteed and depend on your complete situation.

What to expect

  • Free and no obligation
  • No documents needed for the first conversation
  • A line by line old versus new comparison for each path
  • Clear numbers before you decide anything
Call 404.919.5533 Talk With A Loan Expert
  • Clear numbers before you decide
  • Honest answers, including when not to refinance
  • Atlanta based team serving property owners across Georgia

Who It May Fit

Owners Who Often Consider a Conventional Refinance

The common thread is simple: a property, a mortgage that could work harder, and a reason to believe the complete math might improve.

See where your refinance stands

  • Homeowners who want better terms on a primary residenceImproving the rate, the payment, the term, or the structure of the mortgage on the home you live in, or restructuring how mortgage insurance works as equity grows.
  • Homeowners ready to put equity to workMeaningful equity plus a planned goal, such as renovations or debt consolidation, can make a Conventional cash out refinance worth pricing.
  • Borrowers who may be ready to move out of FHAIf credit and equity have improved since you bought, comparing the complete cost of Conventional against your FHA loan, including mortgage insurance on both sides, is often worthwhile. Conventional is not automatically better.
  • Second home ownersEligible second homes, in the North Georgia mountains, at the lake, or on the coast, can be refinanced under the Conventional guidelines that apply to second homes.
  • Real estate investors with conventional qualificationA Conventional investment property refinance is underwritten on your full financial profile under agency rules. It is not the same as a DSCR loan, and it is often the benchmark worth checking first.
  • Borrowers with a strong Conventional profileCredit, income, assets, equity, and property that line up well with agency guidelines can open more refinance structures and, in some cases, better pricing.

Being in one of these groups does not guarantee eligibility or savings. Every refinance depends on the complete situation, the occupancy type, the transaction type, and applicable Fannie Mae or Freddie Mac requirements.

An Honest Look

When a Conventional Refinance May Not Be the Right Move

A refinance product existing is not a reason to use it. Here is when to pause.

  • The mortgage you already have is the better dealIf your current rate, payment, and remaining term are already strong, a new loan may improve nothing once costs are counted.
  • You plan to sell or move soonIf you leave before the savings recover the costs, the refinance can lose you money.
  • You want cash out without enough usable equityThe new loan must preserve a required equity cushion. If the equity is not there, a home equity line of credit, or waiting, may be the better conversation.
  • A government refinance program fits you betterAn existing FHA borrower who mainly wants a lower rate may be better served by an FHA Streamline. An eligible Veteran may have VA options worth comparing first.
  • You are an investor who does not fit Conventional underwritingIf agency income or property qualification does not fit your situation, a DSCR or other investor product may deserve a separate conversation rather than a forced application.
  • Restarting the clock would cost more than it savesReplacing a loan you have paid down for years with a new full term loan can raise total lifetime interest even at a lower rate.
The goal is not to refinance every mortgage. The goal is to compare your current loan against each realistic path honestly and only move forward when the numbers genuinely serve you.
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The Full Picture

Potential Benefits, Weighed Against Real Considerations

Potential Benefits

  • May lower your interest rate, depending on your current loan and the market
  • May lower your monthly principal and interest payment
  • Can restructure the term, including shortening it to reduce total interest
  • Can move an eligible FHA or other loan type into Conventional financing, which changes how mortgage insurance works for qualified borrowers
  • May remove or reduce monthly mortgage insurance when equity and eligibility permit
  • Cash out access to eligible equity for renovations, debt consolidation, or other planned goals
  • Options across qualifying primary residences, second homes, and investment properties, with flexibility between Fannie Mae and Freddie Mac eligible structures

Important Considerations

  • Closing costs apply, including Georgia recording costs, whether paid upfront or financed into the loan
  • Refinancing replaces your term, and a new full length term can increase total lifetime interest even at a lower rate
  • A cash out refinance increases your balance and reduces the equity you keep
  • Cash out transactions generally carry different pricing and stricter equity requirements than rate and term transactions
  • Second homes and investment properties involve generally stricter equity, pricing, reserve, and underwriting requirements that vary by transaction and agency
  • Conventional refinances are fully underwritten: income, assets, credit, and the property must qualify, and an appraisal may be required
  • Mortgage insurance generally applies when equity is below the applicable threshold, which affects the true monthly cost

This section is for education, not product promotion. Not every benefit applies to every borrower, property, or transaction, and refinancing may increase your total finance charges over the life of the loan.

