Am I able to get a lower rate without restarting my loan. I only have 12 years and I would like to keep it that way.

Yes the refinancing world has changed, you can get custom term loans such as a 12 year loan for example. I would look into a 10 year loan which will have the lowest fixed rate and keep you on track. I only lend in Colorado but there are great lenders in the directory on this site that can help!!

Most lenders will not lower your rate without redoing the loan. Having said that it costs you nothing to call them and ask. Make sure you have your monthly statement handy if you call as they'll need he loan number to look you up.If they won't do that then refi for 15 years at the lower rate.

The short answer is its possible, but it might cost you.. Not every lender allows for custom loan terms.. but for those that do, they usually charge a premium. but if you chose one of the standard terms (10, 15, 20, 30) you will get better pricing.. Also, if you have a loan that's 18 years old (assuming your original loan was a 30YR.), then it's very possible the rates will be substantially lower.. but depending on your loan amount, it might not be worth refinancing.. The best way to tell is to get a refinance quote and see if the monthly savings is enough to pay all the loan costs inside of a 3 year period of time.. Example: Your loan amount increases $3600 for closing costs, and with the lower payment you are saving $100 per month. $100 x 36 Months=$3600 savings.. your refinance is paid for after saving $100 per month for 36 months. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893