Better Rate. Better Terms. Better Future.
A rate and term refinance lets you replace your current mortgage with one that has a lower rate, a different term, or both—without taking cash out.
How It Works
Optimize Your Mortgage
A rate and term refinance is the most common type of refinance. It allows you to adjust your interest rate, loan term, or both to better fit your financial goals—whether that's lowering monthly payments or paying off your home faster.
Key Advantages
Why Refinance Your Rate or Term
Small changes to your rate or term can have a big impact on your finances over the life of your loan.
Lower Monthly Payment
Even a 0.5% rate reduction can save you hundreds per month. Lower payments free up cash for savings, investments, or everyday expenses.
Shorten Your Loan Term
Move from a 30-year to a 15-year mortgage and save tens of thousands in interest. Build equity faster and own your home outright sooner.
Lock in a Fixed Rate
If you have an adjustable-rate mortgage (ARM), refinancing to a fixed rate protects you from future rate increases and gives you predictable payments.
Drop Your PMI
If your home has appreciated and you now have 20% equity, refinancing can eliminate your private mortgage insurance—potentially saving $100–$300 per month.
$150
Avg Monthly Savings
15yr
Shortest Term Available
30min
Application Time
Questions & Answers
Frequently Asked Questions
Consider refinancing when current rates are at least 0.5% to 1% lower than your existing rate, when you want to switch from an ARM to a fixed rate, when you want to shorten your loan term, or when your credit has improved significantly since your original loan.
Ready to Lower Your Rate?
See how much you could save with a rate and term refinance. Apply today and our team will find the best option for your situation.