The Heart of the Decision

Rate and Term Versus Cash Out

Before comparing lenders or rates, decide what the refinance is for. These two transactions look similar at closing but behave very differently in your finances. One terminology note: what borrowers call rate and term is classified by Fannie Mae as a limited cash out refinance and by Freddie Mac as a no cash out refinance. Same idea: improve the financing, not extract meaningful equity.

Primary purpose
Rate and term improves or restructures the financing itself: rate, payment, term, structure, or mortgage insurance. Cash out replaces the financing while converting part of your eligible equity into cash.
Cash at closing
Rate and term permits only a small amount of cash back under agency rules, generally limited to the greater of 1 percent of the new loan amount or $2,000. It is not an equity access tool. With cash out, cash from equity is the point of the transaction, within the equity the new loan must still preserve.
Equity generally needed
Rate and term is the more flexible of the two and can be available at higher loan to value ratios depending on occupancy, property, and agency requirements. Cash out is stricter: the new loan must leave a required equity cushion, and maximums tighten for second homes, investment properties, and multi unit properties.
Pricing and underwriting
All else equal, rate and term generally prices more favorably. Cash out generally prices higher and carries additional eligibility considerations, including ownership and seasoning requirements on the loan being replaced.
Effect of occupancy
Both transactions serve qualifying primary residences, second homes, and investment properties, but limits vary by occupancy and agency, and cash out tightens equity requirements and pricing more sharply on second homes and investment properties.
Long term effect
Done well, rate and term can lower total borrowing cost or fit the loan to your plans, though a term reset can still raise lifetime interest. Cash out trades equity for liquidity: the balance rises, the equity falls, and the cash must be worth that trade over your full ownership timeline.
Compare My Refinance Options Call 404.919.5533

Want to run rough numbers yourself first? Our refinance calculator compares a current loan to a new one on figures you enter. Keep in mind it does not capture the pricing differences between rate and term and cash out transactions. Your written review will.

Honest Math

The Numbers That Decide, for Any Property Type

A refinance is a financial transaction, not a rate. Here is the math that actually determines whether a Conventional refinance serves you.

Closing costs are real, including Georgia recording costs

Every Conventional refinance involves closing costs: lender fees, third party fees such as title and appraisal, prepaid interest, and escrow setup. In Georgia, most standard refinance loans are also subject to the state intangible recording tax, commonly calculated at $1.50 per $500 of the new loan amount, subject to a statutory cap and possible exemptions your closing attorney will confirm. Costs may be paid at closing, financed into the balance, or offset through an available lender credit structure in exchange for a higher rate. None of those choices makes the costs disappear. They just change where the costs live.

Mortgage insurance changes the true payment

On Conventional loans, private mortgage insurance generally applies when your equity is below the applicable threshold, and under federal law it can later be cancelled or terminated as the balance falls, without refinancing again. That is a structural difference from FHA, where annual mortgage insurance premiums often continue for many years or for the life of the loan depending on the original loan structure. FHA to Conventional comparisons, and any refinance aimed at removing mortgage insurance, must be run on the total monthly cost, not the rate.

Occupancy changes the numbers

A primary residence generally has the broadest Conventional refinance flexibility, subject to applicable requirements. Second homes are generally subject to tighter equity limits and different pricing. Investment properties add more: transaction type matters, the number of units matters, rental income treatment matters, reserve requirements may apply, and both maximum leverage and pricing differ from a primary residence, sometimes differently between Fannie Mae and Freddie Mac, which is one reason we check both agencies. None of these are single universal numbers. They depend on your specific transaction and current agency requirements.

The break even point

Divide the true cost of the refinance by the true monthly benefit and you get the number of months until the refinance pays for itself. If you plan to sell or pay off the loan before that point, the refinance can cost you more than it saves. For cash out, the test is different but just as concrete: is what the cash accomplishes worth the higher balance, the equity given up, and the total interest added over the life of the loan?

The term reset, and the balance increase

Replacing a loan you have been paying for years with a new full term loan restarts amortization, which can raise total lifetime interest even when the rate drops. A shorter new term can counter that. On cash out transactions, add the second effect: the new balance is larger than the old one, and the cash received accrues interest for the full remaining term. Both effects belong in the written comparison, in dollars.

