Refinance Calculator
Plug in your current loan and compare it side by side with a new loan at today's posted rates. Flip between Conventional, FHA, VA, Jumbo, and Non-QM to see which program saves you the most.
- Side-by-side current vs new loan comparison
- Live rate sync from OnPoint's posted wholesale sheet
- Compare 5 loan programs with one click
- Monthly, annual, lifetime savings & break-even months
Today's Refinance Rates ·
Conv: 5.75% ·
FHA: 5.375% ·
VA: 5.49% ·
Jumbo: 5.75% ·
Non-QM: 5.875%
As of May 29, 2026. View all rates →
20+
Wholesale Lenders Shopped
20+ Yrs
Originating · LO Since 2005
OnPoint Mortgage Pro · NMLS #2134550 · Headquartered in Irvine, California · Licensed in CA, CO, FL, ID, MD, NH, SC, TX, VA · Equal Housing Lender
Today's Refinance Rates by Program
Side by side: OnPoint's posted wholesale rate versus the national daily average reported by Mortgage News Daily. The spread is what shopping wholesale vs retail looks like in practice.
| Program | OnPoint Rate | National Avg | You Save |
|---|---|---|---|
| Conventional | 5.75% | 6.67% | −0.92% |
| FHA Streamline | 5.375% | 6.22% | −0.84% |
| VA IRRRL | 5.49% | 6.24% | −0.75% |
| Jumbo | 5.75% | 6.75% | −1.00% |
| Non-QM | 5.875% | ~8.00% | −2.12% |
Rates shown are 30-year fixed, par pricing for well-qualified borrowers. Your actual rate depends on credit score, loan-to-value, debt-to-income, occupancy, and property type. National Non-QM rate is a market estimate — MND does not track Non-QM daily. Source: Mortgage News Daily.
How to Use the Refinance Calculator
Three steps. The math updates instantly. No submit button, no email required.
1
Pick Your Program
Toggle Conventional, FHA, VA, Jumbo, or Non-QM. The new rate auto-fills with today's posted OnPoint rate for that program.
2
Enter Your Current Loan
Balance, current rate, and remaining term — from your last mortgage statement. The calculator computes your current P&I payment for you.
3
Compare Side-by-Side
See current vs new payment in one view, plus monthly, annual, and lifetime interest savings. Add closing costs in the advanced row to see your break-even point.
When Refinancing Makes Sense
Rate-and-term refinances aren't always the right move. The math has to work for your specific situation. Here's the honest framework.
Your Rate Dropped 0.50%+
The classic rule of thumb. With par-priced (no-point) refi pricing, even a 0.5% rate drop usually breaks even within 24-36 months on standard closing costs.
You're Keeping the Loan 24+ Months
Closing costs are 2-3% of the loan typically. If monthly savings are $200-$400, break-even is 1-3 years. Plan to be in the home past that.
You Want to Drop PMI
If your home value rose enough to put you below 80% LTV on a conventional refi, you can drop PMI entirely — often $100-$300/month savings on its own.
You Want to Shorten the Term
Refinancing a 30-year into a 20- or 15-year at a lower rate can save tens of thousands in lifetime interest while keeping the new monthly close to (or below) the old.
VA Borrowers: Try IRRRL
VA Interest Rate Reduction Refinance Loans have no appraisal, no income docs, and lower closing costs than standard refis. Easiest break-even math out there.
FHA Borrowers: Try Streamline
FHA Streamline drops to a lower rate without a new appraisal or full income re-verification. Often the fastest refi available, with the lowest costs.
Have Questions? Talk to a Licensed Loan Officer.
The calculator gives you the math. Victor gives you the strategy — which program fits your file, what closing costs will actually be, and which of our 20+ wholesale lenders is pricing best today for your refi.
Victor Santos
Senior Loan Officer · NMLS #888844 · 20+ Years
Originating mortgages since 2005. Specializes in rate-and-term refinances across Conventional, FHA Streamline, VA IRRRL, Jumbo, and Non-QM. Personal phone & email, no callback queues. Quotes shopped across 20+ wholesale lenders so you see actual best price.
What Real Clients Say
Verified Google Reviews from OnPoint Mortgage Pro clients. No edits, no curation.
