Refinance & Save
Skip Two Mortgage Payments!
Lower payment? Cash back? Faster payoff? Find out how refinancing can help you meet your goal.
Lower Your Monthly Payment
Mortgage rates are at their lowest in decades. A refinance with Union Mortgage of California can help you lower payment and save you money. Lowering your payment is easier than ever and getting started is simple! Call us or click here to find out if you qualify for a refinance.
Cash Out - Equity
Isn’t it time your home started working for you? If you are a homeowner, we offer loan options that can help you achieve your goals, realize milestones, or simply consolidate debt to save money. A cash out refinance let you use the equity in your home in a number of ways.
Consolidate Debt
Pay off those higher-interest debts by refinancing to a lower rate. Even with less-than-perfect credit, we may be able to help you lower your monthly payment and pay off your higher-interest debt. By consolidating your payments into one low monthly payment, you will pay less each month and pay off your higher-interest debts faster which will also help improve your credit.
Remove Mortgage Insurance
Your mortgage may be eligible to lower your monthly insurance premium and interest rate. When mortgage rates are near record lows, as they are now, refinancing can allow you not only to get rid of PMI, but you can reduce your monthly interest payments. It’s a double-whammy of savings.
Lower Your Payment By Taking Advantage Of Low Mortgage Rates
Refinancing your mortgage is a way to potentially lower your interest rate and monthly mortgage payment.
FHA Loans
Lower those rising mortgage payments with a government-insured fixed-rate loan
Adjustable Rate Mortgage
Pay less over a traditional fixed rate mortgage for the first years of your loan with a 5 or 7 year ARM. Get the lowest rates available and save money.
30-Year Loan
Find stability with a traditional fixed loan option, Union Mortgage of California can help you lock in today at a great rate.
VA Home Loan
Refinance up to 100% of your home or buy a new home with no down payment and never pay monthly insurance (PMI)!
Great rates and savings may be available to you if you are a military member, veteran, or spouse of a veteran! There are several options available to eligible veterans. Contact us today! Not sure which program is right for you? Contact one of our specialists today! Union Mortgage of California can advise you on which mortgage refinancing program best meets your needs.
Call 916.220.2001 to Refinance Your Mortgage!
Frequently Asked Questions
What is Refinancing?
Refinancing is simply getting one loan to pay off another.
What does refinancing cost?
Typically, the closing cost of a refinance is between 1% & 2% of the loan amount, lender fees included. You may choose to pay points (see below) to lower your interest rate, or you could want to do a Low- or No-cost refinance. Contact us if you have any questions or would like to know more.
What are points?
Points (or discount points) are a way of lowering your interest rate. By paying 1% of the total loan amount up-front, a borrower can lower his interest rate by about 1/8%.
How does the APR differ from the interest rate?
The rate refers to what percentage of your loan you will pay in interest per month, whereas the annual percentage rate (APR) is an adjusted percentage that expresses the yearly cost and also includes certain charges and fees.
What is PMI?
PMI stands for Private Mortgage Insurance. Borrowers with less than a 20 percent down payment are required to carry this insurance as a means of protecting the lender against default.
Can I get cash from a refinance loan?
Yes. Depending on the type of refinance loan you opt for you can take out cash to use for bills, home repairs or whatever you might need it for. This option however should be carefully discussed with us. Please contact us today if you’re interested in this type of refinance loan.