Rate-and-Term Refinance
A rate-and-term refinance allows homeowners to modify their mortgage without taking cash out.
Down Payment
N/A
Min Credit Score
620+
Mortgage Insurance
None if >= 20% equity
Program Overview
Change your mortgage interest rate, loan term, or switch loan types without taking additional money out. Ideal when market rates drop or when you wish to pay off your home in 15 years instead of 30.
Key Benefits
- Lower monthly interest charges directly reducing monthly overhead
- No change to loan balance other than rolling in allowable closing costs
- Drop expensive FHA annual mortgage insurance once home values appreciate
- Gain interest savings that can total tens of thousands over the loan life
Qualifications
- Typically requires at least 3% to 5% equity
- Clean 12-month payment record
- Standard income/asset verification
Other Loan Programs
Cash-Out Refinance
Access your home's equity with a cash-out refinance in Las Vegas, Henderson, and throughout Nevada.
Conventional Home Loans
A Conventional Mortgage is the standard by which all other mortgage loans are measured. Explore 15 to 30-year fixed-rate and adjustable options in Las Vegas.
FHA Home Loans
FHA loan services help people with lower credit scores and limited savings become homeowners in Las Vegas.
First-Time Homebuyer Loans
Guidance and financing options for first-time homebuyers in Las Vegas, Henderson, and Clark County.
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