Compare Refinance Rate Options for Your Home

When you refinance, you’re not just chasing the lowest rate on a screen. You’re choosing how predictable your payment will be, how fast you build equity, and how much interest you’ll pay over the life of the loan.

This guide breaks down the main refinance rate options so you can talk with a lender from a stronger position and choose what fits your real life, not just a calculator. If you haven’t yet, you can also review our Refinance My Home overview and step-by-step refi process.

Fixed-Rate vs. Adjustable-Rate (ARM) Refinances

With a fixed-rate refinance, your interest rate stays the same for the entire term of the loan. Your principal and interest payment won’t change, which makes budgeting simpler.

With an adjustable-rate mortgage (ARM), your rate is fixed for an initial period, then can adjust at set intervals based on a market index. ARMs can start lower than fixed rates but may rise later.

  • Choose a fixed rate if: You want stability and plan to stay in your home long-term.
  • Consider an ARM if: You expect to move or refinance again before the rate can adjust and you’re comfortable with some risk.

Shorter Term vs. Lower Payment

You’ll also choose a loan term—how many years you’ll take to pay off the mortgage. Shorter terms (like 15 or 20 years) usually have higher monthly payments but lower total interest. Longer terms (25 or 30 years) reduce the payment but increase the overall interest cost.

  • Shorter term: build equity faster and pay less interest, but commit to a higher payment.
  • Longer term: lower payment and more cash flow today, but more interest over time.

Rate vs. Closing Costs

Every refinance has closing costs. Sometimes you can choose between:

  • a lower rate with higher upfront fees, or
  • a slightly higher rate with lower upfront costs.

The best choice depends on how long you plan to keep the loan. A lender can show you the “break-even point”—how long it takes for the lower rate to make up for the extra fees. If you won’t stay in the home that long, a lower-fee option may make more sense.

How BuyRefiLeads Fits In

We help you get to a real side-by-side comparison by connecting you with licensed lenders in your state who can show you different refinance scenarios:

  • Fixed vs. adjustable-rate options based on your credit profile.
  • Different terms so you can see payment and interest trade-offs.
  • Estimated closing costs and projected break-even timelines.

Once you see actual offers—not just ads—it becomes much easier to choose the rate structure that matches your plans.

Next Step: See Your Numbers

Use the form on this site to request a refinance review. You’ll be matched with a licensed lender who can show you rate options, answer questions, and help you decide whether refinancing today lines up with your goals.

Want to understand timing and milestones too? Read how the refinance process works next.