When to refinance, how to calculate break-even, and every refinance option for Florida homeowners.
Written by Renzo Johnson, Licensed MLO · NMLS #PENDING · Last updated: February 2026
- Rate-and-term refinance: lower your rate or change your term
- Cash-out refinance: access home equity as cash
- FHA Streamline: no appraisal, minimal docs for existing FHA borrowers
- VA IRRRL: no appraisal, minimal docs for existing VA borrowers
- Break-even calculation: total refinance costs ÷ monthly savings = months to recoup
- Rule of thumb: refinance if you can lower rate by 0.75-1.0%+ AND stay long enough
- Florida closing costs on refinance: doc stamp, intangible (new money only), title, lender fees
- No-closing-cost refinance: higher rate but $0 out of pocket