Loan Program
Mortgage Refinancing in Florida
Refinancing replaces your current mortgage with a new one. A rate-and-term refinance can change your payment, shorten your term, or remove mortgage insurance. A cash-out refinance lets you borrow against your equity for renovations, debt consolidation, or other goals. The right choice depends on costs, timing, and how long you'll stay.
Last updated October 7, 2026
Refinance requirements
| Types | Rate-and-term; cash-out; FHA and VA streamline options |
|---|---|
| Equity | Cash-out typically limited to a percentage of home value, varying by program |
| Credit and income | Re-qualification required for most refinances |
| Appraisal | Usually required; some streamline or waiver options exist |
| Closing costs | Can often be paid upfront or financed |
| Seasoning | Minimum time since purchase or last refinance may apply |
Florida-specific considerations
In Florida, a refinance involves documentary stamp taxes on the new note and intangible tax on the new mortgage amount, which are part of closing costs. Some circumstances allow reduced costs, so it's worth reviewing an itemized estimate.
Your homestead exemption and Save Our Homes cap stay in place when you refinance your primary residence, since ownership doesn't change. Many Florida homeowners also review insurance at refinance time — a new wind mitigation inspection may lower premiums and improve your overall payment.
Who a Refinance loan is for
- Homeowners wanting a different monthly payment or term
- FHA borrowers looking to remove mortgage insurance
- Homeowners using equity for renovations or hurricane hardening
- Borrowers consolidating higher-cost debt
- Veterans considering a VA IRRRL or cash-out
Step-by-step process
- 01
Goal review
Clarify what you want the refinance to accomplish.
- 02
Cost vs. benefit
Compare closing costs to savings and your timeline.
- 03
Application
Provide income, asset, and mortgage documents.
- 04
Appraisal and underwriting
Confirm value and clear conditions.
- 05
Closing
Sign; most primary-residence refinances have a three-day rescission period.
Related programs
Related guides
Refinance loan FAQs
When does refinancing make sense?
It can make sense when market conditions have improved since you got your loan, your credit has improved, you want a shorter term, you want to remove mortgage insurance, or you need to access equity. The key is whether the savings outweigh the costs within the time you expect to keep the loan.
What is a cash-out refinance?
A cash-out refinance replaces your mortgage with a larger loan and pays you the difference in cash. Maximum amounts depend on the program and your home's value. It's often used for renovations, debt consolidation, or major expenses.
How much does it cost to refinance in Florida?
Costs include lender fees, title, appraisal, and Florida documentary stamp and intangible taxes. Jennyffer provides an itemized Loan Estimate so you can compare costs to your expected benefit.
Can I remove FHA mortgage insurance by refinancing?
Often, yes. Refinancing from FHA to a conventional loan with enough equity can eliminate FHA mortgage insurance. Your home's current value and your credit will determine eligibility.
Will refinancing affect my homestead exemption?
No. Refinancing doesn't change ownership, so your Florida homestead exemption and Save Our Homes assessment cap remain in place.
How soon can I refinance after buying?
Some programs have seasoning requirements, often six months or more, especially for cash-out refinances. Requirements vary by loan type.
Ready to see what you qualify for?
Apply online in minutes, or estimate your payment first.
Equal Housing Lender. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, and property eligibility. Program availability, terms, and guidelines may change without notice. Information is for educational purposes only.