Mortgage Refinance & Home Equity Options

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Lower your rate, access cash, or adjust your term. Compare flexible options designed to fit your goals.

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What is a Mortgage Refinance Loan?

Refinancing your mortgage can help you lower your interest rate, adjust your loan term, or access cash from your home's equity without buying a new home. Whether your goal is to reduce your payments for instant savings, consolidate debt for a simplified budget, or create financial flexibility, our loan options are designed to make the most of your home's value with your current goals in mind.

Explore the Benefits of an Onity Rapid Refi for Your Refinancing Needs

Unlock Your Home's Potential with Mortgage Refinancing

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Loyalty Lock-In

We'll meet or beat any offer on a new loan or we'll pay your mortgage for one month!1

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Easy Process

Thanks to our digital application and asset review options, enjoy a fast and super simple loan process with less paperwork.

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Rate Redo

Refinance today. If rates drop later, you can refinance again—and your lender fees are on us.2

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Rate Alerts

Be the first to know when rates fall or new savings become available. Quick sign‑up, real‑time alerts.

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Real-Time Updates

Stay informed throughout the loan process with real-time updates and a built-in loan tracker.

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Real People

Our expert Loan Officers will walk you through options that suit your needs and are readily available to answer questions along the way. 

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What are the Benefits of Mortgage Refinance?

Refinancing your mortgage can offer a multitude of advantages. Here are some key benefits:

Lowering Your Interest Rate

This is one of the most common reasons homeowners refinance. Securing a lower rate can reduce your monthly mortgage payments and save you thousands of dollars over the life of your loan.

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Cash-Out Refinance

A cash-out refinance allows you to borrow more than what you currently owe on your mortgage and receive the difference in cash. These funds can be used for home renovations, education expenses, or other significant investments.

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Debt Consolidation

Refinancing can be a powerful tool for consolidating high-interest debt, such as credit card balances or personal loans. By taking out a new, larger mortgage, you can pay off these debts and roll them into a single, potentially lower-interest monthly payment. This simplifies your finances and can save you money on interest charges.

Changing Your Loan Term

Refinancing allows you to adjust the length of your mortgage.

Predictability

Switching from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage through refinancing provides payment predictability. Your monthly principal and interest payments will remain the same for the entire loan term, making it easier to budget and plan.

Free Up Cash

As mentioned above with cash-out refinancing, you can access the equity you've built in your home to obtain funds for various needs. This can be a strategic way to finance projects or manage other financial obligations.

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Take Cash Out
Review options for tapping into your home equity.
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Lower Payment Options
Review options to start saving on your mortgage.
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Today's Mortgage Rates
See where today's average market rates stand.
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Mortgage loans are subject to credit approval. Application approval is subject to complete underwriting review based on program guidelines; not all applicants may qualify. Limitations may apply. This is not a commitment to lend. Onity is not licensed to do business or originate loans for properties located in Hawaii. 

Any equity cashed out through refinance or a home equity loan will increase the mortgage balance(s) owed on the property. By refinancing your existing loan, your total finance charge may be higher over the life of the loan, and by obtaining cash through a home equity loan you may be increasing your combined loan to value ratio. Onity Home Equity Loans not available in HI, IL, MS, NJ, NY, DC, TN.  

1Loyalty Lock-In Details: The Onity Loyalty Lock-In program is designed to provide you with the most competitive mortgage offer. This applies to first lien forward mortgage products for purchase and refinance (all government and fixed-rate conforming conventional loans). To qualify, you must provide Onity Mortgage with a locked Loan Estimate (LE) from a competitor, dated within two (2) business days of your new mortgage loan application with us. Excludes offers from the builder’s preferred lender and Credit Unions. The competitor's offer must be for the same product type and loan terms. We will match or beat the competitor's offer by $500 total in cost, though the decision to match or beat remains at our discretion. This offer does not apply to loans already in process, and you can only utilize one comparison per loan application. By locking an Onity Mortgage loan, you confirm our offer was superior. If we cannot meet or beat the competitor's offer, to receive the payout, you must fund with that competitor, and you must provide a final Closing Disclosure as evidence. We will send you a gift card for your first principal and interest payment, up to $2,000 Please be advised that if you have received an Order of Discharge from a Bankruptcy Court, this communication is provided for informational purposes only and is not intended as a continuation of any action, any employment of process, or an attempt to collect, recover, or offset any discharged debt in any capacity. You are under no obligation to use or purchase any product or service reference herein.

2Rate Redo is available to customers who close a first lien purchase or refinance loan with Onity Mortgage with a completed application date before March 31, 2027. Onity Mortgage will provide a lender credit of up to $1,800.00 (either as a general lender credit or toward specific closing costs, reflected on the final Closing Disclosure) on a refinance of the loan with an application date within 12 months of the initial loan’s funding  date. The subsequent refinance must be on the same property as the initial loan. Lender credit is limited to the amount of origination fees charged and does not include discount points. One Rate Redo per property. Lender credit not to be combined with any other offers. The actual credit amount may be less than $1,800.00 based on the amount of the originations fee. Rate Redo not available on Texas cash-out refinances, FHA Streamline loans, or second liens. Additional seasoning requirements may apply. Refinance subject to borrower and property qualifications and credit approval. Not all applicants will qualify. Refinanced loan must meet agency and investor guidelines. Limited to the initial refinance of one qualifying loan.  Other conditions and restrictions apply. Offer subject to change at any time.