Current Mortgage Refinance Rates in Nevada Today
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Compare mortgage refinance rates in Nevada.
Key Points
• Mortgage refinance rates in Nevada are influenced by economic factors such as the bond market and housing inventory.
• Even a 1% drop in the mortgage refinance rate can trim monthly payments and save a significant sum in the long run.
• Even a 1% drop in the mortgage refinance rate can trim monthly payments and save a significant sum in the long run.
• In Nevada, homeowners have a variety of mortgage refi options to choose from: conventional, 15-year, adjustable-rate, cash-out, FHA, and VA mortgages, each with their own set of perks and things to consider.
• To lock in the best Nevada mortgage refinance rates, it helps to have a good credit score and low debt-to-income ratio.
• Closing costs for refinancing generally fall between 2% and 5% of the loan amount.
Introduction to Mortgage Refinance Rates
Taking out a mortgage refinance loan means you’re getting a new mortgage to replace your old one, and that means a new set of terms and a new interest rate that’s based on current mortgage rates. Whether you’re looking to lower your monthly payments, shorten your loan term, or cash out some home equity, it’s important to understand how mortgage refinance rates work and how to get the best one. This guide is here to help. The first step is understanding what drives the ups and downs of mortgage refinance rates in Nevada.
💡 Quick Tip: How soon can you refinance your mortgage? It varies by loan type, but typical waiting periods are 6 to 12 months.
Where Do Refi Interest Rates Come From?
The refinance rate you’ll be offered on your new home loan is a product of a complex interplay between the nation’s economic landscape, your area’s housing market, and your personal financial picture. Economic factors, and especially the price of the 10-year Treasury Note, can often signal what direction mortgage rates are headed. When the rates on the T note rise, mortgage interest rates tend to rise too.
When the market cools and more homes are available than there are buyers, lenders may lower rates to keep attracting customers. Then there is the overall economy: A strong jobs market and economic growth can lead interest rates to rise, while a recession usually means lower interest rates.
How Interest Rates Affect Home Affordability
It’s no secret that interest rates play a major role in the affordability of your mortgage refinance. Your monthly payment is a product of your loan amount, the term over which you repay it, and the mortgage refinance rate.
Let’s break it down: A $300,000 refinance loan with a 6.00% rate and a 30-year repayment term would mean a $1,799 monthly payment. But if that rate were to jump to 7.00%, you’d be looking at a $1,996 monthly payment. Over the life of the loan, that’s more than $60,000 in potential savings. If you can afford the larger monthly payments that come with a shorter payment term (as shown below), you can trim your interest costs even more.
| Interest Rate | Loan Term | Monthly Payment | Total Interest |
|---|---|---|---|
| 6.00% | 30-year | $1,799 | $347,515 |
| 6.00% | 15-year | $2,532 | $155,683 |
| 7.00% | 30-year | $1,996 | $418,527 |
| 7.00% | 15-year | $2,697 | $185,367 |
Why Refinance in Nevada?
Refinancing your mortgage can be a smart money move, but it requires careful thought. If current rates are lower than the one you locked in, it might be a good time to refinance. But there are other motivations to refinance as well.
Common Reasons to Refinance a Mortgage
• You qualify for a lower mortgage refinance rate because of an improved credit score.
• You want to adjust your repayment term to pay off your loan more swiftly, or reduce your monthly payments and stretch out the time you have to pay off your loan.
• You’re looking to tap into your home equity for big bills such as those associated with education or home improvements.
• Your adjustable-rate mortgage is about to change, and you want a fixed-rate loan.
• You have an FHA loan (backed by the Federal Housing Administration) and 20% equity in your home, and you want to stop paying the FHA mortgage insurance premium.
• You need to remove a cosigner from the loan (although it is sometimes possible to do this without refinancing).
How to Get the Best Available Mortgage Refi Rate
Even if you’re just starting to think about how to refinance a mortgage, there are steps you should take immediately that could help you secure a competitive mortgage refinance rate in Nevada:
• Maintain a good credit score by being punctual with payments and steering clear of new debt.
• Aim to keep your debt-to-income (DTI) ratio under 36%. (Your DTI is your monthly debts, divided by your gross monthly income, multiplied by 100).
• Examine whether you have some cash on hand that you could use to buy discount points to lower your rate. Each point typically costs 1% of your principal amount.
• Look closely at your monthly budget to see if you might have the ability to cover the cost of a higher monthly payment, in which case you might choose a shorter mortgage term. (Remember, though the payment may be higher with a shorter term, you would pay less interest over the long haul.)
Understand Trends in Nevada Mortgage Interest Rates
If you’re waiting for an interst rate drop before refinancing, having a sense of the trends in mortgage interest in your home state may help you decide whether or not to refinance or continue to wait it out.
Historical U.S. Mortgage Interest Rates
The graph below showing mortgage rates over a long span of time — more than 50 years — will give you a sense of what might be realistic in terms of your expectations. In early 2021, the average 30-year fixed refinance rate hit a record low of 3.15%. By 2023, the rate had risen to 7.00%. By keeping an eye on market forces, you can make an informed decision about when to refinance your mortgage.
