A rate/term refinance adjusts your interest rate, your loan term, or both—without pulling extra cash out of your home. Your loan balance stays roughly the same, and the goal is simple: save money on interest or pay off your mortgage faster. A cash-out refinance replaces your current mortgage with a larger loan and gives you the difference as cash—ideal for renovations, debt consolidation, or major expenses. If you want to lower your monthly payment or build equity faster, rate/term is usually the move. If you need funds, cash-out could be the better fit. We'll walk you through both options side by side.

15-year refinance rates are typically 0.25%–0.75% lower than 30-year rates because the lender's risk is reduced over a shorter timeline. With a 15-year term, your monthly payments will be higher—but you'll pay significantly less interest over the life of the loan and build equity much faster. A 30-year term keeps monthly payments lower, freeing up cash flow for other priorities. There's no universally right answer—it depends on your budget and goals. Your Tri Valley advisor will run both scenarios so you can see exactly what each option costs and saves.

Refinance rates change daily based on market conditions, your credit profile, loan-to-value ratio, and loan amount. The best way to find out what you qualify for is to get a personalized quote. Tri Valley starts with a soft credit check—no impact to your score—so you can explore your options risk-free. Talk to one of our licensed loan advisors to see today's rates tailored to your situation.