Rate & Term Refinance in Orange County
Lower your interest rate, reduce monthly payments, eliminate PMI, or change your loan term without taking cash out. Perfect for optimizing your current mortgage when rates have dropped.
Lower Payments
Reduce monthly payments with today's rates
Eliminate PMI
Remove private mortgage insurance when you hit 20% equity
Change Term
Switch to 15-year to pay off faster or 30-year for lower payments
Stability
Switch from ARM to fixed rate for predictable payments
See Your Potential Savings
Orange County Example
*Example only. Actual savings depend on your specific situation and current market rates.
Annual Savings Breakdown
Why Choose Rate & Term Refinancing?
💵 Lower Monthly Payments
Reduce your payment by hundreds per month when rates drop or your credit improves.
Free up cash flow for other goals
🛡️ Remove PMI
Eliminate private mortgage insurance when your Orange County home reaches 20% equity.
Save $200-500+ monthly
⚡ ARM to Fixed Conversion
Lock in a fixed rate if you have an adjustable-rate mortgage and want stability.
Protection from rising rates
⏰ Shorten Loan Term
Switch to a 15-year mortgage to pay off your Orange County home faster.
Save massive interest long-term
📊 Better Loan Features
Get better loan terms, remove prepayment penalties, or switch lenders.
Improved loan conditions
💡 Credit Improvement Benefits
If your credit has improved since your original loan, qualify for much better rates.
Reward your improved credit
When Should You Consider Rate & Term Refinancing?
✅ Great Time to Refinance
⏳ Wait or Consider Other Options
Your Orange County Refinance Process
Rate Analysis
We compare your current rate to today's market rates and calculate your savings.
Application
Quick online application with your financial information and loan preferences.
Processing
We handle underwriting, appraisal, and coordinate with your current lender.
Closing
Sign docs, your old loan is paid off, and your new lower payment starts!
Rate & Term vs Cash-Out Refinance
| Feature | Rate & Term Refinance | Cash-Out Refinance |
|---|---|---|
| Cash Back at Closing | No | Yes - Large Amounts |
| Maximum LTV | 95%+ | 80% |
| Interest Rates | Lowest Available | Slightly Higher |
| Loan Amount | Current Balance or Less | Higher than Current |
| Best For | Lowering Payments | Need Cash |
Ready to Lower Your Orange County Mortgage Payment?
Get your personalized rate and payment analysis in minutes
Licensed mortgage broker with NEXA Mortgage • NMLS #1426884 • Serving all of Orange County
Important Disclaimers
This is not a commitment to lend. All information contained herein is subject to change without notice. All loans are subject to credit approval, income verification, and property appraisal. Equal Housing Lender.
This material is not from HUD or FHA and has not been approved by HUD or any government agency. The information provided is for informational purposes only and is not an advertisement for products or services.
Interest rates and loan terms are subject to change without notice. All information must be verified prior to loan approval. Mo Abdel - NMLS #1426884, Licensed Mortgage Loan Originator with NEXA Mortgage.