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Under the right circumstances, home refinancing can help you lower your mortgage rate and your monthly payments. This is one of the most common reasons why people refinance their homes. And with today’s low rates, more and more homeowners are taking advantage of this strategy.

Could you lower your mortgage payment by refinancing into a lower rate? Contact our staff today to find out, or keep reading below to learn more about the process.

Refinancing to Lower Your Mortgage Payments

The average rate for a 30-year fixed mortgage loan in California remained below 4% for most of 2016. Mortgage rates are expected to stay relatively low in 2017 as well, though they could begin to inch upward over the coming months.

As a result of these trends, current rates might be lower than they were when you first purchased your home. So you might be able to refinance to lower your monthly payments.

Refinancing could lower your monthly mortgage payments in a couple of ways:

  • A Lower Rate — By securing a lower rate on a home loan, homeowners are able to lower their monthly payments as well. This frees up money for other uses.
  • A Longer Term — It’s also possible to reduce monthly payments by refinancing into a longer-term loan. This stretches your unpaid mortgage balance over a longer period of time, thereby reducing the size of the payments. Just note that with this strategy you might pay more in total interest over time. So it’s a matter of priorities.

We Can Help You Figure It Out

Is mortgage refinancing right for you? Will it help you lower your monthly payments? We can help you figure it all out! Our financing experts can examine your current loan, your equity position, and other factors to determine if refinancing makes sense for you.

Bridgepoint Funding has been helping California homeowners refinance their homes for more than 15 years. We offer competitive rates, flexible qualification criteria, and a wide variety of loan options. And it’s all backed up by a level of service that earned us a five-star rating on Yelp!

Contact us: Please get in touch with any mortgage-related questions you have. You can call us at (925) 478-8630, or send an email to

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