Historical Interest Rates in Nevada
Mortgage refinance rates in Nevada tend to follow national trends, and are often slightly above the national average as shown in the chart below. (The Federal Housing Finance Agency stopped tracking state rates after 2018.) As you can see, it’s unusual for the average rate to change by more than a percentage point from year to year.
| Year | Nevada Rate | National Rate |
|---|---|---|
| 2000 | 7.99 | 8.14 |
| 2001 | 6.98 | 7.03 |
| 2002 | 6.44 | 6.62 |
| 2003 | 5.74 | 5.83 |
| 2004 | 5.66 | 5.95 |
| 2005 | 5.82 | 6.00 |
| 2006 | 6.56 | 6.60 |
| 2007 | 6.51 | 6.44 |
| 2008 | 6.09 | 6.09 |
| 2009 | 5.19 | 5.06 |
| 2010 | 4.93 | 4.84 |
| 2011 | 4.75 | 4.66 |
| 2012 | 3.90 | 3.74 |
| 2013 | 3.97 | 3.92 |
| 2014 | 4.32 | 4.24 |
| 2015 | 4.00 | 3.91 |
| 2016 | 3.83 | 3.72 |
| 2017 | 4.15 | 4.03 |
| 2018 | 4.70 | 4.57 |
Choose the Right Mortgage Refi Type
Knowing what qualifies as a “good” rate is part of your refinance equation. But refinance rates in Nevada differ based on the type of refinance you’re considering, so it’s helpful to understand the more common kinds of refinancing. Each option has its own unique features and advantages:
Conventional Refi
A conventional refinance, also known as a rate-and-term refi, is a popular choice for homeowners seeking to adjust their interest rate, loan term, or both. Typically, these refis come with slightly higher mortgage refinance rates than government-backed loans. Nevertheless, they offer increased flexibility and are a great fit for homeowners with strong credit and ample equity. Two common forms of refinancing a conventional loan are the 15-year refi and the adjustable-rate refi.
15-Year Mortgage Refi
As noted above, by refinancing to a 15-year mortgage, you could be looking at a substantial cut in the total interest paid over the loan’s lifetime, although you may have higher monthly payments. Some people refinance into a shorter loan term because they want to finish paying their mortgage before a child goes to college or before they face retirement. Of course, other borrowers prefer to refinance into a 30-year loan because they want to stretch out their payments and keep them low.
Adjustable-Rate Mortgage Refi
Adjustable-rate mortgages (ARMs) often start with a lower interest rate than fixed-rate loans, so some borrowers like the idea of getting into an ARM. If you know you’re going to move before the ARM’s low introductory rate changes, you might consider refinancing from a traditional 30-year fixed-rate mortgage to an ARM. (It’s also possible that a homeowner wants to refinance out of an ARM and into a fixed-rate loan because a more predictable, constant rate is desirable.)
Cash-Out Refi
A cash-out refinance is a way to leverage the equity you have in your home to access a lump sum that can be used for home improvements, debt consolidation, or any purpose. Although the rate for this type of refinance is typically a tad higher than the one for a traditional refinance, it will very likely be lower than the interest rate on a personal loan.
FHA Refi
Borrowers with an FHA loan, insured by the Federal Housing Administration, benefit from refi rates that are lower than the refi rate for a conventional loan. Homeowners who currently have an FHA loan can use an FHA Simple Refinance or FHA Streamline Refinance. Homeowners without a FHA loan can still benefit from an FHA cash-out refinance or FHA 203(k) refinance, which can be used for home improvements.
VA Refi
U.S. Department of Veterans Affairs loans are known for their competitive mortgage refinance rates. To qualify for a VA loan refinance, specifically an interest rate reduction refinance loan (IRRRL), you must have an existing VA loan. This type of refinance can significantly lower your monthly payments and save you a lot of money on interest over the life of the loan.
Compare Mortgage Refi Interest Rates
To compare mortgage refinance rates, it pays to shop around and check what rate you are offered by multiple lenders. Don’t just make your choice based on interest rate: Consider the annual percentage rate (APR) and trade-offs between rates and fees.
Evaluate the new payoff date, closing costs, and daily rate changes to secure a favorable rate. Note that some lenders will offer a no-closing-cost refinance, but costs may be rolled into the principal on your loan or reflected in a higher interest rate. An online calculator will help you see how different loans might fit into your budget.
Use an Online Refinance Calculator
An online refinance calculator is incredibly useful when you want to get a detailed look at what your new monthly payments might be. You’ll want to get a picture of the total mortgage refinancing costs, not only the interest you’ll pay on your loan. They are designed to help you compare different refinance options side by side, so you can make the best financial decision for your long-term goals. By entering your current loan details and looking at different refinance terms, you can see how much you might save on interest and monthly payments. This can help you make a more informed decision about what might work best for your financial situation.
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The Takeaway
Refinancing your mortgage can be a savvy financial move that offers a range of potential benefits, from lowering the monthly cost of your loan to freeing up extra cash. But before you take the plunge, it’s important to weigh the costs and potential long-term effects. Spend some time thinking about your financial goals, shop around for the best rates and terms, and use an online calculator to see if refinancing makes sense for you.
SoFi can help you save money when you refinance your mortgage. Plus, we make sure the process is as stress-free and transparent as possible. SoFi offers competitive fixed rates on a traditional mortgage refinance or cash-out refinance.
A mortgage refinance could be a game changer for your finances.
FAQ
Are refinance rates expected to go down?
The future of mortgage refinance rates is never certain. But you can look at key indicators to try to get a sense of where rates might be headed. If the 10-year Treasury Note rate is rising, the housing market is hot, or the economy is generally strong, it’s unlikely that you will see rates falling in the near term. You’ll need to weigh your desire for a refinance against the current rates and also look at whether a switch either results in lower monthly payments, less interest paid overall, cash out that you can use for a big expense, or some combination of these.
Can you refinance when rates go down?
When mortgage refinance rates drop, you can take advantage of the lower rate. But you should also consider the costs associated with refinancing. Refinancing can come with application fees, appraisal fees, and closing costs. These fees can add up and may not make refinancing worth it. To figure out if refinancing makes sense for you, calculate your break-even point. This is the point at which the amount you save on mortgage payments each month equals the cost of refinancing.
Can I get a lower interest rate without refinancing?
If you’ve got some savings and are keen to find a way to cut down your monthly mortgage payment, a mortgage recast might be just the ticket. If you make a substantial payment toward your loan’s principal, you can request that your lender “recast” your remaining payments. While this won’t alter your mortgage interest rate, it’s less costly than a refinance (a recast usually costs $100 to $500) and could save you a bundle on interest over the life of the loan.
Can I get equity out of my house without refinancing?
