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Get a Lower Mortgage Rate with Smart Refinance Solutions
Reduce your monthly mortgage payments and unlock financial flexibility.
How to Lower Your Monthly Mortgage Rate with Refinancing
Refinancing with Strong Home Mortgage can help you reduce your monthly payments and achieve financial freedom. Whether you’re looking to lower your interest rate, extend your loan term, or eliminate mortgage insurance, our team is here to guide you every step of the way.
Refinance to a Lower Interest Rate
Securing a lower interest rate on your mortgage may significantly reduce your monthly payments. If today’s rates are better than when you first took out your loan, or if your credit score has improved, refinancing could save you hundreds each month and thousands over the life of your loan. Strong Home Mortgage offers personalized refinance solutions to help you lower your rate, reduce your payments, and achieve long-term savings. It’s a smart way to manage your finances and reduce mortgage costs.
Extend Your Loan Term for Budget Relief
Extending your mortgage term from 15 to 30 years can lower your monthly payment and provide immediate savings. Although this option increases the total interest paid over time, it reduces the size of each monthly payment, offering much-needed financial relief. It’s an ideal solution for homeowners who need to manage other financial obligations or want more flexibility in their budget. Extending your loan term gives you more breathing room and helps you balance your monthly expenses more effectively.
Eliminate PMI or MIP to Lower Payments
You may be eligible to eliminate mortgage insurance (MI) on a conventional loan during a refinance if your home has appreciated to the point where you owe less than 80% of the home’s new appraised value. Eliminating MI will result in a lower mortgage payment. In some cases, refinancing from an FHA loan to a conventional loan may make sense to drop the MIP payments, resulting in a lower monthly payment. At Strong Home Mortgage, we offer personalized solutions to help you choose the right loan for your goals.
Simple Steps to Refinance Your Mortgage
- Consultation — A loan officer helps set up your refinance application
- Submit Documents — Upload your financial records securely through our portal
- Underwriter Review — An underwriter reviews your documents and eligibility
- Approval — Finalize your refinance terms and secure your new lower rate
- Close with Confidence — We ensure a smooth, hassle-free refinance process, so you can start saving sooner.