Refinance Loan
Refinancing is not just about getting a lower rate. It is about making sure your mortgage still fits your life. Whether you want to lower your monthly payment, shorten your loan term, access equity, or simply review your options, a refinance can be a smart financial move when the strategy makes sense.
At Preferred Rate, we believe borrowers deserve clear guidance, real numbers, and honest answers so they can make the decision that fits their goals. That approach aligns with your brand’s emphasis on transparency, partnership, and direct support.
As seen in:
Top military lender
NMP
Top mortgage lender
Scotsman guide
5-Star Lender
MPA
TOP LENDER
CALHFA
TOP EMPLOYER
DIVERSITY JOBS
TOP 100 MORTGAGE COMPANIES
MORTGAGE EXECUTIVE
5-STAR LENDER
Mortgage Professional America
TOP 250 LATINO MORTGAGE ORIGINATORS
NAHREP
MOST LOVED MORTGAGE EMPLOYERS
NMP
TOP MORTGAGE LENDER
Scotsman Guide
TOP MILITARY LENDER
NMP
TOP 15 VA LENDER
Scotsman Guide
Product highlights
- Available for homeowners looking to replace their current mortgage with a new loan
- Can be used to lower a monthly payment, adjust loan term, or access equity
- Fixed-rate and adjustable-rate options may be available
- Rate and term refinance and cash-out refinance options available
- Conventional, FHA, and VA refinance options may be available for qualified borrowers
- Loan structure is based on property type, occupancy, equity position, credit profile, and financial goals
- Designed to help homeowners create a mortgage strategy that fits their current needs
Borrower advantages
- Potentially lower your monthly mortgage payment
- Move from an adjustable rate to a fixed rate
- Shorten your term to pay off your home faster
- Access equity for home improvements, debt consolidation, or other major expenses
- Rework your mortgage around today’s goals, not the goals you had when you first bought the home
- Review your options with a mortgage advisor before making a decision
Frequently asked questions
With short and easy to understand answers.
Couldn’t find your answer?
[email protected]What is a refinance?
A refinance replaces your current mortgage with a new home loan, usually to improve terms, lower payment, access equity, or better match your current goals.
What is the difference between a rate and term refinance and a cash-out refinance?
A rate and term refinance changes the terms of your existing mortgage without taking equity out as cash. A cash-out refinance lets you replace your loan and pull out available equity.
Can refinancing lower my monthly payment?
In many cases, yes. That depends on your loan amount, rate, term, and closing costs.
Can I refinance if rates are not much lower than mine?
Possibly. A refinance can still make sense if you are changing your term, removing mortgage insurance, switching loan types, or accessing equity.
Do I need equity to refinance?
Usually, yes. The amount of equity needed depends on the loan type and your overall qualifications.
Can I refinance into a shorter loan term?
Yes. Many borrowers refinance from a 30-year term into a 20-year, 15-year, or other shorter option depending on goals and budget.
Will I need an appraisal?
Sometimes. That depends on the loan type, property, and program guidelines.
How do I know if refinancing is worth it?
The best way is to compare your current mortgage against your new options, including payment, long-term cost, cash needed, and break-even point.
Couldn’t find your answer?
[email protected]Loan Programs
DSCR Loans (Investment Loans)
Featured
1% Home Loan Program
Featured
Conventional Loans
Featured
Down Payment Assistance (DPA)
Featured
Low Down Payment Loans
Home Renovation
HELOC Loans
Bank Statement Loans
Construction Financing
Manufactured Home Loans
Medical Professional Loans
Condominium Loans
First Responders | Nurses | Teacher Loans
Bridge Loans
Temporary Buydowns
Loans for Foreign Nationals
Click n’ Close SmartBuy National DPA
Expanded Credit Loans
Loan Programs
DSCR Loans (Investment Loans)
Featured
1% Home Loan Program
Featured
Conventional Loans
Featured
Down Payment Assistance (DPA)
Featured
Low Down Payment Loans
Home Renovation
HELOC Loans
Bank Statement Loans
Construction Financing
Manufactured Home Loans
Medical Professional Loans
Condominium Loans
First Responders | Nurses | Teacher Loans
Bridge Loans
Temporary Buydowns
Loans for Foreign Nationals
Click n’ Close SmartBuy National DPA
Expanded Credit Loans
Home Loan Guides & Checklists
Doctor Loan
Finding The Right Home For You
STaR Loans
Which Mortgage Loan is Right for Me
5-Step road map of the loan process
Am I Financially Ready to Buy My First Home?
Top reasons to consider a cash-out refinance
VA Loans for Purchase and Refinance
Ready to take the next step?
Set your target interest rate and we’ll notify you when it hits. No spam, just smart alerts.
- Competitive rates
- Expert support
- Easy process