Refinance · Michigan

Refinance when the math says so — not when a bank says so.

Rate too high? Payment too big? Equity sitting idle? A refinance is just arithmetic: what it costs versus what it saves, and how long until you're ahead. I run that math in the open, price it across dozens of wholesale lenders, and tell you plainly if the answer is "keep the loan you have."

Run My Refi Math → Join The Refi Watchlist

Rob McKenney · NMLS #23394 · 20+ years · 1,000+ Michigan families · 5.0★ on Google

The Menu

Four refis. Four different jobs.

"Refinance" isn't one product. Which one fits depends on what you're solving for — payment, payoff speed, cash, or mortgage insurance.

Rate

Rate / Term Refinance

Lower the rate, shorten the term, or both. The classic refi — lives or dies on break-even math, which we run before anything else.

Cash

Cash-Out Refinance

Replace your mortgage with a bigger one and take the difference in cash. Wins when your current rate is already near market — otherwise a HELOC or second usually protects you better.

IRRRL

VA Streamline

VA-to-VA rate reduction with reduced docs — typically no appraisal, no income verification. If you're a veteran who bought at higher rates, start here. VA details →

MIP

FHA-to-Conventional

Enough equity? Refinancing out of FHA kills the monthly mortgage insurance for good. Michigan appreciation has quietly qualified a lot of FHA borrowers for this.

100%

VA Cash-Out

Veterans can refinance a non-VA loan into VA and pull equity — up to 100% LTV in many cases. A benefit most veterans don't know they hold.

Watch

Not Today? Get Watched.

If the math doesn't clear yet, the Refi Watchlist tracks your loan against wholesale rates and pings you when it does. Set it, forget it.

The Honest Part

The break-even test decides everything.

Every refinance costs something. Divide the total cost by the monthly savings — that's how many months until you're actually ahead. Sell or refinance again before that month, and the refi lost you money no matter how good the new rate sounded.

This is why I won't pitch a refi off a rate sheet. I need your current loan, your plans for the house, and your goal — then the math either clears or it doesn't.

And if it doesn't clear today, that's what the Watchlist is for: your numbers, monitored, so the right moment finds you.

Why wholesale wins on refis

A refinance is the purest price competition in mortgage: same house, same borrower, same loan — the only variable is who prices it best that week.

Retail banks have one rate sheet. I have dozens, and lenders know they're competing for your loan.

On identical loans, competition is the whole difference. That's the wholesale advantage in one sentence.

Refi Questions

What Michigan homeowners ask me most.

When does refinancing actually make sense?

When the total savings outrun the total costs before you'd plausibly move or refinance again. That's a break-even calculation, not a slogan: costs divided by monthly savings equals your break-even month. I run that math with you, in the open. If it doesn't clear, I'll tell you to keep the loan you have.

What does a refinance cost?

Real costs exist — title, appraisal (when required), recording, lender fees — and anyone advertising a free refinance is burying them in the rate. Costs can be paid up front, rolled into the loan, or offset with lender credits at a slightly higher rate. Which is smartest depends on how long you'll hold the loan; we price all three ways.

Do you need to pull my credit just to price it?

No. I can give you a realistic picture with a soft pull or stated scores first — no hard inquiry until you decide it's worth moving on. You shouldn't have to spend credit-score points to find out if a refi makes sense.

I have a VA loan. Is my refi different?

Better, actually. The VA IRRRL streamline lets veterans with an existing VA loan drop their rate with reduced documentation — typically no appraisal and no income docs. If you bought when rates were higher, it's the fastest, cheapest refi in the business. Details on my VA loans page.

Can refinancing get rid of my FHA mortgage insurance?

Yes — that's one of the most valuable refis there is. Once your equity supports it, refinancing an FHA loan into conventional removes FHA's monthly mortgage insurance entirely. Michigan's appreciation has pushed a lot of FHA borrowers past that threshold without them realizing it.

What's the Refi Watchlist?

You enter your current loan once. When wholesale rates move enough to save you real money — your numbers, not a national average — my system texts and emails you. No spam, no credit pull, no commitment. It's how my clients refinance at the right moment instead of whenever a call center gets around to them. Join it here.