How it Works


Introduction to Refinancing

What We Do

Refinancing a loan is often one of the most significant financial decisions you can make. There are many factors about your future that need to be considered to understand if refinancing makes sense for you. Of course, the first step is understanding when lenders can offer you a lower interest rate or when they can lower your monthly payment.

That's where MonitorMyRefi comes in! We are constantly monitoring interest rates offered by lenders and let you know when the timing may be right to refinance for loan.


How To Set Up Your Account

Always know when you can  Refinance Your Loan?

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Add Your Loans

Securely share the details of the loans you'd like us to track and we'll do the rest

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Get An Alert

We'll notify you when we've identified a great opportunity to refinance your loan (whether its today, or 10 years from now)

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Complete Your Refi

Complete your refi directly with any lender you choose, or ask MonitorMyRefi to help you evaluate your options before choosing a lender


Lower Your Rate or Lower Your Monthly Payment

We'll notify you when we discover any any great refinancing opportunities

Rate Reduction



Could You Save Money?

Very Likely

Receive Alerts via MonitorMyRefi



Request offers & get support

You can request offers from lenders and/or ask MonitorMyRefi for support in understanding your options

Refi Point

Select the loan you’d like to receive offers for


Refi Point 2

Assess the offers on your own, or with support from us


Refi Point 3

Complete your refi directly with the lender



Benefits of Refinancing

Lower Your Interest Rate

The most important benefit to achieve when refinancing your loan, is to lower the interest you are paying. Maybe your credit has improved since you took out your original loan, or maybe the markets have changed. Whatever the reason, if you lower the interest rate on your loan, you could reduce your monthly payment substantially.

Pay Your Loan Off Earlier

Depending on how much you can lower your interest rate, you may be able to shorten the term of your loan while keeping your monthly payments at-or-below your current amount. If this is achieved, you'd be able to pay your loan off faster while also paying less money out of pocket towards interest over the life of the loan.


Change The Terms Of Your Loan

Maybe you have an adjustable-rate loan and want to convert it to a fixed-rate loan, or maybe you want to stop paying insurance by switching to a conventional loan. Factors like these can be adjusted by changing the type of loan you have through refinancing the loan.

Use Equity To Borrow Money

If you're in need of cash you may be able to access funds through equity you've accumulated in the asset collateralizing your loan. A cash-out refinance allows you to leverage a the equity accumulation and borrow additional funds.


Pros & Cons

Like most financial strategies, refinancing has both advantages and disadvantages


  • You could lower your interest rate.
  • You could lower your monthly payment and save more each month.
  • You could pay your loan off sooner
  • You could tap into equity and receive cash for you to spend on other items in your life.
  • You could consolidate multiple loans into a single loan with one payment with one interest rate.
  • You may be able to cancel additional charges and/or fees you were previously paying on your loan.


  • You’ll have to pay closing costs.
  • You might have a longer loan term, adding to your costs and delaying your payoff date.
  • You could have less equity in your home if you take cash out.
  • You might need to deal with borrower’s remorse if rates drop substantially after you close.
  • It’s not an overnight activity: The refinancing process can take between 15 and 45 days or more.
  • Your credit score will temporarily take a hit.


Hear From The Borrowers Who
Trust MonitorMyRefi!

John Carter
Los Angeles, CA

Once I was notified that refinancing at a lower rate was possible, MonitorMyRefi showed me REAL rates from each lender.

William Becke

Knowing that MonitorMyRefi doesn't "sell" me data and is working on my side is really comforting. It was great just working with one company throughout the process.

Andy Smith
San Antonio, TX

I never have to wonder if I should be refinancing my loans because MonitorMyRefi is keeping track for me.