Refinancing
Your financial situation has changed — your mortgage should too. Whether you want to lower your rate, reduce your monthly payment, shorten your term, or tap into your home's equity, we'll help you find the right refinance solution.
Call (707) 760-9521What is Refinancing?
Refinancing replaces your existing mortgage with a new loan — ideally with better terms. Homeowners refinance for many reasons: to secure a lower interest rate, reduce their monthly payment, pay off their loan faster, switch from an adjustable-rate to a fixed-rate mortgage, or access the equity they've built in their home.
With California home values remaining strong, many homeowners are in an excellent position to refinance. Our experienced loan officers will analyze your current loan and help you determine whether refinancing makes financial sense for your situation.
Refinance Options
There are several types of refinancing — each designed to meet a different financial goal.
Rate & Term Refinance
Replace your current loan with a new one at a lower interest rate or different term. This is the most common type of refinance and can significantly reduce your monthly payment or the total interest you pay over the life of the loan.
Cash-Out Refinance
Borrow more than you owe on your current mortgage and receive the difference in cash. Use the funds for home improvements, debt consolidation, education, or other financial goals.
Cash-In Refinance
Bring cash to closing to pay down your loan balance, reduce your loan-to-value ratio, eliminate PMI, or qualify for a better interest rate.
Streamline Refinance
Available for existing FHA and VA loan holders, streamline refinancing offers a simplified process with reduced documentation requirements to lower your rate quickly.
Common Reasons to Refinance
Save Money
- Secure a lower interest rate
- Reduce your monthly mortgage payment
- Eliminate private mortgage insurance (PMI)
- Lower the total interest paid over the life of the loan
Improve Your Loan
- Shorten your loan term to build equity faster
- Switch from an adjustable rate to a fixed rate
- Access home equity for improvements or debt consolidation
- Remove a co-borrower from the loan
Is Refinancing Right for You?
Refinancing may make sense if you:
- Can qualify for a meaningfully lower interest rate than your current loan
- Plan to stay in your home long enough to recoup the closing costs
- Want to switch from an adjustable-rate to a fixed-rate mortgage
- Have built significant equity and want to access it
- Want to shorten your loan term and pay off your home sooner
- Want to eliminate FHA mortgage insurance by refinancing into a conventional loan
Not sure if refinancing makes sense for you? Use our Refinance Calculator to estimate your potential savings, or contact us for a free personalized analysis.
This is not a commitment to lend. All loans subject to credit approval, underwriting guidelines, and property appraisal. Refinancing may increase the total number of payments and the total amount paid over the life of the loan. Rates, terms, and program availability are subject to change without notice. Friends & Family Financial | NMLS #1269265 | DRE #01968186 | Licensed by the California Department of Real Estate.
Ready to Explore Your Options?
Contact us today for a free refinance consultation. We'll review your current loan and help you determine if refinancing can save you money.