RefinanceCalculator Home Equity Review

Rating: 6.9 / 10 (Very good)
Disclosure: We receive advertising revenue from this partner. Learn more.
How is RefinanceCalculator rated?
Consumer Experience is an online mortgage refinance marketplace that can connect prospective customers with hundreds of refinance lenders in their state. Oftentimes, a cash-out mortgage refinance can be an excellent alternative to a home equity loan. A traditional home equity loan functions essentially as a second mortgage. In it you borrow a certain amount against the equity you have accrued in your home. With mortgage refinance, instead of taking a second loan and making two payments a month, you take advantage of better APRs to replace your first mortgage with a new one, typically with lower payments or a different term. The cash-out component comes into play when you've built up sufficient equity to remove it in the form of cash and add it to the renegotiated loan. This could mean better APR, lower monthly payment, and cash to use for whatever you want. Typical things people use the money from a cash-out mortgage refinance are: unforeseen medical bills, home improvements, or college tuition. will search hundreds of lenders in your state and provide you with the five best offers. The whole process is entirely online and you'll receive quotes on your mortgage refinance within a couple of minutes. RefinanceCalculator offers this as a free service and getting a quote does not affect your credit score.

Mortgage Refinance Options with

Fixed Rate Mortgages

Adjustable Rate Mortgages

FHA, VA and HARP programs


Qualification accepts fair credit scores when applying for mortgage refinance. During the online application process, the company even offers options for those with poor credit scores, foreclosures and bankruptcy. Choosing these options still yielded results from two mortgage refinancing companies.   

Generally speaking though, in order to qualify for a loan from you will need a fair or better credit score (650-699), a debt to income ratio of 40% or better, and prove steady employment.

Refinance Mortgage Rates

*** Mortgage lender and mortgage rates are subject to creditworthiness and availability in your area.

RefinanceCalculator-Final Thoughts

RefinanceCalculator is an extremely effective online resource for connecting customers with the best possible refinance deals in their area. The online application is free, quick, requires minimal information, and you don't have to provide a social security number so your credit will not be affected. As mentioned above, if you are looking for a home equity loan you may also want to consider the similar advantages of a cash-out mortgage refinance. This could mean lower rates, lower monthly payments, and cash all the same. is a good place to look as you will be able to choose from multiple offers.

Start your review for RefinanceCalculator Home Equity