Compare Your Paths

Conventional, Keep Your Current Loan, or a Government Refinance

Three legitimate directions. No path is best for everyone, and keeping the loan you have is sometimes the right answer.

Qualitative comparison of a Conventional refinance, keeping the current loan, and government refinance options
Criteria You Are Viewing This ProgramConventional Refinance Keep Your Current Loan Government Options: FHA, VA, USDA
Best suited for Borrowers whose credit, equity, income, and property fit agency guidelines, on a primary residence, eligible second home, or investment property Owners whose current rate, payment, and remaining term already serve them well Existing FHA borrowers, eligible Veterans and service members, and existing USDA borrowers whose program opens a better path
Cash from equity Available through a Conventional cash out refinance, within applicable equity limits by occupancy and property type None, but you keep every dollar of equity you have built Varies sharply by program. FHA cash out serves the home you occupy. VA cash out requires VA eligibility. Streamline programs are not equity access tools.
Occupancy coverage Primary residences, eligible second homes, and investment properties, with requirements that differ by occupancy Whatever your current loan covers Generally centered on the home the borrower occupies. Government programs do not serve second homes and investment properties the way Conventional financing can.
Typical process Full underwriting: income, assets, credit, and property, with an appraisal or, on some files, an automated appraisal alternative No process and no costs Streamline programs can involve reduced documentation for existing borrowers in those programs. Full government refinances are fully underwritten.
Primary advantage Flexibility: two transaction goals, three occupancy types, two agencies, and mortgage insurance that can be avoided, restructured, or later removed as equity allows Zero cost and zero risk of a bad trade For eligible borrowers, program benefits Conventional cannot replicate, including simplified paths and VA advantages for those who earned them
Potential tradeoff Closing costs, full qualification, and, on cash out, a larger balance and less equity Keeps a rate, payment, or structure that may cost you more than an available alternative Program eligibility limits, plus mortgage insurance or funding fee structures that must be compared honestly against Conventional costs
When another path may fit better The numbers do not beat your current loan, or a government program serves you better The old versus new math clearly favors refinancing You do not hold a qualifying loan or eligibility, or the complete Conventional math wins
Review My Conventional Refinance Sometimes the honest answer Explore VA IRRRL and other programs

Scroll the table sideways to compare all three paths.

Not sure which path fits your property? Talk With A Loan Expert

Your Path

How the Conventional Refinance Process Works

  1. Define the Goal and Review Your Current Loan

    What you want to accomplish, plus your balance, rate, remaining term, payment, mortgage insurance, and any second liens.

  2. Choose the Path: Rate and Term or Cash Out

    Your goal, your equity, and how you use the property determine which transaction fits and which rules apply.

  3. Review Eligibility Across Both Agencies

    We check your scenario against current Fannie Mae and Freddie Mac requirements and confirm how your loan amount fits conforming limits.

  4. Documentation and Property Valuation

    Income, asset, and property documentation for your situation. An appraisal may be ordered, or automated underwriting may offer an alternative.

  5. Underwriting, Then Final Numbers Side by Side

    Before closing you get the final comparison in writing: old loan versus new loan, all costs included, cash received if any, and the break even.

  6. Close Only If the Math Works, and Keep Paying

    If the numbers do not serve you, we say keep your loan. Either way, continue your current payments until your servicer confirms the payoff.

Be Prepared

Documents and Information You May Need

Conventional refinances are fully documented loans. The exact list depends on your transaction, your occupancy type, and what automated underwriting requires. None of it is needed to start the conversation.

  • Government issued photo identification
  • Your current mortgage statement, plus statements for any second mortgage or HELOC
  • Homeowners insurance information, with flood or condo details where applicable
  • Income documentation, such as recent pay stubs and W2s, or tax returns if self employed
  • Asset and reserve statements, which matter most on second home and investment files
  • Property information, such as HOA contacts or condo details where relevant
  • Lease agreements and rental income documentation where rental income applies
  • Additional items based on the automated underwriting findings for your file
See What Applies to Me

Real World Context

Three Common Owner Scenarios

Educational examples only. They show how the thinking works, not how any specific loan will be decided.

