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Farmers Bank of Kansas City
Mortgage Refinance Rates & Loan Options
Your goals may have changed since you bought your home. Explore today's refinance rates and see whether a new mortgage could help you lower your payment, pay off your loan sooner, or put your home equity to work.
Explore Today's Mortgage Refinance Rates
Review the refinance rates and loan details below. Compare the interest rate, APR, loan term, and any costs shown to understand how each option could fit your plans.
1. Review Current Rates
Explore refinance options and compare them with your existing mortgage.
2. Consider the Full Picture
Weigh your payment, closing costs, loan term, and long-term goals.
3. Get a Personalized Quote
Request a refinance quote based on your home and financing needs.
A New Mortgage. A Clear Purpose.
Why Refinance Your Mortgage?
Refinancing replaces your existing mortgage with a new loan. The right option depends on what you want to accomplish, the terms of your current mortgage, and the costs of the new loan. Start with your goal, then compare the numbers.
Lower Your Monthly Payment
A lower interest rate or a longer loan term may reduce your monthly principal and interest payment. Review both the monthly savings and total loan cost: extending your repayment period can increase the interest you pay over time.
Pay Off Your Mortgage Sooner
Refinancing into a shorter loan term may help you build equity faster and reduce total interest. Your monthly payment may increase, so compare the new payment with your budget and other financial priorities.
Explore a Cash-Out Refinance
A cash-out refinance replaces your mortgage with a larger loan and provides a portion of your equity as cash at closing. It may help fund home improvements or other expenses, subject to eligibility and equity requirements. Consider the new rate, payment, and costs on the entire mortgage balance.
Change Your Loan Structure
Your current mortgage may no longer fit your plans. Refinancing may allow you to change your loan term or move from an adjustable rate to a fixed rate. Compare the costs and available terms before deciding whether a change makes sense.
Make the Numbers Work for You
Is Refinancing Worth It?
A lower refinance rate can be appealing, but the best decision considers more than the rate alone. Review how the new mortgage affects your upfront costs, monthly budget, and total borrowing costs.
Your Current Mortgage
Start with your interest rate, remaining balance, monthly principal and interest payment, and years left on the loan. These details provide the baseline for comparing a refinance.
Closing Costs and Points
Review lender fees, third-party costs, and any discount points. If costs are added to your loan balance, you'll be financing them rather than paying them upfront.
How Long You'll Keep the Loan
Consider whether you expect to sell your home or refinance again before monthly savings offset the refinancing costs. Your timeline can make a meaningful difference.
Your New Repayment Timeline
Compare the proposed loan term with the time remaining on your current mortgage. Restarting a longer term may lower your payment while increasing the total interest you pay.
A simple break-even example: If refinancing costs $4,000 and reduces your monthly principal and interest payment by $200, the simple break-even period is 20 months. This is an illustration, not a loan offer. It does not account for differences in loan balances, terms, or total interest.
Compare More Than the Headline Rate
How to Compare Mortgage Refinance Rates
Compare refinance offers using the same loan amount, loan type, term, and rate-lock period whenever possible. Look at the interest rate and annual percentage rate (APR), along with discount points, lender credits, and closing costs.
Your available refinance rate can depend on your credit profile, home equity, loan amount, property type, occupancy, and whether you're taking cash out. A personalized quote helps you evaluate options based on your specific circumstances.
Prepare for Your Next Step
Getting Started with a Mortgage Refinance
Have your latest mortgage statement handy, along with an estimate of your home's value and a clear idea of your refinancing goal. Depending on the loan program, you may also need income, employment, asset, and homeowners insurance documentation.
Start with a personalized refinance quote from Farmers Bank of Kansas City. Review your options, ask questions about costs and timing, and decide whether the proposed loan supports your goals.
Refinance Questions, Answered
Mortgage Refinance FAQs
When should I refinance my mortgage?
Consider refinancing when a new loan could support a specific goal, such as reducing your payment, shortening your term, or accessing equity. There isn't a single rate reduction that makes refinancing right for everyone. Compare closing costs, potential savings, and how long you expect to keep the loan.
Are refinance rates the same as home purchase rates?
Not necessarily. Rates can differ based on the loan purpose, program, equity, credit profile, and other details. Cash-out refinance pricing may also differ from refinancing without cash out. Use a quote that reflects your actual refinancing scenario.
Can I refinance with a different lender?
Yes. You don't have to refinance with the lender that holds your current mortgage. You can compare lenders and choose a new loan based on available terms, costs, service, and your eligibility.
What is a cash-out refinance?
A cash-out refinance replaces your existing mortgage with a larger loan. After your current mortgage and applicable costs are paid, you receive the remaining proceeds as cash. The amount available depends on your equity, loan program, and eligibility.
Can refinancing remove mortgage insurance?
In some situations, refinancing into a conventional mortgage with sufficient equity may eliminate the need for private mortgage insurance. Requirements depend on the new loan and your eligibility. Compare refinancing costs with any mortgage insurance cancellation options available on your current loan.
Does a lower monthly payment always mean a cheaper loan?
No. A lower payment may result from extending your loan term, even if your interest rate doesn't decrease. Compare total interest, closing costs, and the time needed to repay the loan, along with the monthly payment.
What does a no-closing-cost refinance mean?
It generally means you aren't paying certain closing costs upfront. Those costs may be covered through lender credits associated with a higher interest rate or added to the loan balance. Review the quote to understand how the costs are handled.
Does viewing refinance rates lock my rate?
No. Viewing a rate card or requesting a quote doesn't automatically lock your rate. A rate lock is a separate agreement for a specified period, subject to its terms. Ask about lock options as you move forward.
Find Out What Refinancing Could Do for You
Get a personalized refinance quote from Farmers Bank of Kansas City and explore options based on your home, current mortgage, and goals.
Rates, loan programs, and availability are subject to change. Displayed rates are not a loan approval, rate lock, or commitment to lend. All loans are subject to credit and underwriting approval. Review the rate card's assumptions and disclosures for applicable terms and costs. Refinancing may increase your total borrowing costs, particularly if you extend your loan term or finance closing costs.
© 2026 Farmers Bank of Kansas City is a branch of Farmers Bank & Trust. All Rights Reserved.
© 2026 Farmers Bank of Kansas City is a branch of Farmers Bank & Trust. All Rights Reserved.