Rate & term refinance

Upgrade your mortgage and save

You could save time or money with a better rate, lower payment or new loan terms from Rocket Mortgage.

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Today's mortgage rates*

30-year FHA

5.625%

0.13%

APR

6.487%

Points

2 ($5,500)

30-year VA

5.625%

0.13%

APR

6.129%

Points

2 ($5,500)

30-year fixed

6.125%

0.00%

APR

6.429%

Points

2 ($5,500)

25-year fixed

6.125%

0.00%

APR

6.454%

Points

1.875 ($5,156)

20-year fixed

5.875%

0.00%

APR

6.225%

Points

1.625 ($4,469)

*Compared week over week. Rates are current as of 2:12 AM UTC on June 11, 2026

Legal disclosures

The Rocket Mortgage purchase rates are for estimation purposes only. Every situation is different. Results do not reflect all loan programs and are subject to individual program loan limits. Qualification, rates and payments will vary based on timing and individual circumstances. Mortgage rates and pricing could change daily. Actual payments will vary based on your individual situation and current rates. Some products may not be available in all states. Some jumbo products may not be available to first time home buyers. Lending services may not be available in all areas. Some restrictions may apply. This is not a commitment to lend.

30-year Fixed-Rate Loan: An interest rate of 6.125% (6.429% APR) is for the cost of 2.00 point(s) ($5,500.00) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,670.93. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

30-year FHA Fixed-Rate Loan: An interest rate of 5.625% (6.487% APR) is for the cost of 2.00 Point(s) ($5,500.00) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,696.96. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.5% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 60.00%, the 0.5% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

30-year Fixed-Rate VA Loan: An interest rate of 5.625% (6.129% APR) is for a cost of 2.00 Point(s) ($5,500.00) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,583.06. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

25-year Fixed-Rate Loan: An interest rate of 6.125% (6.454% APR) is for the cost of 1.875 point(s) ($5,156.25) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,792.91. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

20-year Fixed-Rate Loan: An interest rate of 5.875% (6.225% APR) is for the cost of 1.625 point(s) ($4,468.75) paid at closing. On a $275,000 mortgage, you would make monthly payments of $1,950.41. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 60.00%.

Assumptions

For all rates shown, unless otherwise noted, we assumed:
  • You're buying a single-family home that's your primary residence.
  • Closing costs will be paid up front, not rolled into the loan.
  • Your debt-to-income ratio is less than 43%.
  • Your credit score is 740.
  • You'll have an escrow account for payment of taxes and insurance.
  • One point is equal to one percent of the loan amount.

Rate & term refi benefits

Refinancing could help build financial prosperity, now and in the future.

Lower monthly payment

Save more each month and invest in what inspires you.

Shorter loan term

Own your home sooner and pay less interest to get there.

We make refinancing effortless

1

See what's possible

Compare rates, payment options, and discounts with zero credit impact.

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2

Apply from anywhere

When you’re ready, apply in minutes with a simple, online process.

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3

Get real support

Enjoy award-winning servicing that works behind the scenes to uncover new savings.
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Why refi now

Lock in a lower and/or fixed rate

Move into a rate that brings stability now and major savings over time.

Save more each month

Free up your cash for other expenses with a lower monthly payment.

Pay my mortgage off faster

Shorten your term to pay less interest and accelerate your path to payoff.

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We did the homework for you

Check out these guidelines. If your qualifications are close, consider reviewing your options with a Home Loan Expert.

Equity

If the numbers make sense, you could refi with as little as 5% equity in your home.

Check your equity

Credit

Typically, you’ll need a minimum credit score of 580 to qualify.

About credit

Finances

Your debt-to-income ratio should help keep your budget comfortable.

About debt-to-income

Your home

You’ll need a clear title and recent appraisal. We’ll help with this!

About appraisals

Frequently asked questions

We know you have questions, and we’re here to answer them.

With this type of refinance, you:

  • Apply for a new mortgage which pays off your existing one.
  • Choose a shorter or longer term with a new payment and interest rate.
  • Need to qualify based on factors like your credit and income.
  • Will pay closing costs that can be rolled into your new mortgage.

With Rocket Mortgage, the average is about 20 days, but this can be shorter or longer depending on how quickly we can verify certain details.

A rate & term refinance replaces your current mortgage with a new one, typically to lower your interest rate or change your loan term.

Unlike a cash-out refinance, you’re not borrowing extra money—just changing the rate, the term, or both to save over time.

Rocket Mortgage services the majority of the loans it originates. This means you’ll likely continue making your payments to Rocket Mortgage and enjoy our award-winning servicing for the life of your loan.

Yes, you can refinance with Rocket Mortgage even if your current loan is with another lender. Many homeowners choose to refinance with a new lender to get better rates, terms, or service.

 Learn more about ways to refinance

More options than ever before

So you’re more likely to find the right fit and less likely to waste time.

Important legal disclosures

Refinancing may cause finance charges to be higher over the life of the loan.