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Rate-and-Term Refinance in California

We help California homeowners reduce their monthly payments, pay off their homes faster, and save thousands over the life of their loans through Rate-and-Term Refinance options. Whether you want to lock in a lower rate or switch from a 30-year to a 15-year mortgage, refinancing with us is one of the smartest financial moves you can make.
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About

What Is a Rate-and-Term Refinance?

A Rate-and-Term Refinance allows you to replace your current mortgage with a new one that has a better interest rate, a different loan term, or both — without taking out extra cash.
It’s ideal for homeowners looking to:
  • Lower their monthly payments
  • Secure a lower fixed rate
  • Or shorten their mortgage term to build equity faster
Unlike a cash-out refinance, this option focuses entirely on improving your loan terms to maximize long-term savings.
Eligibility Criteria

Who Is Eligible for a VA Loan in California?

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Credit Score

Typically 620+, though higher scores qualify for better rates

Equity

You have built up some equity in your home (usually 5% or more).

Debt-to-Income Ratio

Preferably under 50%.

Steady Income

Proof of consistent income for at least two years.

Loan Type

Works for conventional, FHA, VA, and jumbo loans.

Benefits

Benefits of Refinancing

Lower Monthly Payment

Lock in a better rate and keep more of your income each month.

Reduce Your Interest Rate

Save thousands over the life of your loan.

Change Your Loan Term

Switch from 30 years to 15 years (or vice versa).

Build Home Equity Faster

Pay off your loan sooner and own your home quicker.

Switch to a Fixed Rate

Move from an ARM to a stable, predictable payment.

No Cash Needed

You’re only refinancing your existing balance, not borrowing more.

Types

Types of Rate-and-Term Refinance Loans

Conventional Refinance

  • Best For: Borrowers with good credit
  • Highlights: Competitive rates and flexible terms

FHA Streamline Refinance

  • Best For: FHA homeowners
  • Highlights: No appraisal, minimal paperwork

VA IRRRL (Streamline)

  • Best For: Veterans and service members
  • Highlights: No PMI, lower rate, and fast approva

Jumbo Refinance

  • Best For: High-value homes
  • Highlights: Custom loan options for large loan amounts
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Frequently
Asked Questions

Still have a question?

JLLendingTeam: A collaborative group specializing in providing tailored lending solutions and financial support for clients.
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What’s the best time to refinance?
When interest rates drop or your credit score improves, it’s a great time to refinance and lock in savings.
Some government programs (like FHA Streamline or VA IRRRL) allow limited or no-equity refinances.
A small, temporary dip may occur, but the long-term financial savings outweigh the short-term impact.
Yes! Refinancing into a fixed-rate loan provides long-term stability and predictable monthly payments.

Still have a question?

JLLendingTeam: A collaborative group specializing in providing tailored lending solutions and financial support for clients.
Send Email
JL Lending Team

Why Choose Us for Rate-and-Term Refinancing?

Local Experts

Serving California’s veterans with deep knowledge of the state’s housing market.

Fast, Tech-Enabled Process

Apply, upload documents, and track your loan online.

Personalized Guidance

We’re not tied to one lender — we find the best loan for you.

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Ready to Refinance and Save?

Lower your rate. Shorten your term. Take control of your financial future. Let JL Lending Team show you how much you can save with a Rate-and-Term Refinance today.
Start now and see your potential monthly savings.

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