FLORIDA CONSUMER REFINANCE

A lower payment is only one number.

See the payment, closing-cost, break-even, and term trade-offs together. Then request a licensed review for a Florida property. HomeEqual is a mortgage broker, not a lender; a participating lender determines eligibility, rates, terms, and approval.

MODEL THE TRADE-OFF GET PRE-APPROVED

            FLORIDA PROPERTIES ONLY/PARTICIPATING THIRD-PARTY LENDERS/LENDER DECISION
          

/ 01 - THE REFINANCE DECISION LAB

Put both loans on the same page.

A lower payment can hide a longer term, new closing costs, or more total interest. Compare the current obligation with written lender disclosures—not a teaser rate or website estimate.

CURRENT LOAN / SOURCE DOCUMENTS

STATEMENT: Principal balance + total payment
NOTE: Rate, maturity + prepayment terms
ESCROW: Taxes, insurance + shortages
HORIZON: Expected time in the property and loan

Start with what you actually owe and how long remains. A refinance resets the comparison; it does not erase prior interest or transaction costs.

PROPOSED LOAN / WRITTEN COMPARISONLENDER DISCLOSURES

RATE + APR: Review both—and whether pricing is locked
CASH TO CLOSE: Points, credits, fees, prepaids + escrow
MONTHLY TOTAL: Principal, interest, tax, insurance + MI
BREAK-EVEN: Costs divided by comparable monthly change
TERM + TOTAL COST: New maturity, five-year cost + amortization

DECISION RULE

LOWER PAYMENT ≠ LOWER TOTAL COST

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GENERAL EDUCATION ONLY. ACTUAL TERMS COME FROM A PARTICIPATING LENDER AFTER REVIEW AND ARE SUBJECT TO UNDERWRITING. NOT AN OFFER, APPROVAL, RATE LOCK, OR COMMITMENT TO LEND.

/ 02 - THE DECISION LENS

A refinance should solve the right problem.

Payment relief, cash access, and a shorter term are different goals. Each changes the cost and risk profile. A licensed mortgage professional can help compare eligible programs from participating lenders; availability and results vary.

01 / PAYMENT

Lower monthly P&I

A lower rate or longer term can reduce principal and interest. A longer term can also increase total interest, even when the monthly payment falls.

02 / TERM

Change the runway

A shorter term may raise the payment while reducing modeled interest. Compare the new amortization schedule with the years already remaining.

03 / EQUITY

Evaluate cash-out

Cash-out increases the balance secured by your home and may increase payment and total cost. Compare it with other financing choices and their risks.

04 / HORIZON

Test the break-even

Closing costs need time to recover. Compare the estimated break-even with how long you expect to keep the loan and property.

/ 03 - REVIEW PATH

Clear stages. No invented clock.

Documentation, underwriting, appraisal or valuation, title work, closing, and funding requirements vary by borrower, property, program, lender, and third parties.

01 / DEFINE

Name the objective

Share your Florida property, existing loan, expected time horizon, and goal. A request for review is not an approval.

02 / COMPARE

Review eligible options

A licensed mortgage professional may compare available programs from participating third-party lenders. Options and terms vary.

03 / VERIFY

Inspect official disclosures

Compare rate, APR, points, lender and third-party charges, cash to close, payment, prepayment terms, and total cost on the lender's disclosures.

04 / DECIDE

Lender underwrites

The selected lender evaluates credit, income, assets, property, title, and other requirements, makes the credit decision, and sets final terms.

FLORIDA PROPERTY / LICENSED REVIEW

Know what changes before you change the loan.

Start with a planning comparison. Proceed only after reviewing the lender's actual terms, costs, disclosures, and decision.

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