Educational Example 01

The Marietta Homeowner Still Paying Mortgage Insurance

The situation
A homeowner bought several years ago with a small down payment. Values have risen, the balance has been paid down, and the loan still carries monthly mortgage insurance on a rate higher than what may be available today.
Why a Conventional rate and term refinance may be considered
One transaction could potentially address both issues: a new rate, and a new loan structured without monthly mortgage insurance if the equity position qualifies. The payment improvement would come from two directions, not one.
What still needs review
The appraised value and true equity position, closing costs including Georgia recording costs against the monthly benefit, and the remaining term versus the new term in total interest dollars.
When keeping the current loan could fit better
If the appraisal comes in light or the rate improvement is thin, the break even may stretch past the time they plan to own the home. Federal law also allows mortgage insurance removal on the existing loan in some situations as balances fall, without refinancing at all, and we check that path first.

Educational Example 02

The Blue Ridge Second Home, and Two Ways to Refinance It

The situation
An Atlanta couple owns a second home in the North Georgia mountains with substantial equity. They are deciding between simply improving the rate on the cabin's mortgage or pulling cash out to renovate it.
Why a Conventional refinance may be considered
Conventional financing serves eligible second homes on both rate and term and cash out transactions, one of the places it clearly separates from most government programs, which center on the home the borrower occupies.
What still needs review
Second home transactions carry different equity limits and pricing than a primary residence, and cash out tightens both further. The couple needs the rate and term version, the cash out version, and a third option priced side by side: leaving the cabin's mortgage alone and funding the renovation another way, such as a HELOC on their primary residence.
When another path could fit better
If the cabin's current rate is strong, replacing the whole mortgage to extract renovation cash may cost more than a smaller second lien solution that leaves the good first mortgage in place. And if the equity math cannot produce the renovation budget within second home cash out limits, the honest answer is a different funding plan, not a stretched refinance.

Educational Example 03

The Decatur Investor Deciding What the Rental Should Do Next

The situation
A Georgia investor owns a leased single family rental in DeKalb County and wants to decide between improving the rate on the property's loan and pulling cash out toward the next acquisition.
Why a Conventional refinance may be considered
Conventional financing refinances eligible investment properties, generally at benchmark pricing worth checking before specialty products. Rental income can help qualify under agency rules, typically supported by leases, tax returns, and an appraisal rent analysis.
What still needs review
Investment files are where details matter most: transaction type, number of units, equity limits that are stricter than a primary residence and can differ between Fannie Mae and Freddie Mac, reserve requirements, rental income treatment, and how many financed properties the investor already holds.
When another path could fit better
If the existing loan carries a rate today's investment pricing cannot beat, the current loan stays. And if tax return income does not support Conventional qualification, a DSCR loan underwritten primarily on the property's rental income may deserve a separate conversation. That is a different product with different tradeoffs, not a fallback version of this one.
See Where My Refinance Stands

Your situation is its own scenario. Let us look at it together.

Protect Yourself

A Lower Rate Is Not the Whole Refinance. Read This First.

Refinance marketing is built to make one number look like the whole story. Before you respond to any offer, including anything from us, know what a complete refinance picture looks like and what an incomplete one is hiding.

Warning signs

  • An advertised rate with no mention of the balance, the term, the costs, or how long you will keep the property
  • No closing cost claims that never explain whether costs are financed into your balance or traded for a higher rate
  • Promises that you can skip mortgage payments
  • Pressure to take the maximum cash out, or debt consolidation pitches that ignore what happens when short term debts are stretched across a long mortgage term secured by your home
  • Guaranteed savings, guaranteed approval, or guaranteed payments before anyone has reviewed your actual loan
  • Official looking mailers that imitate your servicer or a government agency, with deadline pressure

What honest looks like

  • A written line by line comparison of your current loan and the proposed loan: balance, rate, term, payment, costs, mortgage insurance, and cash received
  • Every cost disclosed and located: paid at closing, financed into the balance, or offset by a rate credit, stated plainly
  • A break even calculation in writing, matched against how long you expect to keep the property
  • A willingness to tell you when keeping your current loan wins
  • Straight answers about what depends on underwriting and current agency guidelines, rather than promises made before the file exists

Local Guidance

Conventional Refinance Guidance for Georgia and Atlanta Metro Owners

Layer One: Georgia Statewide

Conforming loan limits work simply in Georgia

Fannie Mae and Freddie Mac guidelines are national, but conforming loan limits are applied county by county, and every Georgia county currently sits at the baseline limit of [CMS: current baseline conforming loan limit, 1 unit] for a single unit property. No Georgia county is designated high cost, so high balance conventional loans are generally not a Georgia category. A refinance above the applicable limit for your property's unit count is usually a jumbo conversation instead, and we tell you when your balance puts you near that line. Limits are updated by FHFA each year and maintained here at review.

