Refinance.
Pay less.
Lower your monthly payment, cash out your equity, pay off your home faster, or consolidate higher-interest debt. One conversation with a real loan officer — not a bot — and a soft credit pull tells you exactly what's possible.
Pick a refinance path.
One click drops you straight to a real loan officer who structures the right deal for your situation.
Why borrowers refi
with OptionOne.
Direct lender, in-house underwriting, no broker handoffs — the deal you start with is the deal you close.
Avg. savings
From rate-and-term refi
Avg. close
Soft-pull pre-qual to close
To start
Free, soft credit check
Refi paths
Rate, cash-out, term
Three ways to refinance.
Match the right structure to your goal. We will walk you through which one fits.
Rate & Term Refinance
The classic refi. Swap your existing loan for one with a better rate, a different term, or both. Lower payment, faster payoff, or both at once.
Cash-Out Refinance
Borrow more than you currently owe and take the difference as cash. Renovate, invest, consolidate — equity working for you.
Streamline Refinance
FHA Streamline and VA IRRRL programs let existing FHA/VA borrowers refi with minimal paperwork — often no appraisal or income verification.
Refi-eligible programs.
Most of our loan programs are also available for refinance. Here is what most borrowers use.
Three steps. That's it.
Most refis are pre-qualified the same day. The rest is paperwork we handle for you.
Tell us about your loan.
Current rate, balance, home value, goal. Four quick questions and a soft credit pull. Real numbers, no teaser rates.
We compare every option.
A real loan officer runs the math on rate-and-term, cash-out, and streamline paths. You see the trade-offs side by side, with closing costs and break-even points.
You sign. You save.
In-house underwriting and direct funding. No third-party delays, no surprises at the closing table. Most refis close in 14 days.
Rates drop?
We’ll tell you.
Set a target rate and we’ll watch the market for you. The moment your refi math makes sense, we'll text you with the exact savings number — not a generic marketing blast.
- Set your target rate — we monitor daily
- Personalized text the moment your refi math works
- Live numbers on payment, lifetime savings, break-even
- No spam — you decide when to engage
Two refis. Two strategies.
Same property, different goals. Here’s how to pick.
Rate & Term Refinance
- Goal: Lower payment, faster payoff, or both
- Borrow only what you owe today
- Often best when rates drop 0.75%+ from yours
- Typical break-even: 24–36 months
- Smallest closing costs of all refi types
Cash-Out Refinance
- Goal: Get cash for renovation, debt, or investment
- Borrow more than you owe; receive the difference
- Best when equity is significant and rates support
- Rate may be slightly higher than rate-and-term
- Cash is yours; mortgage is the new monthly
Frequently asked questions.
Generally, when you can drop your rate by 0.75% or more, or when you need cash from equity, or when your loan term no longer fits your goals (e.g., switching from 30 to 15 years). A loan officer can run the break-even math in minutes to tell you if it works for your specific loan.
It depends on your current rate, balance, and the new rate. Our average customer saves $427/mo on a rate-and-term refi. We’ll send you live numbers based on your exact loan after a soft credit pull — no impact to your score.
A rate-and-term refinance replaces your loan with a new one for the same balance — the goal is to lower your rate, change your term, or both. A cash-out refinance replaces your loan with one for a higher balance — you receive the difference in cash at closing.
Most rate-and-term refis close in about 14 days. Cash-out and jumbo refis can take longer (3–4 weeks). VA IRRRL and FHA Streamline are often the fastest — sometimes no appraisal required.
Usually yes for cash-out and conventional rate-and-term. FHA Streamline and VA IRRRL often skip the appraisal. Investor (DSCR) refis require an appraisal to verify rental income. We’ll tell you upfront before any costs are incurred.
Typical closing costs are 2%–5% of the loan amount — appraisal, title, escrow, lender fees, and recording. We can sometimes roll closing costs into the new loan, or apply a credit toward closing in exchange for a slightly higher rate. We’ll quote it both ways so you can pick.
Yes — this is where OptionOne shines. Our Bank Statement and P&L Only programs let self-employed borrowers refinance without tax returns. Asset Utilization is available for retirees and high-net-worth borrowers. DSCR refi is available for investors qualifying on rental income.
If you have a low rate on your current mortgage you want to keep, consider a HELOC or Second Mortgage instead — both leave your first mortgage alone and let you tap equity separately. We’ll compare the math both ways before you decide.
Ready to refi?
Get started in 2 minutes.
Soft credit pull only. Real numbers, real loan officer, real savings. No bots.