30-Year Fixed Mortgage Refinance Interest Rates in Portsmouth, NH

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Showing results for: 30-Year Fixed refinance offers for Single Family or Townhome properties in NH, total loan amount of $228,000.

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When Should I Refinance to 30-Year Fixed in Portsmouth?

In Portsmouth's hot market with 23.4% annual appreciation, refinance when you can reduce your rate by 0.75%+ or access equity. If you purchased 2-3 years ago, rapid appreciation likely built substantial equity. Refinancing a $484,240 loan (80% of Portsmouth's $605,300 median) from 7% to 6% saves $319/month. With closing costs around $12,106, you break even in 38 months. The 30-year term keeps payments low while Portsmouth's appreciation builds equity automatically.

Should I Do Cash-Out Refinancing to 30-Year in Portsmouth?

With 23.4% appreciation in Portsmouth, cash-out refinancing makes sense if you have substantial equity. If your home appreciated from $605,300 to $696,095 over 3 years, you could access up to $72,636 while keeping 20% equity. Popular uses: high-ROI renovations (which compound with Portsmouth's growth), investment properties, debt consolidation. Cash-out 30-year rates run 0.25-0.5% higher than rate-and-term, but the extended term keeps payments manageable even with a larger loan balance.

How Much Will I Save Refinancing to 30-Year in Portsmouth?

Monthly savings depend on your rate reduction. Refinancing $484,240 from 7% to 6% saves $319/month in principal and interest. However, your total PITI payment in Portsmouth includes $1,100/month property tax (at 2.18% of home value). Your actual payment drops from approximately $4,472 to $4,153 total. Over 30 years, you'll save over $115k in interest-plus Portsmouth's appreciation builds additional equity.

What Are 30-Year Refinance Closing Costs in Portsmouth?

Closing costs in Portsmouth typically run 2-3% of your loan amount. On a $484,240 refinance, expect $9,685-$14,527, including appraisal ($400-700), title insurance, lender fees (0.5-1%), and escrow setup. Divide closing costs by monthly savings to find break-even: $12,106 ÷ $319 = 38 months. In hot markets like Portsmouth, strong appreciation shortens effective break-even since rising home values increase refinanceable equity over time.

How Does Portsmouth's Property Tax Affect 30-Year Refinancing?

Property taxes at 2.18% of Portsmouth's home values add $1,100/month to a median-priced home. When refinancing to a 30-year fixed, your principal/interest payment changes but property tax stays constant. If you're quoted a new rate, calculate P&I savings ($319 in our 7%→6% example), then add back property tax and insurance for true monthly cost. Also remember: as Portsmouth homes appreciate 23.4% annually, your assessed value-and thus property tax-may increase over the loan's life.