call icon

833-FL-BRAVO

call icon

786-429-3521

mortgage-banner

Rate and Term Refinance

A rate and term refinance allows homeowners to replace their current mortgage with a new one often featuring a lower interest rate, a different loan term, or both. The goal is to reduce monthly payments, minimize the total interest paid over time, and improve overall loan affordability. It’s a smart way to make your mortgage work better for you.

Apply Now arrow
Rate and term refiancing

Rate and Term Refinance Information

Refinancing your mortgage for a better rate or term can bring meaningful advantages. Here’s how:

  • Lower Monthly Payments: By securing a lower interest rate or extending your loan term, you can reduce your monthly mortgage payments—freeing up cash for other expenses or financial goals.
  • Save on Interest Over Time: A reduced interest rate or shorter loan duration can help you pay less in total interest, potentially saving you thousands over the life of your loan.
  • Improved Monthly Cash Flow: Lower payments mean more room in your budget. Whether you're saving, investing, or simply enjoying more financial freedom, improved cash flow is a valuable benefit.
  • Build Equity Faster: Refinancing into a shorter loan term can help you pay off your mortgage more quickly—allowing you to build home equity faster and own your property outright sooner.

Rate and term refinancing can be a smart move—but it depends on your current loan, financial goals, and long-term plans. If you're looking to reduce monthly payments, lower your interest cost, or pay off your home faster, this option may be worth exploring. At Bravo Mortgage, we’ll help you assess your situation and determine whether a refinance aligns with your needs.

Here’s a step-by-step look at how the process works:

  • Review Your Current Mortgage: Start by evaluating your existing loan terms to identify areas where refinancing could save you money or improve your terms.
  • Compare Lenders and Offers: Shopping around helps you find competitive interest rates and terms that work best for your situation. We’ll help you weigh your options.
  • Submit a Refinance Application:Once you choose a lender, you'll complete an application and provide financial documentation such as income verification, credit reports, and property details.
  • Appraisal and Underwriting: The lender will order a home appraisal and conduct underwriting to assess your credit, income, and home value before issuing a final loan decision.
  • Close Your New Loan: After approval, you’ll sign closing documents and pay any applicable closing costs. From there, your new mortgage takes effect—and you’ll begin making payments based on the updated terms.
Let’s See if Refinancing Makes Sense for You

At Bravo Mortgage, we’re here to simplify the refinancing process and help you make confident, informed decisions. If you're considering a rate and term refinance, let’s talk about how much you could save and how we can help you reach your financial goals faster.

Get In Touch With Us

We understand that every dream is unique and personal. If you're ready to take the next step or simply have questions.

Thanks! , you can now fill the form!