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San Jose Refinance Information - Cash Out Refinance

Another way to make a San Jose refinance work for you is to refinance for more than the balance remaining on your old mortgage -- in effect, tapping your home equity, or "cashing out," in mortgage speak. Thanks to favorable rates, you may be able to do so without boosting your monthly outlay. For example, at 8.5%, the payment on a $200,000, 30-year fixed-rate mortgage is $1,538. But at 7.5%, that same payment lets you borrow nearly $20,000 more. The best use for the extra cash is to pay off any higher-rate loans you may have. Let's say that you are carrying a $15,000 car loan at 10% and making minimum payments on a $10,000 credit-card balance at 17%. Your monthly payments on those debts would total $680. Then assume you refinanced your mortgage, taking out an additional $25,000 to pay off your car and credit-card loans. Result: At 7.5%, your additional monthly mortgage payment would total only $175, so you would come out $505 ahead ($680-$175=$505).

Pay Points for Lower Rate Cash Out Refinance Deciding to Refinance
Refinance Considerations Refinance and Save Refinance Options


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Additional San Jose Refinance Information


santa clara county

campbell cupertino gilroy los altos los altos hills
milpitas morgan hill palo alto san martin mountain view
santa clara saratoga stanford sunnyvale los gatos mtns
los gatos san jose monte sereno blossom valley west san jose
cambrian evergreen east valley almaden valley central san jose
santa teresa willow glen north valley south san jose

san mateo county

atherton belmont brisbane burlingame daly city
colma hillsborough foster city el granada east palo alto
la honda loma mar menlo park millbrae half moon bay
montara moss beach pacifica pescadoro portola valley
san bruno san carlos san gregorio san mateo redwood shores
woodside redwood city south san francisco

santa cruz county

capitola scotts valley soquel watsonville bonny doon
davenport north coast freedom corralitos la selva beach
aptos rio del mar seacliff ben lomond san lorenzo valley
brookdale boulder creek felton live oak lompico-zayante
santa cruz

monterey county

carmel carmel valley del ray oaks fort ord marina
monterey pacific grove pebble beach salinas seaside
aromas castroville carmel highlands prunedale big sur
spreckles toro park corral de tierra chualar gonzales
greenfield king city soledad

san benito county

hollister tres pinos dunneville paicines new idria
san juan bautista

san francisco county

north beach nob hill excelsior bayview inner mission
lakeshore noe valley pacific heights richmond presidio
parkside sunset diamond heights

alameda county

alameda albany berkeley dublin castro valley
emeryville fremont hayward livermore newark
oakland piedmont pleasanton san leandro san lorenzo
sunol union city

contra costa county

alamo antioch bay point bethel island byron
knightsen blackhawk brentwood clayton concord
clyde crockett port costa danville diablo
discovery bay el cerrito el sobrante hercules lafayette
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California Mortgage | San Jose 650.377.0222 | License # 01344525
777 Mariners Island Blvd. Suite 125, San Mateo, CA 94404
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Additional San Jose Information:
Being the 3rd largest city on the west coast and the 11th largest city in the United States, San Jose as a city stands alone amongst all the other Bay Area communities. San Jose can offer everything that the other big Bay Area cities like San Francisco and Oakland can offer. It has an airport, universities, libraries, museums and a vibrant downtown. Located in Silicon Valley, San Jose was the leader of the dot-com boom and today its industry still thrives on technology and everything needed to support it. The city is also a great place for families since it was declared the safest big city in the US for three consecutive years by Morgan Quitno Press. San Jose’s unique location is another reason that it’s so desirable to live in. San Francisco is just a hop, skip and a jump away and the popular beach town, Santa Cruz, is just on the other side of the Santa Cruz mountain range. The city of San Jose has everything you could possibly want in a city, affordable housing, lots of employment, and world-class entertainment.