Lower Your Rate.
Free Up Your
Cash Flow.
Refinancing can reduce your monthly payment, eliminate high-interest debt, or shorten your loan term — sometimes all three at once. Let's find your best move.
Your Mortgage Isn't
Set in Stone
A mortgage refinance replaces your existing home loan with a new one — ideally at a lower interest rate, a better term, or structured to put cash in your hands. It's one of the most powerful financial tools available to homeowners.
Whether you locked in a high rate a few years ago, you're carrying expensive credit card balances, or you simply want to stop paying PMI — refinancing with the right strategy can transform your financial picture for years to come.
Stevenson Bruno works with homeowners across Georgia to analyze current rates, model out break-even timelines, and match each client with the refinance program that makes the most financial sense for their situation.
Why Homeowners Refinance
There's no single right reason — but all good refinances share one thing: a clear financial benefit that outweighs the cost.
Three Ways to Refinance
Your Home Loan
Rate & Term Refinance
Replace your existing mortgage with a new one at a lower interest rate, a shorter term, or both — without changing your loan balance. Ideal when rates have dropped or your credit score has improved since you first borrowed.
Cash-Out Refinance
Borrow more than you owe and receive the difference as cash at closing. Use it to fund renovations, pay off high-interest debt, cover tuition, or invest — all at mortgage rates far below credit cards or personal loans.
Streamline Refinance
FHA and VA borrowers can refinance with reduced documentation, no full appraisal required in most cases, and a faster close. Designed to make it easy for existing government-backed borrowers to capture a better rate.
Avg. Credit Card APR
The national average credit card rate — compared to significantly lower fixed mortgage rates available through a cash-out refinance.
Simplified to One Payment
A debt consolidation refinance replaces multiple high-rate balances with a single, predictable mortgage payment each month.
Potential Interest Savings
Homeowners who consolidate $30–50K in revolving debt into a cash-out refi can save tens of thousands in interest over a decade.
Which Refinance Is
Right for You?
Lower Your Rate or Term
Best for homeowners who want to reduce their payment or shorten their loan without pulling cash out. Great if your credit has improved or rates have dropped since your original closing.
Access Your Home Equity
Best for homeowners with significant equity who want to eliminate high-interest debt, fund a renovation, or cover major expenses at a lower rate than any other borrowing option.
Fast-Track for FHA Borrowers
Existing FHA loan holders can often refinance with no full appraisal, reduced documentation, and simplified underwriting — making it one of the fastest paths to a lower rate.
VA Interest Rate Reduction
Veterans and active-duty service members with an existing VA loan can reduce their rate with minimal paperwork, no appraisal, and no out-of-pocket costs in most cases.
Do You Qualify to
Refinance?
General Requirements
Break-Even Analysis
Before refinancing, calculate your break-even point — the month when cumulative monthly savings exceed what you paid in closing costs.
Quick Break-Even Formula
Closing Costs ÷ Monthly Savings = Break-Even Month
Not sure where you stand? Stevenson will run a full break-even and savings analysis at no cost. There's no obligation — just a clear picture of what refinancing could mean for your finances.
Refinance vs. Keeping
High-Interest Debt
Assume a homeowner with $40,000 in credit card debt and a $320,000 remaining mortgage balance. See how a cash-out refinance compares to keeping the debt as-is over 5 years.
| Factor | Keep Debt Separate | Cash-Out Refi + Consolidate |
|---|---|---|
| Credit Card APR | ~22% avg. | Eliminated |
| Monthly Credit Card Min. | ~$800–$1,000/mo | $0 (rolled in) |
| Total Monthly Obligation | Higher (two payments) | One payment, often less |
| 5-Year Interest on $40K | $40,000+ | $10,000–$15,000 (mortgage rate) |
| Estimated 5-Year Savings | — | $25,000–$30,000 |
| Credit Score Impact | High utilization = lower score | Lower utilization = score boost |
| PMI Elimination | No | Possible if LTV improves |
* Figures are illustrative estimates based on average market data. Individual results vary based on credit score, home value, rate environment, and loan terms. Not a commitment to lend.
Refinance in 4 Simple Steps
Strategy Review
We pull your current loan details, credit, and equity position to model out your best refinance path — rate/term, cash-out, or streamline — with real numbers and a clear savings projection.
Application & Docs
Apply online through our secure portal. Submit income docs, a photo ID, and mortgage statements. Most of the process is digital and takes under an hour to complete.
Appraisal & Approval
Your home is appraised to confirm current market value. Our underwriting team reviews and approves your file — streamline programs often eliminate the appraisal entirely.
Sign & Save
Sign closing docs at a title company or via remote online notary. Your new loan takes effect immediately. Cash-out funds arrive 3 business days after closing.
Refinance Questions,
Answered Honestly
When does it make sense to refinance my mortgage?
Refinancing generally makes sense when current rates are at least 0.5–1% lower than your existing rate and you plan to stay in the home long enough to recoup closing costs. That break-even point typically falls within 18–36 months. It also makes strong financial sense when high-interest debt — credit cards at 20%+ — can be eliminated through a cash-out refinance at a much lower mortgage rate, regardless of whether rates have moved.
What is a cash-out refinance and how does it work?
A cash-out refinance replaces your existing mortgage with a new, larger loan. The difference between your old balance and the new loan amount is paid out as cash at closing. For example: if your home is worth $400,000, you owe $250,000, and you cash out $50,000 — your new loan is $300,000. You receive $50,000 after closing costs, which can be used to pay off debt, renovate, or cover any major expense.
How much does it cost to refinance a mortgage?
Refinance closing costs typically range from 2–5% of the loan amount, covering lender origination fees, appraisal, title insurance, recording fees, and prepaid items like taxes and insurance. Some lenders offer no-closing-cost refinances where costs are wrapped into the rate or loan balance. Stevenson will provide a full itemized cost breakdown before you commit to anything.
Can I refinance to eliminate PMI?
Yes. If your home has appreciated significantly and your loan balance is now below 80% of its current value, a refinance can eliminate Private Mortgage Insurance (PMI) — which typically saves $100–$300 per month on its own. This is especially common for homeowners who purchased during a period of strong appreciation in Georgia markets.
How long does a refinance take to close?
Most refinances close in 21–45 days depending on loan type, appraisal timing, and document turnaround. FHA Streamline and VA IRRRL refinances can close in as little as 14–21 days because they reduce or eliminate the appraisal requirement. Having your documents organized upfront is the single biggest factor in a faster close.
You May Be Paying More
Than You Have To.
A free 15-minute rate review could hundreds in monthly savings, a faster payoff timeline, or a path to eliminating high-interest debt. Stevenson serves homeowners across Georgia with no-pressure guidance and real options.