Upgrade Your Mortgage and Save

Yes. You can refinance with Bridgewood Mortgage even if your current loan is with a different lender. Many homeowners choose to refinance with a new lender to get better rates, terms, or service.

With a rate & term refinance, you apply for a new mortgage that pays off your existing one. You can choose a shorter or longer term with a new payment and interest rate. You’ll need to qualify based on factors like your credit and income, and you’ll pay closing costs that can often be rolled into your new mortgage.

A rate & term refinance replaces your current mortgage with a new one — typically to lower your interest rate or change your loan term. Unlike a cash-out refinance, you’re not borrowing extra money. You’re just changing the rate, the term, or both to save over time.

If the numbers make sense, you could refinance with as little as 5% equity in your home. Your loan officer can walk you through what’s possible for your specific situation.

With Bridgewood Mortgage, the average time to close on a refinance is about 20 days, but this can be shorter or longer depending on how quickly we can verify your details and complete the appraisal.

Refinancing creates a new loan with a new term, so yes — your loan technically resets. However, you can choose a shorter term to keep your payoff timeline on track while still benefiting from a better rate or payment.