What is Refinancing

Flexibility With Your Current Mortgage

Every loan  (ConventionalFHAUSDAVAManufactured Home) has its own signature programs and standards. And where those don’t succeed, try something like HARP (link), to solve negative equity situations.

Benefits You’ll Love About Refinancing

Reduce term & save thousands off future interest payments

Reduce rate & drop monthly payments

Take cash out & consolidate debt or make home improvements

Drop mortgage insurance & save thousands off monthly payments

Types of Refinancing

Below, you will find expandable sections that provide few notable programs and popular reasons for Refinancing. If you are ready to apply for a loan, click here and it will take you to our secure online application. If you still have questions, our loan officers are just a phone call away (805.543.LOAN)


The Home Affordable Refinance Program (HARP) allows borrowers may not otherwise qualify for refinancing because of declining home values or reduced income (DTI of 65 percent), the ability to refinance their mortgages into a lower interest rate and/or more stable mortgage product. HARP is unique in that it enables borrowers who owe more than their home is worth to take advantage of low-interest rates and other refinancing benefits.

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VA Streamline Refinance (IRRRL)

The VA-backed streamline refinance product, called the Interest Rate Reduction Refinancing Loan (IRRRL), allows vets to drop their VA mortgage rate WITHOUT a new appraisal, WITHOUT asset documentation, and WITHOUT income requirements.

Call 805.543.LOAN for more information

Eliminating Mortgage Insurance

Mortgage insurance is an additional monthly charge that may be assigned to borrowers who cannot pay 20% down on their home loan (notable exceptions exist). Once reaching certain equity and/or credit thresholds, the homeowner might be able to refinance into a new loan and drop (or significantly reduce) his/her/their mortgage insurance.

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FHA Streamline

The FHA Streamline Refinance is a simple way for FHA borrowers to lower their monthly mortgage payment by refinancing into a lower mortgage rate. Borrowers must display a history of consistent payments, and reduce their monthly payments by 5%.

Cash-Out Refinance

A cash-out refinance loan is a great refinance option for borrowers looking to convert their home equity into cash.  A cash-out refinance replaces a borrowers’ current mortgage with a larger loan and uses the home’s equity to provide additional funds for other purposes, such as debt consolidation, home improvement projects, and more.

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  • Foreclosure: 3 years from transfer of title date
  • Short Sale: 3 years from relinquished date
  • Bankruptcy (Chapter 7): 2 years from discharge date
  • Bankruptcy (Chapter 13): 2 years from discharge date; 1 year payout has elapsed & payment performance is satisfactory & BK approval
  • Deed-in-Lieu: 3 years from transfer of deed date

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Reduce Interest Paid Over Life Of Loan

Thus, if you can afford the higher payment, it makes since to refinance into this shorter term, higher payment loan because it will net you thousands and thousands of savings over its duration.

Call 805.543.LOAN for more information

Step 1. Get Pre-Approved.

Getting pre-approved is as easy as 1-2-3!

Create an Account

Creating an account is fast, easy, secure and FREE! Your account enables you to easily modify your loan application and view the status of your loan anytime day or night.

Submit Information

When you register for a Loan Center account, you can submit a loan application online and the sensitive information that you provide will be transmitted securely.

Get Pre-Approval

Pre approval can be done in as little as an hour if you have thoroughly completed the loan application and have all the needed paperwork to support the information on the application.

You have questions? We have answers.
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