Rate and Term Refinance

No equity required

If you are just trying to refinance the loan you already have, and not take out any equity, the type of loan you are looking for is called a Rate and Term loan.

With this type of refinance you can change the term (or length of your loan) and you can also change the interest rate.

An example of just changing the term would be changing from a 15yr fixed, into a 30yr fixed rate mortgage; this will lower your monthly payment by basically doubling your loan term.

30 and 15 year fixed loans

If you are trying to pay off your loan faster, you can refinance a 30yr-fixed loan into a 15yr-fixed mortgage. Benefits of a 15yr mortgage include a lower interest rate, and lower overall interest paid over the life of the loan because of the shorter term. The drawback would be a higher monthly payment.

Short term loans

Another way you can benefit from a “Rate & Term Refinance” would be to get a short term “2yr Credit Repair”, “3yr ARM”, “5yr ARM” to name a few.

Most of these types of loans are fixed for a short 2, 3, or 5 yrs; they will become adjustable for the remaining 28, 27, or 25yrs of the loan respectively.

You should only use these types of loans for a few years, then sell or refinance into your next loan. You can save a substantial amount of money by using these loans.

Everything will depend on how long you expect to stay in your home before you sell it, or how soon you want to pay off your home.

Improve your credit ratings

If you are one of the millions of people with credit challenges, you may want to look into a “2yr Credit Repair Loan”. This way, you will get a fixed rate for 2yrs, then you can refinance into a better rate.

By paying your mortgage on time for 18 to 24 consecutive months, you can drastically improve your qualifications for refinancing.

Use us to simplify the process

There are many different loans out there and it can be overwhelming, but it doesn’t have to be that way. Just apply now online and the loan specialists through the Apply2Refi Lender Network will simplify the process for you.

Your qualifications will be matched with the loan programs that offer the solutions you seek. Apply online, and let the experts do the research for you.

Apply now

When you review all of the options that are available to you, you will know which offer will best fit your financial needs.