You can access the equity in your home without changing your existing mortgage by getting a home equity line of credit (HELOC) or a home equity loan. These options allow you to tap into the equity you’ve built up without refinancing. By choosing one of these options, you can access the value you’ve built in your home while keeping the terms of your current mortgage the same.
Do I have to pay closing costs again when I refinance?
It’s important to note that when you refinance your mortgage, you’ll typically have to pay closing costs again. These costs can range from 2% to 5% of your loan amount and are necessary to process your new mortgage refinance rate and loan terms. You’ll want to make sure you factor these costs into your financial calculations to ensure the potential savings are worth the cost.
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More refinance resources.
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Making Sense of Recent Market Volatility
Investors may be challenged to stay the course during this period of market upheaval. Let’s break down what this might mean for you.
The White House recently announced a new 10% baseline tariff on most U.S. imports and additional reciprocal tariffs pushing the weighted average to an estimated 20-25%. While investors had been anticipating the announcement, they were caught off guard by how aggressive it was. Some countries have indicated their intention to negotiate with the administration on lowering tariffs, while others have already begun announcing retaliatory measures.
It’s unclear how this all will shake out, but the risk of a recession has increased and market pricing is reflecting that accordingly.
What This Means For You
Moments like this are an important reminder that investing is a long-term endeavor. The market environment is variable; stock prices don’t only go up. It’s perfectly normal to feel concerned when markets drop quickly. It can be uncomfortable, and downright intimidating, to stay in the market when the world is in turmoil, but that’s an integral part of investing.
If you’re investing for long-term goals like retirement, making sudden changes based on short-term market movements can be perilous. A solid financial strategy is based on personal goals and time horizon – not day-to-day market swings.
Even though bear markets and corrections can stir up anxiety, historically, they are both shorter and have a lower magnitude than bull markets. Going back to the 1950s, the average bull market in the S&P 500 returned +77% versus the average bear market and correction return of -24%.
Moving Forward
We’ll continue to monitor these developments closely and share updates to help you make sense of them. And remember: market downturns may create opportunities for patient investors. Whether through dollar cost averaging, deploying cash held on the sidelines, or tax loss harvesting, investors have historically benefited from staying the course through volatile periods in the past.
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This information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
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Week Ahead on Wall Street: Tariff Aftermath
Earnings Kickoff
This week marks the start of another quarterly earnings season, with the major banks stepping up to the plate first as usual. Their reports will offer investors an initial look at how corporate America performed in the first quarter of 2025, while also providing valuable insights into consumer sentiment and lending activity.
The timing is consequential. Surpassing the first few tariff actions in both scale and scope, last week’s tariff announcements extended beyond what most market watchers had anticipated. Which begs some interesting questions about earnings: Were companies already feeling the effects in their first-quarter operations? And more importantly, how will the trade upheaval affect their outlook?
When executives speak up during their earnings calls, analysts will be listening closely for any mentions of supply chain adjustments, pricing strategies, or margin pressures resulting from trade policy shifts. While the first-quarter results themselves might not show much tariff impact due to timing, forward guidance and commentary will likely address these developments directly.
Adding further intrigue to this week’s market narrative will be the release of fresh inflation data, which takes on additional significance given that tariffs could push prices higher. The interaction between corporate earnings and inflation could tell us a lot about whether companies will look to pass increased costs to consumers or absorb them at the expense of profitability.
Economic and Earnings Calendar
Monday
• February Consumer Credit: Borrowing activity gives insight into broader economic activity.
Tuesday
• March NFIB Small Business Optimism: This measures how small business owners feel about current and future economic conditions.
• Earnings: Walgreens Boots Alliance (WBA)
Wednesday
• February Wholesale Inventories and Sales: Wholesalers often operate as an intermediary between manufacturers and retailers, serving as a key part of the goods supply chain.
• FOMC Meeting Minutes: The Federal Reserve releases detailed notes of every FOMC meeting three weeks after their conclusion. Investors often look for more information on Fed officials’ views for hints on the outlook for interest rates and the economy.
• Weekly Mortgage Applications: Mortgage activity gives insight on demand conditions in the housing market.
• Fedspeak: Richmond Fed President Tom Barkin will speak at the Economic Club of Washington D.C.
• Earnings: Delta Air Lines (DAL), Constellation Brands (STZ)
Thursday
• March Consumer Price Index: The CPI is one of the most popular indicators for tracking consumer price trends and is a marquee release for market watchers.
• March Treasury Statement: This summarizes the U.S. federal government budget by tracking government revenues and expenditures.
• Weekly Jobless Claims: This high frequency labor market data gives insight into filings for unemployment benefits. Jobless claims have continued to show a labor market that remains strong despite having cooled.
• Fedspeak: Dallas Fed President Lorie Logan will give welcome remarks at an event titled Outlook for North American Trade and Immigration at the regional bank. Chicago Fed President Austan Goolsbee will speak at the Economic Club of New York. Philadelphia Fed President Patrick Harker will discuss fintech at an event at the regional bank.
• Earnings: CarMax (KMX)
Friday
• March Producer Price Index: The PPI tracks price trends that producers face and is down significantly from its peak earlier in the cycle.
• April University of Michigan Consumer Sentiment: How consumers feel about economic conditions affect their spending habits. This survey places a particular focus on inflation and its trajectory.
• Fedspeak: St. Louis Fed President Alberto Musalem will discuss the economy and monetary policy at an Arkansas event. New York Fed President John Williams will give keynote remarks on the economic outlook and monetary policy at a Puerto Rico event.
• Earnings: Bank of New York Mellon (BK), BlackRock (BLK), Fastenal (FAST), JPMorgan Chase (JPM), Morgan Stanley (MS), Progressive (PGR), Wells Fargo (WFC)
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The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
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Current Mortgage Refinance Rates in New Hampshire Today
NEW HAMPSHIRE MORTGAGE REFINANCE RATES TODAY
Current mortgage refinance rates in
New Hampshire.