Georgia's intangible recording tax belongs in your math

Georgia generally charges an intangible recording tax on new long term mortgage notes, commonly $1.50 per $500 of the new loan amount, subject to a statutory cap and certain exemptions. It is a real closing cost that many out of state rate quotes quietly omit. Your closing attorney calculates the exact figure, and we include an estimate in every written comparison.

Equity has been doing the quiet work

Many Georgia owners who bought years ago hold substantially more equity than they realize. Equity is what opens the doors on this page: mortgage insurance restructuring, cash out capacity, and better pricing tiers. Every review here starts with an honest look at value. Georgia's second home markets, from the mountains to the lakes to the coast, are also a place where Conventional financing does work most government programs do not.

Layer Two: Atlanta, Our Home Market

An Atlanta based team, reviewing Atlanta area refinances

UHome Mortgage is headquartered in Atlanta, and the metro is where our team reviews Conventional refinances every week. The metro's housing stock spans nearly every scenario on this page: single family homes, intown condos, and the 2 to 4 unit properties common in older Atlanta neighborhoods. Multi unit and condo refinances carry their own agency requirements, unit counts change the limits, and condo projects have eligibility reviews, so the property itself is part of the review from day one.

Metro Atlanta also remains one of the country's most active single family rental markets. For local investors, the Conventional investment refinance is often the pricing benchmark to check before specialty products, and the review should account for portfolio size, reserves, and rental income documentation from the start.

Atlanta Metro considerations

[CMS: Atlanta Metro content] Editable extension area for additional metro context UHome wants to publish over time, such as anonymized questions received from Metro Atlanta homeowners and investors.

Layer Three: County Resources

Metro Atlanta county guidance

UHome publishes county level guidance for the Metro Atlanta communities we serve. Property taxes, closing practices, and property types vary across the metro, and these pages cover what owners in each county tend to ask.

FultonDeKalbCobbGwinnett HenryDouglasPauldingCoweta

Good Questions

Conventional Refinance Questions, Answered Plainly

What is a Conventional refinance?

A Conventional refinance replaces your current mortgage with a new loan that is not insured or guaranteed by a government agency like FHA, VA, or USDA. Most Conventional refinances follow Fannie Mae or Freddie Mac guidelines. The transaction can be a rate and term refinance, which improves the loan itself, or a cash out refinance, which also converts part of your equity into cash.

What is the difference between a rate and term refinance and a cash out refinance?

A rate and term refinance restructures your existing financing: a new rate, a new term, or a new structure, with only a small amount of cash back permitted. A cash out refinance replaces your loan with a larger one and pays you the difference from your eligible equity. Cash out transactions generally carry different pricing, stricter equity requirements, and additional eligibility rules.

Why does Fannie Mae call a rate and term refinance a limited cash out refinance?

It is the agency's technical classification for the same transaction. Fannie Mae calls it a limited cash out refinance because a small amount of incidental cash back is permitted, and Freddie Mac calls the equivalent a no cash out refinance. When you see those terms in paperwork, they generally refer to what borrowers call a rate and term refinance, not to a cash out loan.

Can I refinance an FHA or VA loan into a Conventional loan?

Often, yes, subject to qualifying. Borrowers commonly evaluate this when their equity and credit have improved, partly because of how FHA mortgage insurance premiums work compared with Conventional mortgage insurance. But it is not automatically an upgrade. VA borrowers should compare VA refinance options first, and FHA borrowers seeking only a rate improvement should weigh the FHA Streamline. We run the complete comparison before recommending a switch.

How much equity do I need for a Conventional refinance?

It depends on the transaction and the property. Rate and term refinances can be available at comparatively high loan to value ratios on a primary residence. Cash out refinances require you to leave a larger equity cushion. Second homes, investment properties, and 2 to 4 unit properties have stricter limits that can also differ between Fannie Mae and Freddie Mac. Rather than publishing a single number that may not apply to you, we confirm your specific maximum against current agency requirements during the review.

Can I refinance a second home or an investment property with a Conventional loan?

Yes. Conventional financing serves eligible second homes and investment properties for both rate and term and cash out transactions. Requirements are generally stricter than for a primary residence: lower maximum loan to value limits, different pricing, possible reserve requirements, and rental income documentation for rentals. A Conventional investment refinance is also not the same product as a DSCR loan, which qualifies primarily on property cash flow.

