Rate & Term


Save on Your Monthly Mortgage Payment

Are you a homeowner looking to save money on your mortgage or pay it off faster? A rate and term refinance might be the solution you need. In this comprehensive guide, we'll explain what a rate and term refinance is, how it works, and the key benefits it offers.

What is a Rate & Term Refinance?

A rate and term refinance, also known as a no-cash-out refinance, is a mortgage refinancing option that allows you to adjust your loan's interest rate and term while keeping your existing loan balance. This means you won't receive any cash from the refinance, but it can lead to significant savings over the life of your mortgage.

Key Benefits of a Rate and Term Refinance

Lower Interest Rate:

By refinancing your mortgage, you can secure a lower interest rate, which can result in reduced monthly payments and long-term savings.

Shorten or Lengthen Your Loan Term:

You can choose to shorten your loan term, allowing you to pay off your mortgage faster and save on interest. Alternatively, you can extend the term to lower your monthly payments, providing more financial flexibility.

Fixed to Adjustable Rate Conversion:

If you currently have a fixed-rate mortgage but want to switch to an adjustable-rate mortgage (ARM) or vice versa, a rate and term refinance can facilitate this transition.

Improved Financial Stability:

Lower monthly payments or a shorter loan term can enhance your financial stability and help you achieve your long-term financial goals.

Is a Rate and Term Refinance Right for You?

We'll help you assess whether a rate and term refinance aligns with your financial goals and provide insights to make an informed decision.

Contact us for a free strategy call


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Equal Housing Opportunity © 2023 Apache Mortgage Inc, 695 Town Center Dr., Suite 1200, Costa Mesa, CA 92626, 949-799-4329. NMLS ID # 2454357 DRE # 02209550. For licensing information go to www.nmlsconsumeraccess.org. Trade/service marks are the property of Apache Mortgage Inc and/or its subsidiaries or affiliates. Information is intended solely for mortgage bankers, mortgage brokers, and financial institutions. For more information, review Apache Mortgage Inc's state licenses and important notices. Co-op loans not available. Some products may not be available in all states. Information, rates and pricing are subject to change without prior notice at the sole discretion of Apache Mortgage Inc, Mortgage Broker. All loan programs are subject to borrowers meeting appropriate underwriting conditions. This is not a commitment to lend. Other restrictions apply. [06-2023]