As a homeowner in Kansas or Missouri, lowering your monthly mortgage payment can free up significant cash flow for other financial goals. While our comprehensive Mortgage Refinance Guide is often the fastest path to savings, there are several specialized strategies to consider for 2026.

Which Option Saves You the Most?

Strategy	Best For…	Upfront Cost
Refinance	Lowering Interest Rates	Moderate (Closing Costs)
Recast	Keeping your current low rate	Low ($250 – $500)
PMI Removal	Homeowners with 20% equity	Minimal (Appraisal)

1. Refinance Your Mortgage

One of the most effective ways to lower your mortgage payment is with a rate-and-term refinance. For 2026, the conforming loan limit for single-family homes in the KC metro has increased to $832,750. This allows more local homeowners to qualify for conventional financing rather than expensive Jumbo loans.

Your credit score plays a major role in the rates you will be offered. If you want to avoid paying fees upfront, a no-cost refinance may be a viable alternative. Consult with a Metropolitan Mortgage professional to help you navigate the refinancing process.

2. Request a Mortgage Recast

If you have a substantial amount of cash available but don’t want to lose your current low interest rate, you can request a mortgage recast. This involves making a lump sum payment towards your principal, after which the lender re-amortizes your balance to lower your monthly payment.

Pro Tip: Recasting is often the most overlooked way to save. It keeps your current rate and term intact while immediately dropping your monthly obligation.

3. Remove Private Mortgage Insurance (PMI)

If you’re paying for private mortgage insurance (PMI), you may be able to remove it once you reach 20% equity. With home values in Kansas City and Overland Park seeing steady growth, you may have reached this milestone sooner than expected.

To start, use our KC Home Value Estimator to see if your property’s value has risen enough to request a PMI cancellation appraisal.

4. Increase Payment Frequency or Extend the Term

Consider making biweekly payments to pay off your mortgage faster, or, if you need immediate relief, consider extending your term. For example, moving from a 15-year to a 30-year fixed mortgage can significantly reduce your monthly stress. Use our Refinance Calculator to see the exact impact on your bottom line.

Find Your Best Savings Path

Our KC team specializes in analyzing your unique situation to find the lowest possible payment.

GET A FREE SAVINGS ANALYSIS