Apply online or call for a complimentary mortgage consultation.
Compare mortgage refinance rates in New Hampshire.
Key Points
• Mortgage refinance rates are influenced by economic factors such as Federal Reserve policy, inflation, and the bond market, as well as a borrower’s financial credentials.
• Interest rates fluctuate considerably: In the early 2000s, they were around 7.00%. In 2021, they hit record lows of around 3.15%.
• Refinancing can offer such benefits as lower monthly payments, a different loan term, and cashing out home equity.
• FHA refinances, backed by the Federal Housing Administration, often come with more attractive rates, occasionally up to a full percentage point lower than conventional loans.
• Opting for a 15-year mortgage can be a game-changer, slashing the total interest you pay over time, even if it means steeper monthly payments.
• Before refinancing, you’ll want to consider the costs and benefits, including closing fees and how they might affect your long-term financial plan.
Introduction to Mortgage Refinance Rates
A mortgage refinance involves replacing your current home loan with a new one. The terms and interest rate on the new loan may be different, but the property securing the loan remains the same. Essentially, you use the new loan to pay off the old one and enjoy the benefits of your new mortgage, which might be lower monthlies or pulling some cash out of your home equity (more on that in a bit).
The reason for refinancing, and the type of refinance you want, will help determine the interest rate you get on your new loan. This guide will help you understand how mortgage refinance rates are set, and how you can get the best rate for you.
Also note that you want to focus on annual percentage rates (APRs) vs. interest rates alone when shopping around. With APRs, you get a more accurate picture of the cost of your loan, since they take into account fees and more.
💡 Quick Tip: Wondering how to refinance a mortgage? The process, which takes about 30 to 45 days, is similar to when you got your original home loan.
Where Do Mortgage Refi Interest Rates Come From?
Mortgage rates are a product of various economic factors, such as Federal Reserve policy, inflation, the bond market, and housing inventory. Some specifics:
• If the Fed decides to raise its federal funds rate, mortgage refi rates are likely to climb as well.
• When bond prices rise, interest rates usually fall.
• In times of high inflation, rates typically rise, and vice versa.
• When housing inventory is tight, prices usually go up (and those notorious bidding wars can become more common). That may make it more expensive to borrow.
Your particular financial profile also has an impact. People with higher credit scores typically impress lenders as less risky, so they enjoy more favorable rates. People with lower credit scores appear less likely to pay what they owe in a timely manner (a key factor in your score), so lenders protect themselves by raising the interest rate they assess. A number to know: For a conventional home loan, you usually need a credit score of at least 620.
Being in the know about how rates are determined can empower you to make the right move when refinancing your mortgage.
How Interest Rates Affect Home Affordability
Just as with your current mortgage, the mortgage refinance rate is a key metric in the affordability of your refinance payment. Your monthly payment is a product of the amount of your home loan, the term over which you’re repaying, and the interest rate.
For instance, a $200,000 loan with a 6.00% interest rate and a 30-year repayment term would mean a $1,199 monthly payment. That same loan with an 8.00% interest rate would have you paying $1,467 each month. But here’s the kicker: The lower interest rate could save you nearly $100,000 over the life of the loan.
As you review your refi options, an additional fraction of a percentage point might seem insignificant in your monthly payment. However, in truth, it could accumulate to tens of thousands of dollars over the loan term.
Why Refinance in New Hampshire?
Refinancing your mortgage can be a smart financial move, but it does require some thought. If current interest rates are lower than your existing mortgage, it might be a good time to refi. Your specific reason for refinancing can determine what kind of refi to choose, and that can play into your rate.
Common Reasons to Refinance a Mortgage
Homeowners may refinance for several reasons:
• To take advantage of lower interest rates due to economic factors or after having built one’s credit.
• To adjust repayment terms, which can be a game-changer. Opt for a longer term to ease monthly payments, or a shorter one to clear the loan faster and save on interest.
• To cash out home equity. You can refinance to tap into your property’s rising value and then use the lump sum for a variety of reasons, from paying for a home renovation to financing a child’s education.
• To refinance from an adjustable-rate mortgage to a fixed-rate loan, which can provide stability and predictability in monthly payments. Or to do the opposite in order to lower monthly costs, as long as you plan on selling before the rate adjusts upward.
• To refinance an FHA loan once there’s 20% equity, thereby eliminating those permanent FHA mortgage insurance premiums.
How to Get the Best Available Mortgage Refi Interest Rate
Now that you know the reasons to refinance in New Hampshire, here’s some advice for securing a competitive mortgage refi rate:
• Build your credit score by always making payments on time, keeping your credit utilization ratio low (below 30% or, if possible, lower than 10%), and avoiding new debt.
• Be meticulous about paying your bills on time to help build your credit score.
• Strive for a debt-to-income ratio below 36%.
• Compare rates and fees from multiple lenders; shopping around can yield significant savings.
• Think about purchasing mortgage points, or discount points, to reduce rates. While it means you put down more money upfront, it can lower your monthlies and how much interest you pay over the life of the loan.
• Opt for a shorter-term loan for better rates. This will hike up your monthly payments but could yield significant interest savings over the loan’s term.
Understand Trends in New Hampshire Mortgage Interest Rates
Mortgage rates, as you’ve learned, are impacted by several factors, both big-picture economic ones and those more specific to your personal financial situation. It’s completely normal and expected for these rates to rise and fall. Here, you’ll learn more about how that happens at a national level and in New Hampshire. Understanding these trends can be key to making the right move for your finances. And if you’re considering refinancing, timing could be everything.
Historical U.S. Mortgage Interest Rates
Mortgage rates have been on a bit of a rollercoaster in recent years. In 2021, the average 30-year fixed mortgage rate in the U.S. was 3.15%. Fast forward to 2023, and it had soared to 7.00%. If you were hoping for a mortgage rate drop in 2024 and beyond (as many were), you were likely disappointed. Freddie Mac’s 2025 prediction suggests that these rates are here to stay for the time being.
