Refinance Your Home
Lower your rate, lower your payment, drop mortgage insurance or turn equity into cash. If refinancing doesn't make sense for you, we'll say so.
Ways to refinance
Each type solves a different problem. Start with your goal and we'll match the program.
Rate-and-term refinance
Replace your current loan with a lower rate or a different term. Go from 30 years to 15 to pay off faster, or move from an adjustable rate to a fixed rate.
Cash-out refinance
Borrow against your home's equity for renovations, debt consolidation, a down payment on an investment property, or anything else.
FHA Streamline
A faster refinance for existing FHA loans with reduced documentation and often no appraisal, as long as it lowers your payment.
VA IRRRL
The VA's Interest Rate Reduction Refinance Loan. Streamlined paperwork to lower the rate on an existing VA loan.
Does refinancing make sense for you?
The simplest test is your break-even point: divide your closing costs by your monthly savings. That's how many months it takes for the refinance to pay for itself.
| Closing costs | $6,000 |
| Monthly savings | $250 |
| Break-even | $6,000 ÷ $250 = 24 months |
If you plan to stay in the home longer than your break-even, a refinance is usually worth a closer look. If you're moving in a year, it usually isn't. Example numbers only; your costs and savings will differ.
Common questions
How soon after buying can I refinance?
It depends on the loan. Many rate-and-term refinances have no waiting period. Conventional cash-out refinances generally require about six months of ownership, and an FHA Streamline generally requires 210 days and six payments on your current loan.
How much does it cost to refinance?
Closing costs commonly run 2–5% of the loan amount, covering lender fees, appraisal, title and escrow. Some can be rolled into the new loan. We'll give you a written estimate before you commit.
How much cash can I take out?
Conventional cash-out refinances typically let you borrow up to 80% of your home's value, minus what you owe. VA cash-out can go higher for eligible borrowers.
Can I refinance to remove mortgage insurance?
Yes. If your home has gained value and you now have 20% or more equity, refinancing from an FHA loan into a conventional loan can remove monthly mortgage insurance for good.
Areas we serve
This program, like everything we offer, is available across Ventura, Los Angeles, Santa Barbara and Kern counties.
Ventura County
Oxnard, Ventura, Camarillo, Thousand Oaks, Simi Valley, Moorpark, Santa Paula, Port Hueneme, Fillmore, Ojai and surrounding areas.
Los Angeles County
Los Angeles, Santa Clarita, Palmdale, Lancaster, Long Beach, Pasadena, Glendale, Torrance, Pomona, Burbank and surrounding areas.
Santa Barbara County
Santa Barbara, Santa Maria, Goleta, Lompoc, Carpinteria, Buellton, Solvang, Orcutt and surrounding areas.
Kern County
Bakersfield, Delano, Tehachapi, Ridgecrest, Shafter, Wasco, Arvin, McFarland and surrounding areas.
Other loan programs
Not the right fit? Compare every option on our loan programs page, or try one of these:
See if refinancing saves you money
Marcos will run your break-even and compare options on a free call.