Refinance Your Bergen County Mortgage
Lower your rate, access home equity, or remove PMI. Current rates averaging 6.40% for 30-year fixed. Get pre-approved in 24 hours and close in 30-45 days.
NMLS 1577754 • Licensed in NJ, NY, PA, CT, MD, OH, GA
Why Refinance Your Mortgage?
Four powerful reasons Bergen County homeowners refinance
Lower Your Interest Rate
Reduce monthly payments and total interest paid. Rule of thumb: 0.75-1% rate drop makes refinancing worthwhile.
Example: $500K loan at 7.0% → 6.0%
Save $311/month
$111,960 saved over 30 years
Cash-Out Refinance
Access home equity for renovations, debt consolidation, or investments. Max 80% LTV (can borrow up to 80% of home value).
Example: $750K home, $300K owed
$300K Available
80% LTV = $600K max loan - $300K owed
Shorten Your Loan Term
Switch from 30-year to 15-year mortgage. Build equity faster, own your home sooner, save massively on interest.
Example: $400K @ 6.5%, 30yr → 15yr @ 5.75%
Save $254K
Total interest: $498K → $244K
Remove PMI
Eliminate private mortgage insurance once you reach 20% equity. Bergen County home appreciation makes this achievable faster.
Typical PMI: 0.5-1% of loan annually
Save $167-$333/mo
On $400K loan (until 20% equity)
Bergen County Refinance Requirements
Credit Score
620+
Conventional refinance minimum. 700+ gets best rates. FHA streamline accepts 580+. VA IRRRL flexible.
Home Equity
20%
Ideal to avoid PMI. 10% minimum for most loans. Cash-out requires 20% remaining after withdrawal.
Debt-to-Income
<43%
Conventional loans. FHA allows up to 50% DTI. Includes all monthly debts plus new mortgage payment.
📋 Documents Needed
Current Bergen County Refinance Rates
October 2025 • Rates updated daily • NMLS 1577754
30-Year Fixed
6.40%
APR 6.52%
15-Year Fixed
5.65%
APR 5.78%
Cash-Out
6.65%
APR 6.78%
Sample rates for qualified borrowers with 740+ credit, 20% equity, owner-occupied single-family home. Actual rate depends on credit score, LTV, property type, and other factors.
Calculate Your Refinance Savings
Use our free break-even calculator to see if refinancing makes sense for your situation. Get personalized rate quotes in minutes.
Jimmy Joseph MBA • NMLS 1577754 • jjoseph@cmghomeloans.com