Lower Your Payment

When interest rates are low, many home owners consider refinancing their mortgage. A lower interest rate could mean a lower monthly payment, which in turn translates into significant savings over the life of the loan. There are several options for lowering your interest rate. Depending on your current mortgage terms and financial situation, you may qualify for one of the following refinance programs:

  • Fixed Rate Mortgage: Refinancing a home with a fixed rate mortgage offers consistency that can make it easier to set a budget because the mortgage interest rate and monthly payment stay the same for the entire term of the loan.
  • FHA Refinance Program: If you currently have an FHA loan, the FHA Refinance Program can be an easy way to lower your debt and interest rate. Using the program, a borrower can refinance debt up to 95% of the home's value.
  • VA Interest Rate Reduction Refinance Loan (IRRRL): A federally insured loan program that helps veterans refinance their existing VA Home Loan into a loan with a lower interest rate. This loan has accessible loan qualifications and provides a great way to lower monthly payments.

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