Refinance Loan Center

Refinancing one’s original home loan is a very common occurrence. Very few loans have restrictions/penalties for refinancing, so you are free to consider loan options that better meet your needs. Here is a summary of the most common reasons to consider refinancing.

Why Refinance?

  • Rates are lower than your original rate. If the amount you can save divided into the refinance costs results in a monthly “breakeven period” that is shorter than the time you plan to remain in your home, you should probably consider a refinance.
  • You were originally required to have mortgage insurance because you put down less than 20% but now your home value has appreciated such that you now have at least 20% equity. With a new loan you can eliminate mortgage insurance and probably lower your rate also.
  • If your original loan was a fixed/adjustable hybrid, it may have entered its adjustable rate phase. If you plan to stay in your home for more than a year or two you should consider refinancing to a traditional fixed loan or to another fixed/adjustable hybrid.
  • If you have gained substantial equity in your home since you purchased it you have usable equity that can be borrowed and used for other purposes, such as home improvement, investments, assisting children with higher education costs or home down payments, etc.


There are many pros and cons of refinancing and then many options to consider once the decision to refinance has been made. Our job is to assist you in successfully navigating the options to achieve the best result.


Holmgren and Associates

DBA of Finance of America
4200 Broadway
Oakland, California 94611
Phone: 510-339-2121
NMLS 0910184/1071

Holmgren & Associates is a branch of Finance of America. We are a full service mortgage banker with an experienced staff offering expertise in residential mortgage lending, with primary focus on loans for home purchase, refinance, and reverse mortgages.

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©2019 Holmgren & Associates is a division of Finance of America Mortgage LLC |Equal Housing Opportunity | NMLS ID #1071 (| 300 Welsh Road, Building 5, Horsham, PA 19044 | (800) 355-5698 | Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act
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This is not a commitment to lend. Prices, guidelines and minimum requirements are subject to change without notice. Some products may not be available in all states.  Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision.  Any materials were not provided by HUD or FHA. It has not been approved by FHA or any Government Agency.  A preapproval is not a loan approval, rate lock, guarantee or commitment to lend. An underwriter must review and approve a complete loan application after you are preapproved in order to obtain financing.  Questions, comments, concerns? Send to