These changes reflect broader economic conditions, such as Federal Reserve policies and market conditions. To give you more context, check out this graph showing how mortgage rates have varied over several decades. You may be surprised to see that they hit almost 20% in the early 1980s. In comparison, a 7.00% rate looks quite moderate.
Historical Interest Rates in New Hampshire
The chart below shows you how New Hampshire rates compare to the national average. As you’ll note, they are often a bit higher or lower than the norm. It’s likely worth your while to keep tabs on current mortgage rates when you are contemplating a refi; that way, you can be prepared to jump when rates hit a sweet spot. (Note: The data points below stop at 2018 since the Federal Housing Finance Agency stopped compiling state by state intel at that juncture.)
| Year | New Hampshire Rate | National Rate |
|---|---|---|
| 2000 | 8.17 | 8.14 |
| 2001 | 7.07 | 7.03 |
| 2002 | 6.60 | 6.62 |
| 2003 | 5.74 | 5.83 |
| 2004 | 5.55 | 5.95 |
| 2005 | 5.75 | 6.00 |
| 2006 | 6.39 | 6.60 |
| 2007 | 6.44 | 6.44 |
| 2008 | 6.05 | 6.09 |
| 2009 | 4.87 | 5.06 |
| 2010 | 4.65 | 4.84 |
| 2011 | 3.96 | 4.66 |
| 2012 | 3.70 | 3.74 |
| 2013 | 3.79 | 3.92 |
| 2014 | 4.01 | 4.24 |
| 2015 | 3.83 | 3.91 |
| 2016 | 3.72 | 3.72 |
| 2017 | 3.97 | 4.03 |
| 2018 | 4.59 | 4.57 |
Choose the Right Mortgage Refi Type
There are myriad mortgage refinance options out there, each with its own set of perks. Knowing your options is key to making a savvy financial move. Before getting into the specifics, two notes:
• Refinance rates are usually a tad higher than those for purchasing a home, though the actual interest rates can fluctuate based on the kind of mortgage refi you’re considering.
• Don’t move too fast when considering a refi. In terms of how soon you can refinance, you typically need 20% home equity before you can secure this kind of financing.
Conventional Refi
Also known as a rate-and-term refi, conventional refis come with higher rates than government-backed loans (FHA, VA, and USDA loans, each of which has specific qualifying criteria). They also usually require a credit score of 620 or higher and a lower debt-to-income ratio compared to government-backed loans.
Conventional loans are ideal for borrowers with strong credit and sufficient equity in their home. They can potentially help you secure a lower mortgage refinance rate, reduce monthly payments, or alter the loan term to suit your needs.
Cash-Out Refi
A cash-out refinance is a powerful tool that allows homeowners to leverage their home equity by receiving a lump sum of cash that can be used for a variety of purposes, such as home improvements, debt consolidation, or other major expenses. While the interest rates for cash-out refinances are typically higher than for traditional refinances, the flexibility they offer can be well worth it.
For example, if your home is worth $500,000 and you owe $300,000 on your mortgage, you might be able to borrow up to 80% of your home’s value, which would give you more than $100,000 after paying off your existing loan.
15-Year Mortgage Refi
Thirty years is a common term for a home loan; you might even consider it the standard length of repayment. But if you refinance with a 15-year mortgage refinance, it can slash the total interest you pay over the loan’s life, even though the monthly payments are higher. Take a closer look:
• Say you have a 30-year, $1 million loan at a 7.50% mortgage refinance rate. Your monthly payment is about $6,992, and the total interest you’d pay is $1,517,167.
• If you refinanced to a 15-year mortgage at a 7.00% rate, your monthly payment would jump to around $8,988. But here’s the kicker: You’d save nearly $900,000 over the loan term, with the total interest dropping to about $617,891.
That could make a major difference in your financial profile.
Adjustable-Rate Mortgage Refi
An adjustable-rate mortgage (ARM) starts with a lower rate than a fixed-rate loan, but the rate can change over time. If you’re planning to move before the rate adjusts, an ARM could be an affordable refinance option. Before you choose this type of loan, it’s important to consider how much your monthly payments could change and whether you can afford them if you don’t move. (Even if you think your plans are definite, life can throw you some unexpected situations, after all.)
Your lender can help you evaluate your specific situation and determine whether or not an ARM is the right choice for you.
FHA Refi
FHA refinances, insured by the Federal Housing Administration, offer lower mortgage refinance rates, sometimes a full point lower than conventional loans. These options are particularly beneficial for homeowners with existing FHA loans, who can opt for an FHA Simple Refinance or an FHA Streamline Refinance.
For those without an FHA loan, an FHA cash-out refinance or an FHA 203(k) refinance, which is designed for renovations, can be viable alternatives. Both options provide more accessible refinancing paths for a broader range of borrowers.
VA Refi
The VA offers some of the most competitive mortgage refinance rates around, and you could be eligible for a VA loan refinance, or IRRRL, if you have a VA loan. This refinance can help active and retired members of the U.S. military (and some spouses) save money on their loans, which is a great way to improve one’s financial standing.
💡 Quick Tip: Some lenders offer a so-called no-closing-cost refinance. However, that usually means either rolling the closing costs into the new mortgage principal or exchanging them for a higher interest rate.
Compare Mortgage Refi Interest Rates
Snagging a competitive rate can save you a bundle over the life of your loan. Even a small difference can add up to big interest savings. Here’s how to get a competitive rate in your area:
• Compare prequalification offers from several lenders to find the best rate and terms.
• Refinancing might not be the best move if your current rate is already a good deal. Do the math, and make sure a drop in interest rates is significant enough to be worth the effort and upfront costs.
• Remember, lower rates often mean higher costs.
• Pay attention to the annual percentage rate (APR), which factors in the interest rate, fees, and discount points.
• As you budget, don’t overlook mortgage refinancing costs. They aren’t insignificant. Typically, closing costs alone will amount to 2% to 5% of the loan amount.
