Rate and Term Refinance
Lower your monthly payments or shorten your term
A rate-and-term refinance replaces your current mortgage with a new one at a better interest rate or different loan term. This is the most common type of refinance — designed to save you money without changing your loan balance.
Key Features
- Lower your interest rate
- Reduce monthly payments
- Shorten your loan term
- Switch from ARM to fixed rate
Who Is This For?
Homeowners who want a lower rate, different loan term, or to switch from an adjustable to fixed rate.
NMLS #2620616
Equal Housing Lender
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Livonia, MI
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Zoom Home Lending, LLC — NMLS #2620616