Service
Refinancing
Put your home's equity to work, consolidate expensive debt or restructure your mortgage to match where life is now.
Overview
Refinancing replaces your current mortgage with a new one, often with a different lender. Done well, it can lower your overall interest cost, free up cash flow or fund a major project. Done poorly, it can cost you in penalties and fees. Cody runs the real numbers so you can see whether it makes sense before you commit.
Who this is for
- Homeowners consolidating credit cards, lines of credit or car loans
- Families funding a renovation, education or an investment property
- Owners who want to switch from variable to fixed, or the reverse
- Anyone whose mortgage no longer fits their income or goals
- Separating couples who need to restructure ownership
How it works
Review your current mortgage
Cody calculates your payout penalty, available equity and what a new mortgage would look like across lenders.
Choose the structure
Straight refinance, a home equity line of credit or a combination. You'll see the monthly and lifetime cost of each.
Fund and pay out
The new lender pays off your existing mortgage and any debts you're consolidating. You start fresh with one payment.
Common questions
How much can I borrow?
Most lenders allow you to refinance up to 80% of your home's appraised value, less what you currently owe. Cody will confirm your available equity and what you qualify for based on income.
Are there penalties for breaking my mortgage?
Usually, yes. The penalty depends on your lender and whether your rate is fixed or variable. Cody will calculate it up front and show you whether the savings outweigh the cost.
Will refinancing extend my amortization?
It can, but it doesn't have to. You can choose an amortization that keeps your payoff date or shortens it.
Ready to talk about your mortgage?
Book a free, no-pressure call. Cody will walk you through your options and what to expect, in plain language.