Work closely with your lender or a mortgage professional to get the full picture before selecting your refi loan.
Use an Online Refinance Calculator
All that talk of calculations and interest rates can be intimidating. Fear not: Online refinance calculators are powerful tools that can help you estimate your new monthly payment and compare different refinance options. By using these calculators, you can see how changes in your mortgage refinance rate, loan term, and loan amount could affect your financial situation. This can help you make more informed decisions about your refinancing strategy and choose the option that best aligns with your financial goals and objectives.
Run the numbers on your home loan.
-
Mortgage calculator
Punch in your home loan amount and a new interest rate, and we’ll estimate your payoff date.
-
Down payment calculator
Enter a few details about your home loan and we’ll provide your monthly mortgage payment.
-
Home affordability calculator
Provide us with a few details and see how much you can afford to spend on a home purchase.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
The Takeaway
Refinancing your mortgage can be a smart financial move to lower your home loan interest rate, reduce monthly payments, or tap into home equity. But it’s important to weigh the costs and benefits, including closing fees and how they fit into your long-term financial goals. To fully understand your options, shop around for the best rates and terms, and make a plan that’s right for you.
SoFi can help you save money when you refinance your mortgage. Plus, we make sure the process is as stress-free and transparent as possible. SoFi offers competitive fixed rates on a traditional mortgage refinance or cash-out refinance.
A mortgage refinance could be a game changer for your finances.
FAQ
When is it a good time to refinance your home?
It can be a wise financial decision to refinance your home when you can lock in a significantly lower mortgage refinance rate. That rate reduction should fairly quickly compensate for the closing costs you have to dole out, as well as fit in with your long-term financial plans. Refinancing could help you save a substantial amount over the life of the loan, potentially freeing up more of your monthly budget and giving you added financial flexibility.
Can I lower my interest rate without refinancing?
If you have some extra cash on hand, consider a mortgage recast. This involves making a large lump-sum payment toward the principal of your mortgage. Your lender then re-amortizes the loan. While this won’t change your mortgage refinance rate, it can lower your monthly payments and save you money on interest over the life of the loan. Another option is to request a loan modification if you are struggling to make your debt payments and then work with your lender to negotiate a better rate.
Can I ask my lender to lower my rate?
You can have a conversation with your lender to see if they are willing to lower your mortgage refinance rate. They don’t, however, have to honor the request. That said, if you have a strong payment history and a good credit score, your lender may be willing to lower your rate without you having to refinance. This could save you a lot of money over the life of your loan.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
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Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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SOHL-Q125-184
More refinance resources.
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How Much Does It Cost to Refinance a Mortgage?
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How to Refinance a Home Mortgage Loan
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7 Signs It’s Time for a Mortgage Refinance
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Current Mortgage Refinance Rates in Montana Today
Apply online or call for a complimentary mortgage consultation.
Compare mortgage refinance rates in Montana.
Key Points
• Mortgage refinance rates are influenced by a variety of economic factors, including Federal Reserve policy, inflation, the bond market, and housing inventory levels.
• Credit scores can also play a role, with higher scores earning lower interest rates.
• Did you know that a mere 1% dip in your mortgage refinance rate could translate to substantial monthly savings and add up to thousands of dollars over the loan’s lifetime?
• In Montana, mortgage refinance rates have historically been very close to the national average, so it’s worth keeping an eye on the market to time your refinance just right.
• If you qualify, FHA and VA loans can offer lower mortgage refinance rates than conventional loans, and can be a great option for many homeowners.
• The closing costs for a mortgage refinance usually fall between 2% to 6% of the loan amount, so be sure to consider this when making your decision.
Introduction to Mortgage Refinance Rates
A mortgage refinance is like hitting the reset button on your mortgage. It’s a chance to swap out your old terms for new ones, potentially scoring a lower rate in the process. You use the new loan to pay off the old one. Whether you’re after lower monthly payments, a shorter loan term, or cash in hand, the type of refi you opt for will play a big role in the rate you secure. This guide is your ticket to understanding how these rates are determined and how to snag the best one out there.
💡 Quick Tip: Wondering how to refinance a mortgage? The process, which takes about 30 to 45 days, is similar to when you got your original home loan.
Where Do Mortgage Refinance Interest Rates Come From?
When you refinance a home loan, the interest rates available are the result of a complex interplay of economic conditions and personal financial factors.
From the broader economic perspective, Federal Reserve policy, inflation, the bond market, and housing inventory levels all play a role. In general, higher inflation and federal funds rate hikes tend to push mortgage refinance rates up, while a strong bond market can pull them down. When housing inventory is tight and prices climb, you may also see rates tick up.
By keeping an eye on these factors, you can gain a better understanding of the potential direction of rates, which can help you decide when to refinance and what kind of rate you might be able to get.
How Interest Rates Affect Home Affordability
Interest rates play a huge role in the affordability of your mortgage refinance. The rate you secure will directly impact your monthly payments.
Here’s an example:
• On a $200,000 loan, a 6.00% interest rate over a 30-year term would mean a monthly payment of $1,199.
• If that rate were 8.00%, you’d be looking at a monthly payment of $1,467.
Here’s the important part: Over the life of the loan, that seemingly small percentage difference could add up to nearly $100,000 in savings. So even a fraction of a percentage point can make a big difference in your bottom line.
Why Refinance in Montana?
Refinancing your mortgage can be a smart move, depending on your financial goals. If current interest rates are lower than your existing mortgage, refinancing can reduce your monthly payments and save you money over the loan term.
A note in terms of how soon you can refinance: You’ll need at least 20% equity in your home, especially if you’re cashing out equity. And don’t forget that there will be closing costs, typically 2% to 6% of the loan amount, to contend with.
Common Reasons to Refinance a Mortgage
Here are some of the reasons why you may want to refinance a home loan in Montana:
• You’ve found a better mortgage refinance rate, thanks to having built your credit or favorable market conditions.
