With interest rates on a downward trend, more people are refinancing than ever before.

Homeowners in California are getting more of THEIR money back instead of giving it to the banks. Kinda nice, right?

Still, you have some questions.

Is refinancing a good option for YOU?

What happens if you refinance your home or property?

How do you refinance your home?

Get the inside scoop on refinancing and then let POP Mortgage help you with your refinancing needs. With our help, you can get your money in no time at all.

Refinancing 101

If you’re like most people, you’re a little confused when it comes to refinancing. You need to know more so you’ll know if you should refinance your property anywhere in California for that matter.

To put it simply, refinancing is the process of taking out a new mortgage loan and using it to pay off your existing loan. Your new loan comes with new terms. You can change the duration of the loan and the interest rate.

For instance, you might currently have a 30-year loan and decide to refinance to a 15-year mortgage to get a lower rate. Once you do that, you will benefit from the lower interest payments and you will be able to pay the loan off much faster.

That sounds like a great deal, doesn’t it?

That is just one example. You can refinance to another 30-year loan to get a better interest rate, or you can refinance your ARM.

With so many options, people all around California are turning to POP Mortgage to refinance their loans.

Why Refinance?

If you’re on the fence about refinancing, you want to make sure you’re doing it for the right reasons. It turns out there are many great reasons to refinance.

Want Better Interest Rates? Refinance!

Better interest rates are the most popular reason to refinance. People often find that refinance rates are lower than their current mortgage rates, and that shouldn’t come as a big surprise.

Mortgage rates have been on a steady decline for years. You might be locked into a 4.5 percent interest rate, and if you refinance, you could end up with a 3.5 percent interest rate. A percentage might not seem like much, but think of all of the money you could save by paying 1 percent less for the next 15 years.

Check out our mortgage calculator to find out what you would save with a lower interest rate.

Afraid of High Rates with Your ARM? Avoid High Rates by Refinancing

People also refinance before the interest on their adjustable rate mortgages go up. When you get an ARM, you are locked into a fixed rate for a specific period. When that time ends, your rate might jump. You can refinance to another ARM to extend your time, or you can go to a fixed rate mortgage so you never have to worry about your rates going up again.

Think about how much easier you’ll sleep at night when you don’t have to worry about your ARM reaching into your bank account and taking out more money.

Want to Pay Your Home Off Sooner? It’s Time to Refinance

Changing the amount of time that you have on your loan is another top reason to refinance. Many people go from a 30-year mortgage loan to a 15-year mortgage loan. This does more than shorten the amount of time that you have to pay on your loan. It also lowers your interest rates and can help you avoid penalties if you choose to pay your mortgage off early.

Need Cash? Refinancing Is the Answer

Withdrawing equity is another option. When you refinance, you can free up cash and then take it out to do whatever you want with it. Send your kids to college or take care of some home repairs. You can even take your dream vacation. It’s your money so spend it as you wish. Lots of California residents get a new lease on life when they get some extra cash.

Debt Out of Control? Refinancing Can Help

You can also refinance your California property in order to consolidate your debts. You might have some high-interest loans that are giving you fits. By consolidating your debts, you will have a lower interest rate across the board. Then, it will be much easier to pay off your debts.

Now that you see why so many people refinance, are you ready to dive in?

4 Simple Steps to Refinancing

You’re closer to your money than ever before. POP Mortgage makes refinancing a breeze by shortening the process down to four steps. You don’t need much time with POP Mortgage. Go through the four steps and get your money in no time at all.

Step 1 – Complete our refinance analysis request. This simple request will let us know if you’re ready to refinance your home.

Step 2 – Receive options based on your unique criteria. These options are handpicked just for you. We don’t believe in the cookie-cutter approach to refinancing. We find the best options for each of our customers, ensuring everyone gets the best deal.

Step 3 – Compare the mortgage rates and terms to find the offer that meets your needs. You will have a variety to choose from, so it will be easy to find the right offer for you and your family.

Step 4 – Make your selection. As soon as you choose an offer, our agents will go to work on your behalf. We utilize the best technology in the business, and that allows us to process loans much faster than many of our competitors. You don’t have to worry about waiting with POP Mortgage. Each customer is a priority, and we will push you through our network and get you the money you need immediately.

If you’re ready to refinance your mortgage, POP Mortgage is the right solution. Our experience in the California market allows us to find the best rates for each of our customers. Let us get to work for you.