Do a California refi to get a lower rate or pay off your loan more quickly Refinancing is a good idea for many homeowners who can't afford their mortgage due to a high interest rate and the resulting high monthly payment. Some homeowners have had an adjustable rate mortgage adjust up to a rate that's too high for them to afford. You can also consider taking out a lower-interest 15- or 20-year loan if you want to own your home faster (and can afford the increased monthly payment).

I recommend:  Pay off your loan faster with an accelerated refinance option from Saratoga BanCorp. If you have bad credit, Online California Mortgages can help you out.

Find lenders who do cash-out mortgage refinancing in CA You can get the money based on the equity you've built in your home by doing a cash-out refi. There are myriad options for what you can do with some extra cash: You can remodel your home, pay off debt or use it to purchase a big-ticket item you've had your eye on.

I recommend:  Take a look at the options available for your cash-out refi at Empire Home Loan Corporation. See if a refinance through First Security Lending is right for you.

Investigate refinance rates for California homeowners You should know what you're talking about when you go to see a mortgage broker or lender. Some lenders are predatory and try to take advantage of their customers: Do your homework and know what kind of rates you should be offered before applying for a refinance.

I recommend:  Check out MortgageLoan.com to find national lenders offering refinances in California. Compare the rates of several California companies at Mortgage101.