What is a Rate and Term Refinance?
Why You Must Go for a Rate and Term Refinance?
Rate & term refinance lets you change your loan terms for better payments & interest. Secure A New Mortgage With Better Terms & Flexible Options. Maximize savings on your loan over time.
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Rate and term refinancing is another type of refinance where an existing loan is replaced with a new loan that has completely different terms. The goal here is to secure a lower interest rate or adjust the loan term. Rate and term refinancing focuses solely on modifying the interest rate, loan duration, or both, without accessing additional funds.
You can secure a lower rate and save thousands over the loan term.
By adjusting the loan term, you can make your payments without stress.
You can close the loan on the set date and avoid the risks of foreclosure.
With rate and term refinance, you also have the option to switch loan types.