Learn what refinancing is, why homeowners refinance, typical closing costs, and how to weigh those costs against long-term savings with Roxanne Chung.
Roxanne Chung, Lic. Mortgage Broker
The Loan Pros Team Inc
Phone: (754) 707-5877
Email: [email protected]
NMLS# 546205
Company NMLS# CORP NMLS 1837119
Licensed in: FL, GA
Learn what refinancing is, why homeowners refinance, typical closing costs, and how to weigh those costs against long-term savings with Roxanne Chung.
Products
Loan Program · Refinance
Costs, Benefits & Long-Term Savings
Thinking about refinancing? Start here — a clear look at what refinancing is, why homeowners do it, what it typically costs, and how those costs stack up against potential savings.
Quick Snapshot
Figures are illustrative ranges — your actual costs and savings depend on rate, credit, equity, and loan type.
Definition
Refinancing means replacing your current mortgage with a new loan — usually to secure a better rate, change the term, switch loan types, or access equity. The new lender pays off your existing mortgage; you then repay the new loan under the updated terms.
It is not a free reset. Closing costs apply, and the new loan starts its own clock. The decision is whether the long-term benefit outweighs those upfront costs for your situation.
How the Process Works
Motivations
Most refinances fall into one of a few clear goals. Knowing yours first keeps the math honest.
Closing Costs
Expect closing costs in the ballpark of 2%–5% of the new loan amount. Exact fees vary by lender, property, and location — here is what usually shows up on the Loan Estimate.
Tip: Ask for a side-by-side of cash-to-close vs. rolling costs into the loan so you can compare monthly impact and total interest.
Break-Even Math
A refinance pays off when lifetime (or planned-ownership) savings exceed what you spend to close. Lower payments feel good on day one — lasting value comes from clearing the break-even line and keeping the home beyond it.
Example illustration
$4,200 closing costs · $175/mo savings
Hypothetical only — not a quote or guarantee. Your numbers will differ based on rate, fees, and loan balance.
FAQ
Straight answers for homeowners weighing the decision.
Next Step
Roxanne and The Loan Pros Team will map your rate options, closing costs, and break-even timeline — so you can decide with confidence.
Company
The Loan Pros Team Inc
NMLS #1837119 Licensed in FL & GA
Your Loan Officer
Roxanne Chung
Licensed Mortgage Broker · NMLS #546205
Contact
18503 Pines Blvd Suite 310, Pembroke Pines, FL 33029
Mailing: 16000 Pines Blvd Unit 822842, Pembroke Pines, FL 33082
754-707-5877
www.theloanprosteam.com
The Loan Pros Team Inc | NMLS #1837119 · Roxanne Chung, Licensed Mortgage Broker | NMLS #546205 · Licensed in FL & GA · 18503 Pines Blvd Suite 310, Pembroke Pines, FL 33029. All loans are subject to credit approval, underwriting review, and property qualification. Rates, terms, programs, eligibility requirements, and availability are subject to change without notice. This is not a commitment to lend or an offer of credit. This communication is not tax or legal advice; please consult a qualified professional about your specific situation. Equal Housing Lender.
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