Will I need an appraisal?

Frequently, but not always. Both agencies' automated underwriting systems can offer appraisal alternatives on eligible transactions: Fannie Mae calls its program value acceptance, and Freddie Mac's is called ACE. Eligibility is determined by the automated findings for your specific file and is never guaranteed in advance, so plan on an appraisal and treat a waiver as good news.

Can refinancing remove my mortgage insurance?

It can, in two directions. Refinancing an FHA loan into Conventional financing can eliminate FHA mortgage insurance premiums for qualified borrowers with sufficient equity. And on an existing Conventional loan, private mortgage insurance can often be cancelled or terminated as your balance falls, under federal law, sometimes without refinancing at all. If mortgage insurance removal is your only goal, we check the no refinance path first, honestly.

Does refinancing restart my mortgage?

It replaces your current loan with a new one, and if you choose a new full length term, amortization starts over, which can increase total lifetime interest even at a lower rate. That is not automatically bad, but it must be measured. Choosing a shorter new term, or comparing total remaining interest on both loans in dollars, keeps the decision honest.

How do I know whether refinancing actually saves money?

Compare complete pictures, not rates: current balance versus new balance, current rate versus new rate, remaining term versus new term, all closing costs, mortgage insurance on both sides, any cash received, the equity you keep, and how long you expect to own the property. Then check the break even point. If the complete picture does not improve, keep the mortgage you have. That is the whole method, and we put it in writing.

Still have a question? Call 404.919.5533 or Talk With A Loan Expert.

Sources

Guideline Sensitive Information on This Page Is Checked Against These Sources

Sources and References

Reviewed by Coby Pegues, Founder and President, UHome Mortgage LLC, NMLS 2556341. Last reviewed August 2026.

Keep Learning

Refinance Your Home VA IRRRL Refinance Conventional Loans HELOC vs Cash Out Refinance FHA Loan vs Conventional Loan DSCR vs Conventional Investment Loan Home Equity Line of Credit Refinance Calculator

Your Next Step

Let's Find the Smartest Refinance Path for Your Property

Rate and term or cash out. Primary residence, second home, or investment property. Conventional, a government alternative, or the mortgage you already have. The right answer is the one the complete numbers support, and that is the answer we will give you.

Review My Refinance Options Talk With A Loan Expert Call 404.919.5533
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  • Clear next steps
  • The comparison explained before you proceed

Disclosures

General mortgage disclosure

[CMS: General disclosure] This page is for educational purposes and is not a commitment to lend, a loan approval, or a rate quote. Program requirements may vary. Eligibility depends on the complete borrower profile and applicable Fannie Mae, Freddie Mac, lender, and investor requirements, which are subject to change without notice. Examples are illustrative only and do not represent actual customers or a promise of savings. Refinancing may increase the total finance charges paid over the life of the loan.

Conventional refinance program disclosure

[CMS: Program disclosure] Conventional loan eligibility, maximum loan to value ratios, pricing, reserve requirements, mortgage insurance requirements, and permitted cash back vary by transaction type, occupancy, property type, number of units, credit profile, and applicable agency requirements in effect at the time of application. Cash out refinancing increases your loan balance and reduces your equity. Investment property loans involve additional underwriting requirements. Mortgage insurance, when required, increases the monthly cost of the loan. Savings are not guaranteed. Continue making payments on your current mortgage until you receive confirmed instructions from your servicer.

Government program references

[CMS: Government references] FHA, VA, and USDA refinance programs referenced on this page are separate loan programs with their own eligibility requirements and are not Conventional loan products. UHome Mortgage LLC is not affiliated with, endorsed by, or acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, the U.S. Department of Veterans Affairs, the U.S. Department of Agriculture, or any government agency.

Licensing information

Coby Pegues, NMLS #2556341 · UHome Mortgage LLC, Company NMLS #2559453

[CMS: State licensing] Licensed in Georgia, Alabama, and Texas. State licensing details placeholder.

Equal Housing Opportunity

[CMS: EHO statement] Equal Housing Opportunity. Placeholder for the Equal Housing statement and logo placement.

Additional program disclosures

[CMS: Additional disclosures] Repeatable disclosure blocks may be added per loan program without editing the template.

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