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Learn How To Lower Your
Mortgage Payments Today

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You may be able to reduce your monthly payment through a mortgage refinance

Get a Competitive Mortgage Rate And Start Saving

There are a number of ways to lower your mortgage payment. Our specialty is helping you choose a competitive loan program that meets your unique financial circumstances, using our extensive array of loan products.

We will start with looking at your current interest rate to see if lower rates are available. If so, we will help you determine whether you qualify for the lower rate.

Did you also know that “buying a lower rate” by paying discount points is another effective method for getting an even lower interest rate?

Extending your loan term is another option that may lower your mortgage payment. Perhaps an ARM (Adjustable Rate Mortgage) loan or an Interest Only (IO) loan might suit your goals. You can learn more about ARMs or Interest Only loans here.

Our loan advisors at American Pacific Mortgage will help you choose from the available loan options, knowing your goal is to lower your monthly payments. We will show you how each loan program compares to the others, so you know that you are choosing the loan that makes the most sense for your financial circumstances. Then, we will guide you through the refinance process so you can get to the finish line with confidence and ease. Find a loan advisor and get the answers you need.

Not ready to talk to us just yet? Our mortgage refinance calculator can show you an estimated breakdown of your monthly savings and total costs to refinance your mortgage.

Change Your Terms and Lower Your Payment

Extend Your Loan Term

Did you choose a 15-year mortgage in order to pay off your mortgage as soon as possible? Extending the terms of your mortgage from a 15-year to a 30-year is just one way to reduce your monthly payment. In most cases, you can still pay your loan off early even if you extend your terms. Compare the monthly payments options with your American Pacific Mortgage loan advisor to see if extending your term is the right way to lower your payments.*

Refinance Your Adjustable Rate Mortgage

Has your Adjustable Rate Mortgage recently adjusted upward? ARMs typically offer a very attractive interest rate for a fixed period of time. Before this period is over, it may make sense to refinance into a different program, like a Fixed Rate or even another ARM, to keep your rate and payments low. You can learn more about ARMs here.

Is IO The Way To Go?

With an Interest Only (IO) loan, you can pay just the interest for a preset period of time. This program doesn’t make sense for everyone, so it is important to discuss your short-term and long-term goals with your loan advisor before selecting an IO loan. For those who want to flip a “fixer-upper” and quickly get it back on the market, the Interest Only option can be a powerful financial tool. You can learn more about Interest Only loans here.
 

Let us help you find the home loan to reach your financial goals.

FIXED
RATE

The peace of mind of a fixed rate and payment is the right choice for most borrowers.

*Please visit our Disclosures page for more details for all loan types

conventional
mortgage

A conventional mortgage is a home loan that falls under the conforming loan limit of $453,100 (which is set annually by the Federal Housing Finance Agency)

fha
mortgage

A mortgage that is insured by the Federal Housing Administration (FHA). FHA loans allow for down payments as low as 3.5%* and lower credit scores than most conventional loans. There are maximum loan amounts that vary by county.

jumbo
loans

Loans for premium real estate areas that exceed the conventional conforming loan limits (ranging between $453,100-$679,650 depending on area)

reverse
mortgage

If you are 62 or older, leverage the equity on your primary residence.

usda
loans

A loan to fund your small town dreams of rural home ownership, with lenient down, income and credit requirements.

va
mortgage

Loans for veterans, servicemembers or surviving spouses. With qualifying income and credit, you can buy a primary residence with no money down at a fantastic rate.

ADJUSTABLE
RATE

When you have short term lending goals, an adjustable rate may be right for you.

*Please visit our Disclosures page for more details for all loan types

conventional
mortgage

A conventional mortgage is a home loan that falls under the conforming loan limit of $453,100 (which is set annually by the Federal Housing Finance Agency)

fha
mortgage

A mortgage that is insured by the Federal Housing Administration (FHA). FHA loans allow for down payments as low as 3.5%* and lower credit scores than most conventional loans. There are maximum loan amounts that vary by county.

interest
only

An interest only mortgage is great if you are interested in the lowest possible monthly payment for an initial period of time.

jumbo
loans

Loans for premium real estate areas that exceed the conventional conforming loan limits (ranging between $453,100-$679,650 depending on area)

reverse
mortgage

If you are 62 or older, leverage the equity on your primary residence.

va
mortgage

Loans for veterans, servicemembers or surviving spouses. With qualifying income and credit, you can buy a primary residence with no money down at a fantastic rate.

