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RefinanceMortgage rates are low and home prices in California have risen in recent years. As a result, many homeowners could benefit from mortgage refinancing in California.

Will it work out to your advantage? Let’s find out. Bridgepoint Funding will gladly do the math for you to determine if a refinance loan is right for you.

Contact our staff today to get started, or keep reading below to learn more about the California mortgage refinancing process.

California Mortgage Refinancing: Know Your Options

Mortgage refinancing is a common strategy used by homeowners who want to lower their interest rates. If mortgage rates have declined since the last time you obtained a home loan, you might be able to refinance into a lower rate and save money over the long term.

The process works like this: You apply for a new home loan to pay off your existing mortgage balance. You go through a closing process similar to the one you went through when you first purchased the home, though less complicated. If you secure a lower rate on the new loan than the one you have now, you’ll eventually start saving money.

There are other reasons to refinance a home as well. Some homeowners do it to switch from an adjustable-rate mortgage (ARM) to one with a fixed rate. Others refinance to withdraw cash from their home’s equity. Cash withdrawn from equity can be used for a variety of purposes, including home improvement, debt consolidation, and education.

Deciding When to Refinance

Whether or not it’s a good time to refinance your home will partly depend on your goals. If you’re refinancing primarily to save money over the long term, you’ll want to stay in the home long enough for your savings to surpass your costs.

This is known as the break-even point. It’s the point at which the amount you save (with lower monthly payments) begins to exceed the amount you paid in closing costs. We can help you determine where your break-even point lies.

Is California mortgage refinancing right for you? Contact our loan experts today to find out. We can run the numbers to see if a home refinance will work to your advantage.

Why Work With Bridgepoint Funding?

  • We’ve been helping California homeowners refinance for more than 15 years.
  • We are a California mortgage company, and experts in the refinancing process.
  • We offer very competitive rates and flexible qualification guidelines.
  • We want to be your mortgage partner for life!

Contact us: Please get in touch with any questions you have about refinancing. You can call us at (925) 478-8630, or send an email to mtrejo@bpfund.com.

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