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What is your goal?

Purchase

When are you
looking to buy?

Within 30 days
2-5 months
6 months - 1 year
Unsure

How is your credit score?

Poor (619 or below)
Fair (620 - 679)
Good (680 - 719)
Excellent (720+)

Where are you
looking to buy?

How much are you
looking to spend?

$150 - 175k

What is your estimated
down payment?

18 - 21%
Please complete all fields.

Are you working with a loan officer?

Yes
No

Let's connect!

Please complete all fields.

Thank you for
reaching out!
A Loan Officer will be in contact with you soon.

Would you like to continue to complete your full application?

No, thanks.
Continue

What are your refinance goals?

Lower Rate
Smaller Payment
Shorter Loan
Unsure

Where are you currently living?

What is your current balance on your mortgage?

$75 - 100k

What is your estimated home value?

$150 - 175k
Please complete all fields.

Rate/Term Refinance Loan

A rate and term refinance allows you to change your interest rate or your loan term. When interest rates drop, it's a good idea to look into a rate and term refinance loan to see if you could lower your own interest rate or reduce the time left on your mortgage loan. Both Conventional and FHA loans can be refinanced this way.

Why a Rate/Term Refinance Loan?

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Better Interest Rate

A rate and term refinance allows for reduced interest rates. Your loan is refinanced into a mortgage loan which insures that you will receive the lowest interest rate available to you.

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Lower Monthly Payments

Because you are essentially starting your mortgage over, you will add some years to your loan term, but lower your monthly payments.

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New Mortgage Repayment Schedule

With a rate and term refinance loan, you will be able to negotiate a different mortgage loan term. You can add years to your mortgage or take them off.

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Years off Your Mortgage

With this refinance loan, you may be able to take several years off their mortgage term by negotiating for a 15 year mortgage.

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Steps to a Rate/Term Refinance Loan:

01

Get Pre-Approved.

Ruoff's mobile app, Loan Butler, can help you receive your pre-approval letter quickly. Plus, you can upload all required documents straight into the app to save you time and energy.

02

Speak with a Loan Officer.

Lock in your mortgage rate early and stay in the loop. Your Ruoff Home Mortgage Loan Officer will keep you and your agent updated every step of the way with our Milestone Updates.

03

Clear to close.

Thanks to Ruoff's Digital Closing Experience, you'll only spend 10 minutes with your loan officer and agent finalizing the purchase at closing.

I'm Interested in a Rate/Term Refinance Loan!

FAQs

How do I know if it’s time to refinance my home?

Refinancing depends on your unique situation as it compares to the constantly changing mortgage market. I’m always monitoring market conditions and keeping an eye out for ways to save you money. If you think your equity situation may have changed and would like to discuss your loan options, don’t hesitate to call or email me. I love hearing from my clients!

What does Refinancing mean?

Paying off one loan by obtaining another; homeowners can refinance to secure better loan terms or a lower interest rate.

When can I refinance my home?

You can usually refinance once you have owned the home at least 6 months. Sometimes a longer period is required.

Ready to get started with a Rate/Term Refinance loan?