Rate-and-Term Refinance

A rate-and-term refinance replaces your current mortgage with a new one that has a better rate, different term, or both — without changing the principal balance beyond closing costs. The goal is to reduce monthly payments, total interest, or both.

Because no cash is extracted, rate-and-term refis usually have slightly lower rates and more flexible underwriting than cash-out refis. The breakeven on closing costs vs. monthly savings is the key math — aim to stay past the breakeven month.

Why it matters for Milo customers

Milo can refinance an existing mortgage into a crypto-backed structure if rates have dropped or your crypto position has grown. This lets you reduce monthly payment and unlock crypto-as-collateral flexibility in one move.

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