American Pacific Mortgage Programs
Your offer backed by the purchasing power of a full loan approval. With our Keys on Time program, your offer may stand out in a competitive market. Keys on Time Guarantee Want peace of mind for rising interest rates? You can lock your rate while you shop for a home, sell your home, or while your home is under construction. Certain fees may apply. Secure Lock Our Bridge Loan programs can help you purchase a new home before your existing home is sold. Bridge Loan Programs If you are looking to buy a home that exceeds conforming loan limits, we have multiple Jumbo loan programs to choose from. Jumbo Programs Our Peak Loan program allows you to buy a home up to $1.5M with only 5% down. Peak If you are looking to finance a home that exceeds conforming loan limits, our High Balance Solutions program may be the ticket you need. High Balance Solutions If you are looking to finance a home that exceeds conforming high balance loan limits, you can split the loan amount between a first and second with our Jumbo Solutions program. Jumbo Solutions With our Expanded Access program, we have opened the doors to borrowers who need access to financing but don’t "fit" the standard agency or jumbo program guidelines. Expanded Access Investor Advantage gives you purchasing power in the market today for investment properties. Investor Advantage A mortgage program that lets qualified borrowers factor in their assets as sources of qualifying income. Asset Inclusion If you can dream it, you can make it a reality. Finance the purchase of your fixer upper with the cost of repairs included in your mortgage. Dream Home Renovation Home Ready is a conventional 3% down mortgage loan with even more flexible income qualification guidelines. Home Ready by Fannie Mae Purchase a home with low down payment and flexible sources of funds. Home Possible A mortgage program dedicated to saving our selfless teachers and first responders a little money on their home loans. STaR Loan Program Financing provided for the purchase and refinancing of manufactured homes. Manufatured Housing

The Loan Process
1.

Get
Pre-Approved

This is the time to get in the know. A pre-approval will give you an advantage when you find your perfect home. We can tell you what you need to get pre-approved, so you know the exact loan amount you qualify for, what your monthly payment will look like, and how much taxes and insurance will be. With a pre-approval, the loan process will be smoother and your offer will be stronger.

2.

Select Your
Loan Program

Fixed rate? Adjustable? FHA? There are multiple loan options that may fit your unique needs, and we can help you choose. Are you looking for the consistent rates and payments that a fixed rate loan can provide? Do you want the short-term benefits of lower rates that an adjustable rate loan can bring? Our extensive portfolio of loan options means you have more options available to get just what you need.

3.

Loan
Application

Your application will provide a complete picture to loan investors of your assets, debts and what you are buying. You will need to provide documentation, including a photo I.D., pay stubs, proof of income, tax returns, employment history, and information on all debts, assets, and sources for down payments. Don't worry, we will let you know exactly what is needed for the loan application so you can be fully prepared.

4.

Processing and
Underwriting

Your loan has specific investor guidelines that must be met, and an underwriter will review your documents to be sure that you meet them. While an underwriter reviews your file, an appraisal will be ordered on the home. Additional information may be requested, so don’t panic if you have to turn in more documents. That’s just the underwriter working hard to get your final approval.

5.

Loan
Approval

Before your loan is approved, you will receive pre-approval and a list of closing conditions that need to be met. These conditions can include verification that your employer is current and proof that homeowner’s insurance has been obtained. Once closing conditions have been satisfied, the underwriter issues a clear to close. Congratulations, your loan has been approved!

6.

Close
the Loan

With an approved loan, you are on the home-stretch towards closing. The lender will send closing documents to a title company that draws up paperwork and arranges for signing of documents. Once the documents have been signed and funding conditions have been met, the title is recorded and the process is complete. You are a proud owner of your new home, and the keys are yours!

What Can I Afford?

It doesn’t get easier than this.

Check out our user friendly Home Affordability Calculator to assess your debt-to-income ratio, down payment, loan amount, and mortgage payment all at once. It’s almost like your own personal loan expert at the click of the keyboard.

Use our Mortgage Payment Calculator to quickly and easily see current mortgage rates and determine your monthly payment.
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