July 30, 2025
9 minutes
Let’s be honest, refinancing your mortgage sounds like a headache. Paperwork, fees, rate shopping, credit pulls. But when rates drop or your finances improve, the potential savings are hard to ignore.
Here’s the kicker: many homeowners stick with their current lender just to avoid the hassle. But is loyalty worth the cost? Or are you leaving thousands on the table?
Key Takeaways:
- Refinancing with the same lender may offer speed and convenience, but not always the best rates.
- Comparing multiple offers is critical, even from new lenders.
- Credit checks, closing costs, and home equity impact your refinance approval.
- Always request a Loan Estimate to compare APRs and fees.
Why Homeowners Refinance With Their Current Lender
Speed. Familiarity. Fewer hoops.
There’s a clear appeal to staying with your existing lender:
- Streamlined process: They already have your data, which can speed up approval.
- Less paperwork: No need to re-upload everything (though some re-verification is still required).
- Possibly waived fees: Loyalty perks may include reduced or waived application or appraisal fees.
- Comfort zone: You know their process and how to reach support.
But here’s a pro tip: convenience doesn't always equal savings.
Get Pre-Qualified and Save Up to 1.5% at Closing with reAlpha
Save up to 1.5% at closing when you combine real estate and mortgage services with reAlpha.
What You Risk By Not Shopping Around?
Choosing familiarity over financial advantage could mean:
- Missing lower rates elsewhere
- Paying higher closing costs
- Overlooking better loan structures (shorter terms, lower APRs, etc.)
Even if your current lender offers a decent deal, failing to compare violates the golden rule of refinancing: always get a few quotes.
What Experts Say?
According to a Freddie Mac survey, borrowers who get at least two quotes save an average of $1,500, and those who get five or more quotes save $3,000+.
Don’t leave that money behind.
Steps to Refinance With the Same Lender
- Check Your Credit Score: Higher scores usually mean lower rates.
- Request a Loan Estimate: Required by law under TILA/Reg Z. It will outline the APR, interest rate, fees, and terms.
- Ask About Fees: See what’s negotiable-appraisal, title, origination, etc.
- Compare With Other Offers: Even one additional quote can change everything.
- Confirm Timeline: How fast can they close? Is the rate lock long enough?
When Does It Make Sense to Stay With the Same Lender?
- You need speed: A quick close is essential.
- They match the best offer, and they’ll lock it immediately.
- Low-to-no fees: You're offered significant cost savings.
- You’re happy with their service, and rate differences are minimal.
Just remember: loyalty isn’t a strategy, it’s a choice. Make sure it’s an informed one.
What About Closing Costs?
Even with the same lender, you’ll likely face:
- Origination fees
- Appraisal costs (sometimes waived)
- Title & escrow
- Prepaid taxes/insurance
Heads up: These can total 2–5% of your loan amount.
Pro Tip
Use reAlpha’s AI-powered platform to simplify homebuying. That’s expert support, cashback, and real savings.
Buying a Home? Get up to 1.5% Cash Back at Closing
Get pre-approved first, and start exploring homes knowing you may get part of the home price back at closing.
Explore Alternatives: realpha & reAlpha Mortgage
While sticking with your lender might feel “safe,” modern digital platforms are shifting the power to you:
- realpha : A commission-free, buyer-first homebuying platform. Compare offers, skip markups, and get support without sales pressure.
- reAlpha Mortgage: A licensed mortgage lender (NMLS #1743790) providing comprehensive home financing solutions with personalized support, transparent pricing, and opportunities for significant savings through commission rebates.
reAlpha Mortgage empowers you to refinance smart-with full compliance, expert guidance, and potential for major savings at closing.
FAQs
Is refinancing with the same lender faster?
Yes, generally it’s faster because they already have your file. But speed doesn’t guarantee the best rate or lowest fees.
Will my credit be pulled again?
Yes. Even with the same lender, a hard credit inquiry is standard. You typically have a 45-day window to shop rates without multiple score dings.
Can I avoid an appraisal?
Yes - reAlpha Mortgage may waive appraisals on low-LTV refinances or through automated approvals. Always ask your loan officer for options.
What’s a Loan Estimate, and why does it matter?
It’s a required document under TILA (Reg Z) that outlines your loan’s APR, interest rate, closing costs, and terms. reAlpha Mortgage provides this to help you compare offers transparently and confidently.
Do I need to pay closing costs again?
Yes, but some may be reduced or rolled into the loan. Always ask.
Conclusion: Think Smart, Compare Wisely
Buying a home is a big decision - and having the right information puts you ahead. But the real advantage comes from pairing smart research with a smarter way to buy.
When you use a reAlpha real estate company, you can be eligible to receive up to 1% of the home purchase price back as a credit at closing. Add reAlpha Mortgage, and that rebate can increase to up to 1.5% back, helping offset closing costs and keep more money in your pocket when it matters most.
The rebate is simple, transparent, and applied directly at closing - no complicated hoops, no delayed payouts. Just real savings tied to using a fully integrated homebuying experience.
See how much you could save:
- Check your eligibility
- Explore homes that fit your budget today.
- Your next move could come with thousands back at closing.
Estimate your savings → Rebate Calculator
Ready to refinance smarter and save thousands? Explore your savings with reAlpha Mortgage
Disclosures:
- reAlpha Mortgage is a licensed lender (NMLS ID: 1743790). All mortgage transactions are subject to credit approval and underwriting.
- Rates, APRs, and loan availability vary based on your borrower profile and market conditions.
- Always request official Loan Estimates to compare offers accurately.
- Visit reAlpha Mortgage to learn more.
This content complies with applicable federal regulations, including TILA/Reg Z, RESPA, and Regulation N, and does not promote any unfair, deceptive, or abusive acts or practices (UDAAP).
Get the latest market trends, homebuying tips, and insider updates—straight to your inbox. No fluff, just the good stuff.
Article by
Rocky Billore is a mortgage industry leader and Chief Sales Officer with over two decades of experience across residential and commercial lending. Since entering the industry in 2004, he has been directly involved in funding more than $1.4 billion in loans. A recognized expert in VA and government lending, Rocky combines deep program knowledge with a data driven, relationship-first leadership style. His work focuses on building scalable sales organizations, developing high performing teams, and aligning technology with real world lending outcomes to improve the homeownership experience.