Refinance Calculator: Common Questions
How much rate drop justifies refinancing?
The old rule was 1%, but with today's lower closing costs that's outdated. A 0.5% drop usually works if you'll keep the loan past your break-even point. The honest answer is in the calculator above: input your numbers, add closing costs, and look at the "Break-Even" cell. If you'll stay in the home longer than that, the refi pays off.
What are typical refinance closing costs?
2-3% of the loan amount in most states. On a $400,000 refi that's $8,000-$12,000 total — origination, title insurance, appraisal, escrow, recording, prepaid interest, and a few smaller line items. Streamline refis (VA IRRRL, FHA Streamline) skip the appraisal and most income docs, so costs drop to 1-1.5% — under $5,000 in many cases.
Should I roll closing costs into the loan?
Yes if cash-on-hand is tight, no if you have the cash. Rolling costs in means you pay interest on them for the life of the loan, but it preserves liquidity. Paying cash at closing saves you $8,000-$15,000 in lifetime interest on a typical refi. Most borrowers split the difference: roll in a portion, pay the rest.
Why does the calculator show different rates per program?
Each loan program prices to a different secondary market: Conventional follows Fannie Mae / Freddie Mac MBS, FHA follows Ginnie Mae I, VA follows Ginnie Mae II, Jumbo is portfolio-priced by individual lenders, and Non-QM is private-label investor money. They move independently. VA and FHA often price 0.25-0.50% below conventional because of the government guarantee.
What's the difference between APR and interest rate?
Interest rate determines your monthly principal and interest payment. APR is a federally-defined annualized cost that includes lender fees, origination, and points. APR is always higher than the interest rate. When comparing two refi offers with different fee structures, APR makes the comparison apples-to-apples.
How long does a refinance take to close?
Standard rate-and-term refi: 30-45 days. VA IRRRL and FHA Streamline: 15-25 days (no appraisal speeds things up). The biggest variables are appraisal turn time (where applicable) and how quickly you return underwriting conditions. Files with clean credit and W-2 income move fastest.
Can I qualify for a refi if my home value has dropped?
Often yes. FHA Streamline and VA IRRRL don't require a new appraisal, so home value isn't an issue. Conventional has an underwater refinance option (HIRO / Fannie Mae RefiNow / Freddie Mac Refi Possible) for qualifying borrowers. We can run multiple paths simultaneously and tell you which lender will fund.
Should I pay points to get a lower rate?
Depends on how long you'll keep the loan. One point (1% of loan) typically lowers the rate 0.25%, saving roughly $70/month per $100,000 borrowed. Break-even is 4-6 years. If you'll keep the loan longer, points pay off. If you might refinance again sooner, take the par-rate (no-point) option. The math is straightforward — Victor will run both scenarios for you.
Get Your Personalized Refinance Quote
Answer a few quick questions and a licensed loan officer will shop your file across 20+ wholesale lenders. Real rate sheet within one business day. No credit pull, no obligation.
Prefer to Talk to a Human?
Call during business hours, or send your quote request and a licensed loan officer will reach out within one business day with a real rate sheet.
(877) 870-0007Calculator Disclosures
This refinance calculator provides estimates for educational and planning purposes. Principal-and-interest calculations use the standard mortgage amortization formula. The calculator does not include property taxes, homeowners insurance, mortgage insurance (PMI / MIP), or HOA dues — those don't change with a rate-and-term refinance and therefore don't affect monthly savings.
Lifetime interest savings is computed as (current loan total interest) minus (new loan total interest), assuming both loans are held to their full terms. Real-world savings depend on how long you actually keep each loan. Break-even is computed as closing costs divided by monthly savings — the number of months until cumulative monthly savings exceed the closing costs you paid.
This is NOT a loan offer, loan estimate, or commitment to lend. Actual rates depend on credit score, loan-to-value, debt-to-income, occupancy, property type, and lender. APR and points apply. Each refinance is subject to credit approval, income verification (waived on some streamline products), and applicable program guidelines.
OnPoint Mortgage Pro · NMLS #2134550 · Equal Housing Lender. Licensed in California, Colorado, Florida, Idaho, Maryland, New Hampshire, South Carolina, Texas, and Virginia. All loans subject to credit approval. Rates and program details current as of 2026 and subject to change.