• You’re considering adjusting your repayment term to better suit your financial goals.
• You may need to tap into your home equity for expenses like education or home improvements.
• Your adjustable rate is about to change, and you want to switch to a fixed-rate loan for peace of mind.
• You have an FHA loan and 20% equity, and you want to eliminate your FHA mortgage insurance premium.
💡 Quick Tip: Some lenders offer a so-called no-closing-cost refinance. However, that usually means either rolling the closing costs into the new mortgage principal or exchanging them for a higher interest rate.
How to Get the Best Available Mortgage Refi Interest Rate
To snag a competitive mortgage refinance rate, there are a few key steps.
• First, work to build your credit score by being diligent with paying your bills on time, every time, and steering clear of new debt.
• Keep that debt-to-income ratio (a key metric that lenders look at when you seek approval) under 36%.
• Shop around like a pro, comparing interest rates and fees from a handful of lenders. This isn’t a moment for “one and done” thinking.
• Consider discount points, also referred to as mortgage points. This involves paying more upfront to “buy down” your rate. That lower rate, in turn, can translate into a lower monthly payment and less interest paid over the life of the loan.
Understand Trends in Montana Mortgage Interest Rates
Changes in mortgage rates are driven by a variety of factors, including Federal Reserve policy, inflation, and the bond market, as mentioned above (and your financial credentials, too). If you’re thinking of refinancing, it can be a smart move to keep an eye on the broader trends in the U.S. mortgage market, so you can make the best decision about when to refinance your mortgage.
Historical U.S. Mortgage Interest Rates
Refinance rates have changed significantly over the years. In 2021, the average 30-year fixed mortgage refinance rate was 3.15%. In 2023, that rate had jumped to 7.00%. While many hoped that rates would drop late in 2024 and into 2025, current mortgage rates have not fallen as yet.
It can help to consider both the big picture of mortgage rates over the years, as well as emerging trends. For example, while a 7.00% interest rate may sound high after those historic lows of 2020 and 2021, did you know that interest rates for home loans hit almost 20% early in the 1980s? That can help take the edge off frustration with the current climate, with an interest rate drop not yet happening. Here’s a graph showing you how rates have evolved over several decades.
Historical Interest Rates in Montana
Montana’s mortgage refinance rates tend to mirror national trends, but with some local variation. Take a look at how the rates have compared for almost two decades in the chart below. (Note that the Federal Housing Finance Agency stopped tracking these numbers in 2018, so the chart ends with that year.)
| Year | Montana Rate | National Rate |
|---|---|---|
| 2000 | 8.10 | 8.14 |
| 2001 | 6.92 | 7.03 |
| 2002 | 6.59 | 6.62 |
| 2003 | 5.74 | 5.83 |
| 2004 | 5.64 | 5.95 |
| 2005 | 5.76 | 6.00 |
| 2006 | 6.50 | 6.60 |
| 2007 | 6.40 | 6.44 |
| 2008 | 6.01 | 6.09 |
| 2009 | 4.97 | 5.06 |
| 2010 | 4.79 | 4.84 |
| 2011 | 4.55 | 4.66 |
| 2012 | 3.58 | 3.74 |
| 2013 | 3.85 | 3.92 |
| 2014 | 4.17 | 4.24 |
| 2015 | 3.88 | 3.91 |
| 2016 | 3.73 | 3.72 |
| 2017 | 4.05 | 4.03 |
| 2018 | 4.66 | 4.57 |
Choose the Right Mortgage Refi Type
Now that you have a good understanding of what determines rates and how they have fluctuated over time, take a look at the different types of mortgage refinances available, so you can determine which is best for your situation and your goals.
Conventional Refi
A conventional refinance, also known as a rate-and-term refi, is a popular choice for many homeowners. These loans typically feature higher mortgage refinance rates than government-backed loans such as FHA, VA, or USDA (but not everyone qualifies for those loans).
Opt for a conventional refi if you’re aiming to reduce your interest rate or adjust your loan term. You’ll need a certain credit score (usually 620 or higher) and a solid chunk of equity in your home, usually around 20%. The potential savings on monthly payments and overall interest over the loan’s life can be a financial boost.
Cash-Out Refi
With a cash-out refinance, you can leverage your home equity by borrowing a portion of it as a lump sum. In most cases, the interest rates for cash-out refis are slightly higher than those for traditional refinances, but the cash can be a game-changer for various financial needs, like home improvements or consolidating high-interest debt. For example, if your home is valued at $500,000 and your current mortgage balance is $300,000, you have $200,000 in equity. A lender might let you borrow up to 80% of that equity, which would leave you with $100,000-plus after paying off your existing mortgage.
15-Year Mortgage Refi
If you’re considering refinancing from a 30-year to a 15-year mortgage, here’s a nugget of wisdom: The long-term savings are worth the higher monthly payments, if you can swing them. Here’s an example:
• On a $1 million home loan at a 7.50% rate, your 30-year term would have you paying around $6,992 monthly and a staggering $1,517,167 in total interest.
• If you refinance to a 15-year mortgage, the monthly payment jumps to about $8,988, but the total interest paid plummets to roughly $617,891, saving you close to $900,000 compared to the 30-year plan.
While a shorter term isn’t for everyone, it can be a great way to save on interest over the life of the loan if you can swing it.
Adjustable-Rate Mortgage Refi
With an adjustable-rate mortgage (ARM), you start with a lower initial mortgage refinance rate than a fixed-rate loan, but your rate can rise or fall with the market. If you don’t plan on staying in your home for the long haul, an ARM could be a cost-effective way to refinance. You’ll be gone before the rate can go up.
But it’s important to understand the potential for rate increases and how they could affect your monthly payments and overall financial plan. What if your plans to relocate fall through, and you wind up stuck with that higher payment? You may want to talk with a financial advisor to see if an ARM makes sense for your financial goals and risk tolerance.
