Rate & Term Refinance

A rate and term refinance replaces your existing mortgage with a new mortgage.
Lower your rate & monthly payment or change the term of the loan.
Refinance out of mortgage insurance.
Option to finance closing costs.
Example scenario
An economic downturn has lowered interest rates sharply. The Smiths have owned their home for seven years. To decrease their monthly payment and build equity faster, they refinance from a 30-year mortgage to a lower interest rate.