Lower Mortgage Payment

Lower Your Mortgage Payment

Lower mortgage interest rates provide homeowners with the perfect opportunity to refinance a home loan. Lower interest rates often mean lower monthly payments and can result in major savings over the life of the loan.


Sometimes borrowers are ineligible for lower interest rate loans due to their credit history. But if you’ve been making your payments consistently and borrowing responsibly over time, an improved credit score could qualify you for a new mortgage with a better interest rate.

Refinancing Options for Lower Payments

There are many loan programs available to homeowners looking to refinance their existing loans. A Global Equity Finance loan officer can help you explore your options and tell you more about the following programs:

Fixed-Rate Mortgage

Refinancing into a fixed-rate mortgage offers homeowners stability and security, as pre-determined interest rates make it easy to budget for the future.

Reverse Mortgage

For borrowers age 62 and above, a reverse mortgage can provide a means of turning home equity into cash and eliminating monthly payments altogether. Instead of making monthly payments to a lender, with a reverse mortgage, the lender will pay the borrower. The supplemental income this kind of mortgage generates can be used at the borrower’s discretion and can cover healthcare, home improvement, travel costs and more.

FHA Streamline Refinance Program

For homeowners who currently have Federal Housing Administration loans, the FHA Streamline Refinance Program allows you to lower your debt and current interest rate. Through the FHA’s program, homeowners can refinance debt up to 95% of the home’s value.

VA Interest Rate Reduction Refinance Loan (IRRRL)

This federally-backed loan program is designed to aid veterans and service members who are looking to refinance an existing Veteran Affairs home loan into one with a more affordable interest rate. Due to lenient eligibility requirements, obtaining an IRRRL can be an easy way to lower monthly payments.

Payment assistance

    • Refinancing qualifications are dependent on each borrower’s individual financial situation and existing mortgage terms. With a wide range of options to choose from, we suggest that borrowers consult with a refinancing specialist before making their final decision.
    • At Global Equity Finance, our loan professionals can identify which mortgages you qualify for and which can deliver rates and monthly payments that are right for your situation and goals. We then work with you to select the refinancing option that makes the most sense to you.

Find your mortgage match today!