Mortgage Refinance in Southern California
Refinance your mortgage with Arbor Home Loans for a lower interest rate, take cashout to consolidate high interest credit card debt, add value to your property with home improvements, add an accessory dwelling unit (ADU) for rental income, buy a rental property, invest in the market, or send the kids to college.
The refinance options are limitless and allow you to leverage the equity in your home for cash for whatever needs you have.
A refinance simply revises and replaces the terms of an existing mortgage for a better interest rate or to access cash using the property as collateral. Refinancing is not taking out a second mortgage such as a home equity line of credit (HELOC).
Refinancing Options
Rate-And-Term Refinance:
Borrowers will use a rate-and-term refinance when economic conditions improve, and rates drop, or their credit rating increases, which qualifies for a better rate. The existing mortgage is paid off and replaced with a new loan that could save the borrower hundreds per month, and hundreds of thousands over the life of the home loan.
Cash-Out-Refinance:
The cash-out-refinance is common when the underlying asset collateralizing the loan has increased in value. This home loan involves withdrawing the equity in the asset in exchange for a higher loan amount. Borrowers will use the cash-out for debt consolidation, home improvements, purchase of a rental property, college fund, or any reason the borrower sees fit. The cash-out-refinance gives access to cash immediately without selling the property.
The Bottom Line
Refinancing is a great way to lower the cost of your mortgage when interest rates fall. When interest rates drop, or debt becomes unmanageable, refinancing is worth exploring.
Contact your Arbor Home Loan expert to see how much you could save with a refinance today!
Proud Member of the following Associations
Arbor Home Loans
Arbor Home Loans offers the white glove experience,
personalized mortgage solutions, customizable quotes, great rates, fast and friendly service with integrity.
Follow Us
Copyright © Arbor Home Loans 2024. All Rights Reserved.
NMLS 1206543 & DRE 02128292
Arbor Financial Group. NMLS Entity ID #236669. DRE #01845041
Licensed In: CA, FL
Copyright © Arbor Home Loans 2024. All Rights Reserved.
NMLS 1206543 & DRE 02128292
Arbor Financial Group. NMLS Entity ID #236669. DRE #01845041
Licensed In: CA, FL