A rate and
term refinance refers to a mortgage where the
customer is only looking to change the terms of
their loan and not get cash out. There are a
number of reasons to refinance your mortgage but
the most popular is to reduce ones interest rate
or shorten the term of their loan. Other
possible reasons are to improve cash flow by
going into an interest only loan, or longer-term
amortization, or to provide you with more
long-term security by refinancing from an
adjustable rate mortgage into a fixed rate. The
best way for you to see if refinancing is right
for you is to give us a call and have your
financing options clearly presented to you.
