Mortgage Refinance Rates

Refinance your mortgage at a low, fixed rate from 4.15% to 11.99% APR

APR Disclosure
Today's Refinance Rates
Term Options
Rate Range:
APR Disclosure
30-Year Fixed Rate
4.15% - 11.99% APR
20-Year Fixed Rate
4.15% - 11.99% APR
15-Year Fixed Rate
4.15% - 11.99% APR
10-Year Fixed Rate
4.15% - 11.99% APR
Product Terms
Loan Amounts
$35,000-$200,000
Payments
Fixed Monthly Payments
Terms
10, 15, 20 & 30 Years

Loan Payment Example

Application Fees
$0
Origination Fees
$0
Appraisal Fees
$0
Charges at Closing
$0

Discover Home Loans pays all closing costs incurred during the loan process, so that you don’t have to bring any cash to your loan closing.

In the event that you decide to pay off your loan balance in full within 36 months after your loan closes, you will be required to reimburse Discover for some of the closing costs that we are paying on your behalf, not to exceed $500.00.

Reimbursable closing costs will include all title fees, recording fees, and mortgage/transfer taxes. If you reside in Connecticut, Minnesota, New York, North Carolina, Oklahoma, or Texas you are not required to reimburse the closing costs.

Why take a mortgage refinance loan from Discover

Balance Your Budget
We have your needs covered
We may be able to refinance your original mortgage, a HELOC, or an old home equity loan.
Balance Your Budget
Get a low rate or longer term
Put yourself back in control of a better financial situation with a mortgage reset.
Buy a New Car
Cash you need without the fees
Refinance and cash out your home equity with zero origination fees. 

Calculate your estimated mortgage refinance rate

Frequently asked questions

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Your APR is determined using factors like your credit history, loan amount, and the amount of equity you will have in your home after receiving the loan.

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Your interest rate is the direct charge for borrowing money.
The APR, however, reflects the entire cost of your mortgage as a yearly rate and includes the interest rate, origination charge, discount points, and other costs such as lender fees, processing costs, documentation fees, prepaid mortgage interest and upfront and monthly mortgage insurance premium. When comparing loans across different lenders, it is best to use the quoted APRs for the same type and term of loan.

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A mortgage refinance allows you to obtain a new mortgage loan replacing your current mortgage. At times when mortgage rates are low, you may want to consider a refinance to lower your rate so that you are paying less money over the life of your mortgage. You can also choose to extend or shorten your current loan term with your new loan depending upon your personal goals. You may also be able to take cash out of your equity when you refinance to use for a variety of purposes including home improvement, debt consolidation, or paying for major expenses or purchases. Many conventional refinance lenders charge closing costs when you refinance; however, Discover offers loans with zero application fees and zero cash due at closing.

 

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A cash out refinance is when you take a portion of your home's equity out as cash when refinancing your current mortgage. While a traditional refinanced loan will only be for the amount that you owe on your existing mortgage, a cash-out refinance loan will increase the amount of the loan, allowing you to both pay off your existing mortgage and take a lump-sum payment in cash for the additional amount of the loan. When mortgage rates are low, a cash out refinance may be advantageous over other types of credit like credit card, personal loans, or HELOCs that have a variable rate.

Discover’s cash out refinance loan has a low, fixed rates that never change for the life of the loan, as well as has no cash due at closing.

 

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Articles related to mortgage refinances and rates

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Start your application online or give us a call.

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  • Weekdays 8am–Midnight ET
  • Weekends 10am–6pm ET