Lower Monthly Payment Refinance in Phoenix AZReduce Your Monthly Payment for More Breathing Room
Want to cut your monthly mortgage payment? There are usually a few ways to get there — drop your rate, extend your term, drop PMI, or some combination. I'll show you each option and the trade-offs so you can pick what fits your budget best.
- 10+ Years Experience
- License NMLS# 1455718
- $500M+ in Loan Volume Closed
- Backed by the Nation's #1 Mortgage Brokerage
When You Need Lower Monthly Payment Refinance
A payment-reduction refi makes sense when your monthly cash flow is tight, when interest rates have dropped, or when you've hit 20 percent equity and can drop mortgage insurance. Some people refinance to extend the loan term from 20 years remaining back to 30 years, which lowers the payment but means more total interest paid. Others use the refinance to combine a first and second mortgage. The right path depends on your goals and how long you plan to stay in the home.
Our Lower Monthly Payment Refinance Process
Here's how we lower your payment. Call or text me with your current mortgage info — rate, balance, term, and any second mortgage or PMI. I'll quote you the lowest payment I can get you and show you the trade-offs of each option. If the savings make sense, we move forward. Most payment-reduction refinances close in 25 to 35 days.
Lower Monthly Payment Refinance Cost in Phoenix
Closing costs typically run 2 to 4 percent of the loan amount, but I'll show you no-closing-cost options too. You'll see every fee in writing. If lowering the payment doesn't add up to enough savings to justify the cost, I'll tell you to wait.
Why Choose Us
I won't push a refi that doesn't save you money. Ten years in the business and 50-plus five-star reviews from people who trusted me to tell the truth. Same-day response on every call and text. I'll show you the real numbers before recommending anything.
Ready to Get Started?
Need a lower payment? Call or text Mark at (480) 690-9790 and I'll run the numbers free today.
For more refinance options, see all of our Mortgage Lender programs in Phoenix.
Reviewed by
Mark Fazio — Licensed Mortgage Loan Officer
NMLS #1455718 · Barrett Financial Group (NMLS #181106) · Phoenix, AZ
Mark Fazio is a licensed Phoenix mortgage broker with 10+ years of experience and over 1,000 home loans closed. He shops dozens of lenders to find the lowest rate on purchase, refinance, and specialty loans, and personally guides every client from the first call through closing.