30-year Fixed Refinance Rate and Fee Quote

Longer term loans like the 20-year and 30-year varieties offer some of the lowest monthly payments. Longer term loans come in both fixed and adjustable rate types, with fixed rates being the most popular because they provide long-term stability as well as a low monthly payment.

The Adjustable Rate Mortgage (ARM) worked greatly for lowering the mortgage payment in the past because the interest rates on Adjustable Rate Mortgages were significantly lower than the fixed rate mortgage rates; this is not the case in 2025 because ARM loan interest rates are not much lower than on fixed rates, and in some cases are the same.

Interest Only: Monthly mortgage payments are comprised of principal and interest. The principal portion of the payment goes towards paying back the loan. The interest portion of the payment is the charge for loaning you the money. So, some of the money goes towards principal and some towards interest every time you make a monthly payment. Interest Only is a feature available on some loans that allows borrowers to pay only the interest portion of the payment due. Paying the interest portion of the payment only could knock one or two hundred bucks or more off your payment - depending on the loan amount. Interest Only is not recommended if you plan on living in the home long term.

Taxes and Insurance: You might have the option to not have your taxes and insurance included in your monthly payment, depending on how much equity you have and the type of loan that you are doing. Taxes and Insurance are also referred to as “escrows” or “impounds” depending on what part of the country you live in. Not having escrows included will lower your monthly payment, but doing so is definitely not recommended for new or inexperienced homeowners because the taxes and insurance must be paid each year; failing to pay your taxes and insurance can have serious repercussions.

Use the quick form on this page to get a custom quote that is totally anonymous. The quote includes closing fee estimates, interest rate options, and monthly payments. No personal information needed. No talking to a mortgage salesperson. Just the facts and figures.

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