Conventional Refinance Programs Comparison

Did you know there are 6 refinance options available?

Many loan officers overlook low-to-moderate income refinance programs like RefiNow, Refi Possible, HomeReady, and Home Possible. These programs deserve your attention because they offer real benefits: lower interest rates, reduced mortgage insurance costs, and streamlined documentation. If your income qualifies, these programs could save you thousands over the life of your loan.

How it works: Enter your area median income, household income, loan balance, home value, and current interest rate. The calculator then checks your eligibility across six refinance programs tailored to different financial situations.

Important: This tool provides a quick overview based on standard program requirements—it's not a final approval. Contact a loan officer for personalized guidance and to apply for refinancing.

Step 1: Area Median Income (AMI)

Area Median Income (AMI) The midpoint household income for your county or metro area.

Find your AMI: Fannie Mae | Freddie Mac

Step 2: Household Information

Total Household Income Current Loan Balance Home Value (Estimated)

Step 3: Current Loan Details

Current Interest Rate (%) New Interest Rate (%) Current Loan Term (Years) Who owns your current loan? Don't Know / Other Fannie Mae Freddie Mac Other

Find who owns your loan: Fannie Mae | Freddie Mac

Payment History Current on all payments 1 late payment in last 12 months Multiple late payments or recent delinquency

Step 4: Refinance Goal

Primary Goal Lower Interest Rate (Rate/Term) Access Home Equity (Cash-Out) Reduce Monthly Payment Not Sure