Rate-and-Term Refinance

What you need to know about refinancing

Refinancing your home with a rate-and-term loan is when you replace your current mortgage with a new home loan. This new mortgage will come with different terms, a new interest rate, and a new monthly mortgage payment that is typically more affordable in the long run. Homeowners often look into this option when there is a drop in market interest rates to lower their monthly mortgage payments. Or, maybe you’re looking to set a shorter or longer term for your loan.

There are also specific refinance options available for FHA loans, VA loans and USDA mortgages. Talk to a Certainty Loan Officer to evaluate your mortgage refinance options and find the best possible solution for your short and long-term financial goals.

*Certainty Home Lending is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the Federal government.

Reasons to Refinance

Lower your monthly mortgage payment

Reduce the term of your mortgage

Change your rate from an adjustable-rate mortgage to a fixed-rate, or vice versa

Eliminate private mortgage insurance