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Gilroy Refinance Information - Deciding to Refinance

Traditionally, the decision on whether or not to refinance your Gilroy home has meant balancing the savings of a lower monthly payment against the costs of refinancing. But in recent years, companies have introduced "no cost" and low-cost refinancing packages that minimize or completely eliminate the out-of-pocket expenses of refinancing in Gilroy. (These refinancing packages compensate with a higher interest rate, or by including some of the costs in the amount that is financed.) With traditional refinancing, the most often cited rule-of-thumb is that the interest rate for your new mortgage must be about 2 percentage points below the rate of your current mortgage for refinancing to make sense. However, with the newer low- and no-cost refinancing programs, it can be worth your while to refinance to obtain a smaller reduction in interest rates. How long you expect to stay in your Gilroy home is also a factor to consider. If you'll be moving in just a few years, the month-to-month savings may never add up to the costs that are involved in refinancing your Gilroy home.

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Additional Gilroy Refinance Information


santa clara county

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san mateo county

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santa cruz county

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monterey county

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san benito county

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san francisco county

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alameda county

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contra costa county

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California Mortgage | Gilroy 650.377.0222 | License # 01344525
777 Mariners Island Blvd. Suite 125, San Mateo, CA 94404
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Additional Gilroy Information:
When people think Gilroy, they think garlic. But what they should think of is a peaceful tree-lined residential town with an old town feel. Centrally located, Gilroy offers access to Monterey Bay, Santa Cruz, the San Joaquin Valley, and the San Francisco Bay Area. It is located at the intersection of US Highway 101 and California Highway 152. Gilroy residents enjoy hot summer and moderate winter temperatures and mostly avoid the pesky coastal fog. Historically, Gilroy’s economy has been based on the blossoming agriculture of the surrounding area and some government office and retail outlets. There are twelve different parks in Gilroy including Christmas Hill Park, site of the annual Gilroy Garlic Festival. The parks give Gilroy residents an outlet to exercise or relax, whichever they prefer. The city’s 13 public schools are high-performing and provide every pupil with individual attention. Gilroy is an all-around charming community that gives you that warm and fuzzy feeling inside. The people are generous, friendly and down-to-earth. Come have a visit and you’ll know what we’re talking about.