What is Assist Home Loans?

An independent mortgage broker portal for San Luis Obispo County, connecting homeowners with 40+ wholesale lenders for competitive rates and expert guidance.

When does it make sense to refinance?

Generally, refinancing makes sense if you can lower your rate by 0.5% or more and plan to stay in your home long enough to break even on closing costs. It can also make sense if you want to change your loan term, remove PMI, or access equity — even at a similar rate. We'll run the specific numbers for your situation.

How long does a refinance take?

Most refinances close in 20–30 days from application. Cash-out refinances can take slightly longer due to additional underwriting. We manage the process and keep you updated every step of the way.

Will refinancing hurt my credit score?

A formal refinance application requires a hard credit pull, which may temporarily lower your score by a few points. However, if you're rate shopping with multiple lenders within a 45-day window, credit bureaus treat all those pulls as a single inquiry. The impact is typically small and short-lived.

How much equity do I need to refinance?

Most lenders require at least 5–10% equity for a rate-and-term refinance. For cash-out refinances, most lenders want you to retain at least 20% equity after the cash-out. If you're close to the threshold, we can run the numbers on current appraised value to see where you stand.

Are there closing costs when refinancing?

Yes — typically 2–4% of the loan amount. However, some lenders offer 'no-closing-cost' refinances where costs are rolled into the rate or loan balance. We'll show you the comparison: upfront costs vs. the no-closing-cost option, and which one saves you more given your timeline.

Refinance · SLO County

Refinance Your SLO County Home —
Find Out If the Numbers Work

Free analysis. No credit check. No pressure. Just an honest look at what a refinance could save you.

See If You Qualify

No hard credit check · Takes just minutes

San Luis Obispo County homeowners have built significant equity over the past several years. Whether you want to lower your monthly payment, shorten your loan term, pull cash out for a renovation, or finally drop that PMI — a refinance might be exactly the right move.

The key word is 'might.' We'll run the honest numbers with you — including the break-even timeline — before recommending anything. Our job is to tell you the truth, not to close a loan.

Why Refinance?

Four Reasons SLO Homeowners Refinance

Lower Your Rate

If today's rate is meaningfully lower than what you're paying, a refinance can reduce your monthly payment and total interest paid over the life of the loan.

Shorten Your Term

Going from a 30-year to a 15-year loan typically means a higher payment — but you pay far less interest and own your home free and clear much sooner.

Cash-Out Your Equity

SLO County home values have appreciated significantly. A cash-out refinance lets you access that equity for home improvements, debt consolidation, or other goals.

Remove PMI

If you put less than 20% down and your home has since appreciated, a refinance at a new appraised value may eliminate your PMI payment entirely.

Free Second Opinion

Getting a Loan Elsewhere? Get a Free Second Opinion.

Send us a competing quote and we'll compare it line by line — rate, APR, fees, and total cost of the loan. We'll tell you honestly if you've already found a great deal, or show you where we can do better.

Request a Loan Comparison

The Break-Even Concept

The Break-Even Question

Every refinance has closing costs — typically 1–3% of the loan amount. They can be covered by paying out of pocket, built into your loan balance, or absorbed into a marked-up interest rate (some lenders call this "zero cost," but it's far from free). The break-even point is how long it takes for your monthly savings to cover those costs. If you plan to stay in your home beyond that point, refinancing typically makes financial sense.

Example:

If your refinance costs $4,000 and saves you $250/month, your break-even is 16 months. If you plan to stay for 5+ years, that's a strong case for moving forward.

We'll calculate this for you specifically — no generic estimates.

Common Questions

Refinance FAQs

No Cost. No Obligation. No Credit Check.

Let's Run the Real Numbers

Five minutes. No credit check. We'll tell you exactly what a refinance would look like for your home and your goals.