Terms Beginning With 'r'

Rate-and-Term Refinance

  • January 22, 2020
  • Team Kalkine

Rate-and-Term Refinance is defined as the change in either interest rate, term, or both in an existing mortgage. The Rate-and-Term Refinance is generally seen with a drop in market interest rate where a borrower with high credibility is typically allowed to refinance its mortgage at a lower interest rate without any additional charges.

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