How to Lower Your Payment

A lower mortgage payment results in more money left over for everything else in your life

How would you like to get started?

Read our Refinance Guide

Do you need more information on how to refinance your mortgage? If so, our refinance guide is just what you’re looking for. It’s packed with tips, tricks, and tactics on how to refinance the right way.

Or Talk to a Mortgage Expert Now

Call us right away at our toll-free number (805) 434-5226 to reach one of our home loan experts.

The Basics of Lowering Your Payment

Lowering Your Mortgage Payment Is A Lot Easier Than You Think

By changing the specific terms of your mortgage, you can maximize your monthly income.
We help our clients daily to lower their monthly home loan payment by refinancing. Want to know how we can help you? Click here and contact us now.

3 Reasons Why You Should Choose Crown Mortgage of the West Today

Our qualified Home Loan Experts are here to answer your questions. We’ll break down the details in easy-to-understand language. Our goal is for you to get the right mortgage that’s right for your financial needs.
After the closing of your loan, you’ll be able to manage your mortgage online without any hidden fees.
Our service continues after you’ve closed your mortgage. We service 99% of our mortgages.

The Four Most Popular Alternatives for Lowering Your Mortgage Payment*

An FHA Loan – Escape a skyrocketing mortgage payment, by choosing the fixed-rate security of an FHA loan that’s government-insured.
A 30-Year Loan – Are you searching for a more traditional mortgage option? A 30-year fixed loan might be right for you.
An Adjustable Rate Mortgage – When you choose a five to seven year ARM, you can get the lowest rate possible. You could save thousands compared to a traditional fixed mortgage during the first 5 or 7 years of your home loan.
A VA Loan – Are you a veteran, military member, or spouse? If so, you might qualify for a VA loan. Get in touch with us now to see if you are eligible for the benefits.

*If you refinance an existing mortgage, the total charges could become higher over the life of your loan.

FAQ (Frequently Asked Questions)

"How can I know if refinancing my mortgage in order to lower my payment is worth it?"

Ask yourself the following two questions:

“How much will I really save here?” Things may have changed since you bought your home – mainly your creditworthiness, the home value, or the mortgage rates. Have any of these metrics improved since you purchased your home? If the answer is yes, don’t hesitate to contact us so we can evaluate your situation. Simply call us today at the toll-free number stated below.
“How about the savings, will they cover the cost?” The closing costs on the mortgage may be added to the overall refinance sum. If you do that, you can avoid paying any money out of pocket at closing. However, refinancing to lower your payment may result in a longer term, which might increase the total interest long-term.

P.S. Don’t be shy! Talk to one of our Home Loan Experts by calling (805) 434-5226 to see if refinancing can help you lower your mortgage payment.

"What's refinancing really about? Can it lower my payment, if so how?"

By refinancing your home, you’re taking on a new loan with new (different) terms. In order to lower t he monthly payment, you should apply for a loan that provides the following:

A Lower Interest Rate – The higher the interest rate of your loan is, the more expensive your mortgage will be over the life of your loan. A lower interest rate results in a lower payment, unless you shorten the length of your term.
Gets Rid of Private Mortgage Insurance (or “PMI”) – Homeowners that choose to put less than 20% down on their home loan, are probably paying private mortgage insurance (PMI). In the event of your property increasing in value, or if you’ve built up enough equity in your original mortgage, you will be able to refinance your home so as to remove the expensive PMI.
Refinances to a Longer-Term Loan – When you decide to refinance to a loan with a longer term, you’re stretching the owed amount over a longer time period. You might pay more in interest overall, your monthly payments decrease.

"Explain equity and how it can help me lower my mortgage payment?"

It’s simply the (appraised) value of your home, minus the amount that you still owe on your mortgage.

When your equity is higher, you can qualify for a better interest rate on your mortgage. This often means that you can lower your monthly home loan payments.

Having good enough equity could also enable you to get rid of private mortgage insurance (PMI). PMI is a monthly fee found in many home loans with a down payment that’s less than 20%.

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When you submit your contact information to us, you’re agreeing to our Security Policy, Privacy Policy, and Terms of Use.

You’re also consenting to having Crown Mortgage of the West, our partner companies, and our Family of Companies, reach out to you about your inquiry through a text message or a phone call*.

We’ll call the cellular or residential telephone number you’ve provided with us. We’ll do this even if your telephone number is on a corporate, state, or national Do Not Call Registry. You’re NOT obliged to receive such messages or calls as a condition of saying yes to our services, or the services of our affiliates.

When you’re talking to us over the phone, you’re consenting to the call being monitored and recorded. You’re also agreeing that we can share the personal data and contact information you’ve provided with us. We can share this information with third parties, including our mortgage partners, affiliates, or partner companies. The stated parties are allowed to use your contact information and personal data for analytic and marketing purposes. They may also use the information to improve your experience.

*This includes an automatic telephone dialing system or a prerecorded or artificial voice.

Why You Should Choose Crown Mortgage of the West

You’ll get access to an online application process, which saves you paperwork.
Our Home Loan Experts will be there to answer questions and concerns, and to help you get clear on all the details so you get the perfect mortgage for your needs.
After you’ve closed the home loan, you’ll be able to manage your mortgage online without any hidden fees.
You can expect customer service long after you’ve closed. You see, we service around 99% of all our mortgages.

Here's What Other Homeowners Like You Have To Say About Us

Purchasing or refinancing a home is such a personal and often stressful experience, things seem to come down to the last 30 days and when the process greatly affects you and your family, emotions can run high. In the age of online offers and refinancing with a click of the button I have been burned before. In Brian I have an individual on my financial team that I can trust completely and that is priceless.

Brian always made me feel at ease, was easy to communicate with and by the end of my first purchase with Brian I knew for a fact he had my best interest at heart. I have since done three transactions with him and I know he always fights to get me the best deal and protects my interests at all costs.

I was lucky in that Brian was a good friend of the family when we took on the process of purchasing a family home. Then I found out that I was even more lucky than I knew. Brian and his team will take care of you like their own family as they guide you through the process to closure.