September 21st, 2018

Finance

Homeownership is, for millions of people, a true part of the American dream. Buying one of the many homes for sale is something that thousands will consider doing this year. The market is strong, with a lot of variety in terms of what homes are available. And, best of all, today's mortgages are more affordable and beneficial than ever before.

But what about those who already have a home and a mortgage? For these individuals, taking the time to go through the process of refinancing a mortgage may be well worth doing.

Refinancing Basics

Refinancing is just what it sounds like - taking out a new loan to replace your existing one. Essentially, your refinanced loan will pay off the principle owed on your current one and become the new loan that you pay on a monthly basis. Already, Americans have a total of $9.9 trillion in mortgage debt, and a refinance could be one of the best ways to ease the burden of a mortgage.

Top Reasons To Consider Refinancing Your Mortgage

Interestingly, mortgage refinances have fallen to their lowest point in 10 years recently. This is due largely to rising interest rates, but the fact remains that for many, refinancing could offer very real benefits that are worth considering. If you're unsure of whether or not you should refinance your home, looking at some of these benefits may help you make up your mind.

Lower Interest Rates

Despite the fact that interest rates have increased a small bit over the last year, refinancing could help you secure an interest rate much lower than you currently have. Even landing a rate that is 1% lower than your current one could help cut your monthly mortgage bill by a large margin and give you more extra cash in your wallet.

Build Equity

Changing from a 30 year loan to a 15 or 20 year loan structure could make it easier to build up equity in your home and save a large amount of money over the course of the loan.

Use Your Equity

If you already have built up equity, you can refinance to take advantage of that equity. Whether it's paying off credit card accounts or sending a child to college, refinancing could make it easier to pay off your bills by giving you a large influx of cash.

Credit Score Changes

If your credit score has changed dramatically, you may be able to secure a totally different loan with better terms. This can include interest rates, monthly fees, terms, and more.

Change Your Program

If you began your mortgage with an Adjustable Rate Mortgage, or ARM for short, you can use the refinance to secure a more stable fixed rate mortgage. This is excellent for those who aren't selling their home but prefer to remain in it since it gives them better stability.

Getting Started

If you're ready to refinance your home, local help is here to help make it happen. Contact a mortgage expert today.

AP Mortgage

980 9th Street Suite 1780, Sacramento, CA 95814 707-592-1732
At AP Mortgage, they embrace the concept of ownership with enthusiasm and optimism for the future of housing in America. As individuals, every employee at American Pacific Mortgage takes personal ownership in the process of originating home loans that will make your dream of ownership a reality.

Stephanie Uribe

My experience with Jason Mata surpassed all of my expectations. Jason is very professional and incredibly helpful. He is trustworthy and intelligent and has an extensive and in-depth knowledge of his field. During each of my many interactions with Jason it was abundantly clear to me that he truly cares for his clients and goes out of his way to ensure that we are well taken care of. His kindness and pleasant yet professional demeanor is very appreciated, especially as the home buying process is such a traditionally stressful life event. Jason made my experience as easy and enjoyable as possible. I highly recommend Jason Mata and his team to anyone - especially teachers such as myself. If I find myself buying another home in the greater Sacramento area in the future I will undoubtedly be calling up Jason!

02-01-2020

David Esquith

Over the years I have financed and refinanced my home and have always been reasonably pleased with the experience. This, however, was the first time with Jason Mata and American Pacific Mortgage -- and it was, easily, the best experience to date. Jason was always available and made sure that everything was clear. Additionally, the others with whom I interacted were consistently polite, informative, and timely with all communication. There were no glitches or snags which made this entire process completely uneventful and drama free. Without question, I would use Jason again if I needed to refinance and, also without question, will recommend him to anyone interested in obtaining a mortgage.

01-17-2020

Sandy Tao

Jason and his team are top notch. They always have one of the best loan products available and will work with you to get the best option available. If timing is not right, he will tell you to wait and get back in touch at a later time when timing does become right. They are very professional and friendly. Highly recommend!

12-31-2019

Paul Wells

Jason was very easy to work with. The reason is that he was very responsive to all my questions, he pushed my line through very quickly, and his staff were very supportive and patient and guiding me through the process. This is not the first time I worked with Jason I have worked with him in the past and he is the only person I will work with. I highly recommend him to anybody who is unsure about refinancing in the modern digital era. Lynne Wells

12-02-2019

Michelle Marzan

I was able to purchase my first home thanks to Jason Mata and his team at APM. He walked me through the home buying process, showed me all of my available loan options and was transparent with everything. Jason is extremely knowledgeable and quick to respond for any questions or concerns that I had. Would love to work with him and his team again.

02-18-2020

Louise B.

Where do I even begin?! Hands down BEST AGENT EVER! Jeremy is and was an amazing agent. I spoke with him over the phone first and he did not come off...

2020-01-23

Misty W.

Jeremy was extremely helpful with the loan for our first home. He communicated every step of the way and was really easy to work with, which made the buying...

2018-03-20

Desiree S.

Jeremy was so calm and supportive and gave me direction every step of the way! Even when I was anxious out of my mind throughout the whole process. He kept...

2018-06-17

Lu Bui

Jeremy is everything you would want in an agent. As a first time home buyer, I could have not made a better decision when work with Jeremy. He not only met my expectations but went above and beyond even after I closed and he handed me the keys. He is still helping me out! The few things that really amazed me was how much knowledge he had and he was in strong support of ensuring his clients had the same knowledge. I've learned so much from Jeremy even after my millions of questions. He took care of things that I didnt realize until I would have a freak out. That was the funny part. I'd have freak outs for no reason because id tell jeremy my concerns and he would ALWAYS respond with "oh i already got that taken care of". He knows the value of a dollar meaning he will go to the ends of the earth to ensure you are satisfied with your loan terms, purchase agreement, etc. He sets you up for success. The best part is, he still sticks around to ensure you continue to be successful and comfortable with your purchase after everything is signed and done. I guarantee you will not go wrong or regret working with Jeremy.

2020-01-24

Carina Kool

Jeremy was a pleasure to work with. He was very responsive to all of our inquires. We highly recommend him to anyone looking to purchase a home or to refinance their home.

2019-07-24

Melanie Jordan

Jeremy was really great to work with! He was very responsive to all of my requests and made the entire loan process very easy to understand. I highly recommend Jeremy to anyone looking to buy or refinance!

2018-01-09

Dustin Dravland Robinson

If you don’t think you can afford to own your own home or if you want the best pricing/terms on the purchase of an investment property, talk to Jeremy! Jeremy has amazingly innovative lending structures to help just about anyone (and anywhere) get onto the home ownership ladder and get off the rental circuit. I highly recommend Jeremy as a lender after he has consistently helped many of my clients get pre-approved and find their dream home after they never thought it was possible. Call/Text/Email Jeremy today! Sincerely, Dustin Dravland Robinson, Realtor who has sold over 100+ homes with over a decade of experience in California real estate.

2017-12-27

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