Mortgage Tools / Conventional refinance

Refinance NTB Check.

Review a borrower

01 / Loan details

Check net tangible benefit

Refinance program

Start with the example or enter scheduled first-lien amounts from the current mortgage statement and proposed Loan Estimate. Use the note rate rather than APR. Enter $0 for mortgage insurance when no monthly premium applies.

Which rate and payment should I enter?

Use the note rate, not APR, and the scheduled principal and interest plus applicable monthly mortgage insurance. Leave out taxes, homeowners insurance, and HOA dues.

Current loan Note rate (%) Monthly principal & interest ($) Monthly mortgage insurance ($) Remaining term (months, optional)

Proposed loan Note rate (%) Monthly principal & interest ($) Monthly mortgage insurance ($) New term (months, optional)

Net refinance costs ($, optional)

Include closing fees and points after credits, including amounts financed into the loan. Exclude escrow deposits, prepaid items, and cash-out proceeds.

02 / Live results

Borrower benefit

Enter the current and proposed loan terms

Monthly first-lien payment

Principal and interest plus monthly mortgage insurance. Compare taxes, homeowners insurance and other housing costs separately.

Monthly first-lien payment breakdown
Component	Current	Proposed
Principal & interest
Mortgage insurance
Total

Monthly payment change
Note rate change
Term change
Simple cost recovery

Cost recovery divides net fees by the initial monthly payment savings, rounded up to the next whole payment. Changes in rates, mortgage insurance or payment schedules affect actual savings. A longer term can lower the payment and increase total borrowing cost.

03 / Policy references

What the check covers

Fannie Mae RefiNow

The note rate must fall at least 0.50 percentage points and the monthly payment including applicable mortgage insurance must be lower. Confirm the loan is Fannie Mae-owned or securitized and verify the current product requirements, including property, qualifying income, seasoning and payment history.

Fannie Mae LL-2021-10 · Aug 26, 2026 ↗

Freddie Mac Refi Possible

The first-lien rate must fall at least 0.50 percentage points and the monthly payment including applicable mortgage insurance must be lower. Confirm the loan is Freddie Mac-owned or securitized and verify the current product requirements, including income, occupancy and payment history.

Freddie Mac Guide §4302.5 ↗

Standard and paused programs

The standard refinance sections define transaction and eligibility requirements. The calculator provides a side-by-side comparison for those paths. Fannie Mae’s High LTV option is paused and Freddie Mac’s Enhanced Relief option is suspended.

Fannie Mae High LTV status ↗ Freddie Mac Enhanced Relief status ↗

Policy references reviewed November 8, 2026. These figures cover the specified benefit checks only. Confirm the applicable agency or investor rules, lender overlays, and federal and state requirements with the lender. Use the disclosures to compare cash to close, term, and borrowing costs. CFPB guide to comparing Loan Estimates ↗