Replace your current mortgage with a new conventional loan — adjusting your term, moving from an adjustable to a fixed rate, or simply resetting your loan structure — without touching your loan balance.
A rate-and-term refinance replaces your existing mortgage with a new one on essentially the same loan balance — you're not pulling cash out, just restructuring the loan itself. Homeowners use it to shorten a term (30 years down to 15, for example), move off an adjustable-rate mortgage onto a fixed rate, remove a co-borrower, or consolidate a first and second mortgage into one conventional loan.
Because you're not increasing your loan balance, a rate-and-term refinance is generally the most straightforward refinance path, with fewer overlays than a cash-out transaction. It's designed for borrowers with an existing conventional loan, and can apply to a primary residence, second home, or investment property.
Move to a different term or loan structure while keeping your payoff amount the same.
Refinancing from a 30-year into a 15-year term builds home equity meaningfully faster over the life of the loan.
Lock in a fixed-rate loan structure instead of riding out future adjustment periods on an ARM.
Our streamlined process means less time waiting and more time locked into your new loan terms.
No call center hand-offs — the same dedicated loan officer manages your file end to end.
| Requirement | General Guideline | Notes |
|---|---|---|
| Occupancy | Primary residence, second home, or investment property | Requirements vary by occupancy type |
| Loan-to-Value | Program dependent; conventional refinance LTV maximums apply | General guideline — subject to underwriting and appraisal |
| Credit & DTI | Evaluated per conventional underwriting guidelines | See the CFPB debt-to-income reference below |
| Documentation | Full income and asset documentation typical | Streamlined documentation may apply in limited cases |
| Existing Loan Type | Existing conventional loan | Refinances an existing conventional loan into a new conventional loan |
| Loan Limits | Follows FHFA conforming loan limits | See the FHFA reference below for current county-level limits |
A rate-and-term refinance is often the right move when your goal is structural — a shorter term, a fixed payment, or removing private mortgage insurance once you've built sufficient equity. If your goal is instead to access equity as cash, our Cash-Out Refinance page covers that separately.
Saffron Premier Mortgage is built around a lean fee structure — we cut the junk fees other lenders bury in the fine print, keep closing costs low, and close in as few as 10 days, all with competitive pricing and a dedicated loan officer on your file from application to close.
We believe an informed borrower makes a better decision. These are independent, high-trust sources — not Saffron Premier Mortgage marketing — where you can read more or independently verify our license.
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