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Love your home? Refinance and move into a new mortgage.

Refinance your current loan to get cash outDisclosure 1 , change your rate, or pay it off sooner.

Refinance now Start a conversation

Talk to a mortgage professional now at 844-454-1930.

There are plenty of reasons to refinance.

More money at month's end.

Have interest rates dropped since you bought your home? So could your monthly payment by refinancing.

Get cash outDisclosure 1 .

When you need to finance a big goal, your home’s equity is ready to help.

Make your payment predictable.

Rates can go up, too. Keep your payment where you want it by refinancing from an adjustable rate to a fixed rate.

Own your home faster.

Refinancing can help you shorten your payment plan (and pay less interest too).

Check rates to see a mortgage rate that is right for you.

Not ready to refinance? Try this instead.

It’s not always the right time to refinance.

Don’t let that get in the way of your plans. Let your home lend a hand—without changing your mortgage. A home equity line of credit (HELOC) might be just the ticket. Find out by talking to a loan professional in your neighborhood or reading up on the benefits of a HELOC.

Talk to a professional to learn if it is the right time to refinance.
Learn about HELOC

Frequently asked questions about refinancing a mortgage

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Yes, but you may not have to pay them at closing. A no-cost refinance can roll your closing costs into your new loan.Disclosure 2 You could also purchase lender credits, which can offset some or all your closing costs in exchange for a higher interest rate. Ask your loan professional for the specifics of these options.

You apply for a new mortgage with new terms (just at a higher loan amount) to pay off your existing mortgage, then receive cash for the difference after closing expenses. You’ll still have the ease of just one monthly mortgage payment. If interest rates have gone down since you initially purchased your home, you may even lower your interest rate.

We can’t always say for sure because the credit reporting agencies (CRAs) develop and calculate their own proprietary credit scores that they then pass along to lenders. However, generally, a refinance application causes your lender to make a hard inquiry at the CRAs to request information about your credit report and history. These hard inquiries can typically cause a temporary drop in your credit score. Your score can also take a hit when you close your old mortgage as it impacts the mix of accounts that the CRAs consider when they calculate your credit score. As you pay off your new (refinanced) loan, your score can go back up assuming you suffer no other adverse impacts to your credit and you responsibly use your existing accounts (e.g., pay your monthly minimum payments for bills/loans on time). Please reach out to credit agencies if you have any questions or if you need more information.

Most refinances close 45–60 days after you apply.

Yes, your loan officer can lock your rate if you close within a set period of time and there aren't any changes on your application. If you apply online, you can request a rate lock once your loan officer contacts you. Rate locks are available for up to 90 days.

For a cash-out refinance, you'll need to wait until you have at least 20% equity in your home.

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Disclosure 1 Availability and cash-out amount are both subject to loan-to-value ratio requirements.

Disclosure 2 Mortgage rates and APR examples are representative of products available through Truist Bank. In addition to discount points provided, the APR also includes an average of costs a borrower would pay for tax service, flood hazard determination, and closing-related services, as permitted by regulation and law. Other charges may include, as applicable to the loan program and permitted by regulations, those for appraisals, credit reports, title insurance, and other miscellaneous costs. We will be happy to provide specific information on your transaction upon request. The following Annual Percentage Rate (“APR”) examples are for a typical transaction and are only examples. Please call (877) 907-1043, email us, or find a loan officer serving your community to learn more about a specific APR for your transaction. Monthly payments are shown as principal and interest only and do not include PMI, taxes, insurance, or other applicable escrows. Actual payment obligation will be greater.

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Services provided by Truist Financial Corporation (Truist) affiliates: Banking products and services, including loans and deposit accounts, provided by Truist Bank, Member FDIC. Trust and investment management services provided by Truist Bank. Securities, brokerage accounts and /or annuities offered by Truist Investment Services, Inc., an SEC registered broker-dealer, and member FINRA and SIPC, and a licensed insurance agency. Investment advisory services offered by Truist Advisory Services, Inc. and GFO Advisory Services, LLC, SEC registered investment advisers. Some insurance products offered by Truist Investment Services, Inc. Other insurance products offered by McGriff Insurance Services, LLC (McGriff), Kensington Vanguard National Land Services, LLC (Kensington Vanguard) and Crump Life Insurance Services, LLC (Crump). Truist Life Insurance Services (TLIS) is a division of Crump, Arkansas License #100103477. Variable insurance material is for broker-dealer or registered representative use only. Variable products distributed by P.J. Robb Variable (PJRV), LLC, Arkansas License #100110185. Member FINRA.

McGriff, Kensington Vanguard, Crump, TLIS, and PJRV are not affiliated with Truist Financial Corporation or any of its subsidiaries.

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Applications, agreements, disclosures, and other servicing communications provided by Truist Bank and its subsidiary businesses will be provided in English. As a result, it will be necessary for customers to speak, read and understand English or to have an appropriate translator assisting them. Please note that Truist provides translations of webpages, documents and disclosures as a courtesy and in the event of any inconsistencies or discrepancies between the English content and the translated content, the English content supersedes the translation. Truist offers phone support in Spanish at 844-4TRUIST (844-487-8478), option 9. For assistance in other languages, please speak to a representative directly.

New York City residents:

Translation or other language access services may be available. When calling our office regarding collection activity, if you speak a language other than English and need verbal translation services, be sure to inform the representative. A description and translation of commonly-used debt collection terms is available in multiple languages at http://www.nyc.gov/dca.

Borrowers with Limited English Proficiency (LEP) needing information can use the following resources:

The Consumer Finance Protection Bureau (CFPB) also provides additional resources for homeowners seeking payment assistance in select languages at: https://www.consumerfinance.gov/housing/housing-insecurity/help-for-homeowners/

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