FHA Refi
FHA loans are backed by the Federal Housing Administration. They often offer lower mortgage refinance rates, sometimes a full percentage point lower than conventional loans. While certain FHA refis are exclusive to those with an existing FHA loan, such as FHA Simple Refinances and FHA Streamline Refinances, there are other options for those without. You might consider an FHA cash-out refinance or an FHA 203(k) refinance, tailor-made for home renovation and rehabilitation projects. These options are designed to be flexible and meet a range of homeowner needs.
VA Refi
Backed by the United States Department of Veterans Affairs, VA loans offer some of the most competitive mortgage refinance rates available. To be eligible for a VA refinance, also known as an interest rate reduction refinance loan (IRRRL), you must have an existing VA loan. This type of refinance can potentially lower your monthly payment and the total amount of interest paid over the life of the loan, making it a great option for qualified active-duty members of the military, veterans, and possibly their families.
Compare Mortgage Refi Interest Rates
Comparing mortgage refinance rates can help you secure a competitive rate and save money. Here are some tips:
• Shop around with multiple lenders to see what rates and fees they offer.
• When you’re comparing, look at the annual percentage rate (APR), which factors in interest, fees, and discount points, vs. just the interest rate.
• Look at the big picture, including closing costs. Crunch the numbers and make sure you’re coming out ahead with the break-even point. That’s defined as how long it takes for the savings delivered by the new loan to equal the cost of refinancing, including closing costs and fees.
Use an Online Refinance Calculator
Did the phrase “crunch the numbers” above make you cringe? Don’t worry; tech tools can help. Online refinance calculators are a great way to get an estimate of what your monthly payments might be and to compare different refinance options. These calculators take a number of factors into account, including your current loan balance, the new mortgage refinance rate, and any closing costs. This can give you vital intel and help you decide if refinancing makes financial sense for you.
Run the numbers on your home loan.
-
Mortgage calculator
Punch in your home loan amount and a new interest rate, and we’ll estimate your payoff date.
-
Down payment calculator
Enter a few details about your home loan and we’ll provide your monthly mortgage payment.
-
Home affordability calculator
Provide us with a few details and see how much you can afford to spend on a home purchase.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
The Takeaway
Refinancing your mortgage can be a savvy financial move, but it can require a bit of education and research. Whether you’re looking to lower your monthly home loan payments, change your mortgage term, or tap into your home’s equity, it’s important to understand the different types of refinances and what each requires. It can also be a good move to shop around with multiple lenders so you find the best mortgage refi type and rate to help you achieve your financial goals.
SoFi can help you save money when you refinance your mortgage. Plus, we make sure the process is as stress-free and transparent as possible. SoFi offers competitive fixed rates on a traditional mortgage refinance or cash-out refinance.
A mortgage refinance could be a game changer for your finances.
FAQ
Are refinance rates falling?
As of March 2025, mortgage refi rates were holding steady. Many had hoped they would drop in late 2024 or at the start of the new year, but so far, the Fed has not cut rates, and so lenders are not lowering their interest numbers. It’s wise, though, to check online for fluctuations; mortgage rates do ebb and flow.
Can I refinance when rates are low?
You absolutely can refinance your mortgage when interest rates are on the decline. That can help you save money on your monthly costs and the overall interest you pay. It’s a good idea to weigh the financial implications to ensure the potential savings are worth the costs. Refinancing comes with fees and closing costs, so you’ll want to calculate your break-even point to see if the long-term benefits are worth the upfront investment.
How much does 1 percent lower your monthly mortgage payment?
Even a 1% decrease in your mortgage refinance rate can make a big difference in your monthly payment. For example, a $300,000, 30-year loan at a 7.00% interest rate has a monthly payment of $1,996. If you could refinance at 6.00%, your monthly payment would drop to $1,827. That’s a savings of $170 per month. This could free up cash for other expenses or investments.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Qualifying for the reward requires using a real estate agent that participates in HomeStory’s broker to broker agreement to complete the real estate buy and/or sell transaction. You retain the right to negotiate buyer and or seller representation agreements. Upon successful close of the transaction, the Real Estate Agent pays a fee to HomeStory Real Estate Services. All Agents have been independently vetted by HomeStory to meet performance expectations required to participate in the program. If you are currently working with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®. A reward is not available where prohibited by state law, including Alaska, Iowa, Louisiana and Missouri. A reduced agent commission may be available for sellers in lieu of the reward in Mississippi, New Jersey, Oklahoma, and Oregon and should be discussed with the agent upon enrollment. No reward will be available for buyers in Mississippi, Oklahoma, and Oregon. A commission credit may be available for buyers in lieu of the reward in New Jersey and must be discussed with the agent upon enrollment and included in a Buyer Agency Agreement with Rebate Provision. Rewards in Kansas and Tennessee are required to be delivered by gift card.
HomeStory will issue the reward using the payment option you select and will be sent to the client enrolled in the program within 45 days of HomeStory Real Estate Services receipt of settlement statements and any other documentation reasonably required to calculate the applicable reward amount. Real estate agent fees and commissions still apply. Short sale transactions do not qualify for the reward. Depending on state regulations highlighted above, reward amount is based on sale price of the home purchased and/or sold and cannot exceed $9,500 per buy or sell transaction. Employer-sponsored relocations may preclude participation in the reward program offering. SoFi is not responsible for the reward.
SoFi Bank, N.A. (NMLS #696891) does not perform any activity that is or could be construed as unlicensed real estate activity, and SoFi is not licensed as a real estate broker. Agents of SoFi are not authorized to perform real estate activity.
If your property is currently listed with a REALTOR®, please disregard this notice. It is not our intention to solicit the offerings of other REALTORS®.
Reward is valid for 18 months from date of enrollment. After 18 months, you must re-enroll to be eligible for a reward.
SoFi loans subject to credit approval. Offer subject to change or cancellation without notice.
The trademarks, logos and names of other companies, products and services are the property of their respective owners.
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