Current refinance guidelines, updated from one source.
One guideline source per program feeds every number here, and the page updates when a source does. Read the four cards as the program’s settings, not an offer: how far a conventional refinance may reach as a share of value, where mortgage insurance begins and ends, what an FHA streamline and a VA IRRRL ask of the loan being replaced, and where the credit floor and the ratio ceiling sit.
One-unit principal residence; mortgage insurance above 80%
The conventional rate-and-term refinance reaches 95% loan-to-value on the home the borrower lives in, with 97% only on the first-time-buyer programs for an agency-owned loan. It rolls in the old balance, the costs, and a purchase-money second; paying a non-purchase-money second or a credit line through it makes it a cash-out. Mortgage insurance begins above 80%; the owner may cancel it at 80% of the original value, and it falls away by itself at 78%.
An existing FHA loan, refinanced with a net tangible benefit and a limited credit review
The streamline is the lightest refinance FHA offers: no appraisal, a limited credit review, and a requirement that the new loan deliver a net tangible benefit, tested against the loan being replaced and its payment history. The premium continues. Where an appraisal is used, FHA’s rate-and-term reaches 97.75% on an owner-occupied principal residence.
An existing VA loan, no VA appraisal; seasoning of 210 days and six payments
The IRRRL is VA’s streamline: it refinances an existing VA loan with no VA appraisal, a 0.5% fee unless the veteran is exempt, and a net tangible benefit to the veteran, and it cannot close until the old loan has seasoned 210 days and six payments. Where the new loan does not exceed the payoff, the fees and costs must be recouped through the lower payment within VA’s recoupment window.
DTI to 50%; jumbo from 660 on its lanes
Score and ratio for a San Bernardino refinance: 620 is the conventional floor, 50% the automated ratio ceiling, and the finding weighs the rest of the file. The jumbo lanes, for balances above the conforming limit, start at 660, reach 90% of value on the headline lane, lend to $5,000,000, and hold the ratio to 50% on the fixed lanes with reserves per the lane.
| Program | Loan being replaced / occupancy | Maximum LTV | Conditions |
|---|---|---|---|
| Conventional rate-and-term (Fannie Mae / Freddie Mac) | One-unit principal residence | 95% | limited cash-out: the old loan, the closing costs and a purchase-money second roll in, incidental cash only; 97% where the existing loan is agency-owned and the first-time-buyer program allows; mortgage insurance above 80% |
| FHA streamline | Existing FHA-insured loan | No LTV test | appraisal not required; net tangible benefit; limited credit review; the previous loan’s seasoning and payment history apply; FHA mortgage insurance continues |
| FHA rate-and-term | Principal residence (owner-occupied the previous twelve months) | 97.75% | with an appraisal and full credit review; FHA mortgage insurance on the new loan |
| VA IRRRL | Existing VA loan; a home the veteran previously occupied | No LTV test | 0.5% funding fee (financeable; exempt veterans pay none); no VA appraisal; net tangible benefit; seasoning the later of 210 days and six payments |
| Jumbo rate-and-term (wholesale lanes) | Above the conforming limit | 90% | 660+ score on the headline lane, loans to $5,000,000, DTI to 50% on the fixed lanes; reserves and the appraisal count per the lane |
A refinance that returns cash is a cash-out refinance and is covered by the conventional, FHA, VA and jumbo cash-out programs; a line of credit that leaves the first mortgage in place is the HELOC program. Each carries its own leverage and its own rules.
Current refinance snapshot · updated October 3, 2026 · a refinance replaces the whole loan and restarts the term unless a shorter term is chosen · closing costs are paid from the loan or at closing and are recovered only through the monthly saving · conforming limits apply by county and are confirmed by a Lendmire loan officer · Lendmire is a broker licensed in sixteen states for consumer mortgages, never the lender.
Informational only; not a commitment to lend, an approval, or a quote. Every program figure on this page is an agency, HUD, VA, or wholesale overlay parameter read from Lendmire’s guideline sources on the date shown and may change without notice; eligibility, the program, the leverage, and the terms depend on the credit profile, the value, the loan being replaced, the occupancy, the state, and full underwriting. The calculator’s rate is a published weekly average, not a quote. Lendmire LLC, NMLS #2371349, mortgage broker, licensed in sixteen states. Equal Housing Opportunity.
What a rate-and-term refinance is — and how the file is qualified.
Four questions decide a San Bernardino refinance file: what the new loan replaces and what it may include, which program fits the mortgage already on the home, whether the saving recovers the cost and passes the program’s benefit test, and whether the owner actually wants cash, in which case this is the wrong page. Each one is answered in turn.
For the program overview, see Lendmire’s refinance program, or the statewide guide at Refinance in California; when the goal is cash, see the cash-out refinance program.
One new loan replaces the old one
Replacing a mortgage means paying it off with a new one on the same home. The new balance is the old balance plus the closing costs, where they are rolled in, and nothing comes back to the borrower beyond an incidental amount; paying off a line of credit or a non-purchase-money second through the loan turns it into a cash-out, which is a different program with its own leverage.
Four programs, one question: which applies
Match the program to the loan being replaced. FHA to FHA: the streamline, no appraisal, limited review, premium continues. VA to VA: the IRRRL, no VA appraisal, a small fee, a benefit test. Anything to conventional: an appraisal, the leverage cap, and no mortgage insurance at or below the line. Above the conforming limit on any route: the jumbo lanes, with their own scores and reserves.
The benefit test and the break-even
Costs are recovered only through the monthly saving, so the break-even in months is the first figure to read. A shorter term can raise the payment and still save interest; a longer term can lower the payment and raise the interest paid over the life of the loan, because the clock restarts. The calculator on this page shows both, and the government streamlines test the benefit formally.
When the goal is cash, not terms
If the reason to refinance is cash, this is the wrong page, and saying so early saves a wasted application. The cash-out programs size the new loan on the value and return the difference; the HELOC adds a second lien behind a first mortgage worth keeping. Each has its own guide. The rate-and-term refinance is for an owner who wants better terms on the same balance.
The calculator asks for what only you know, the balance, the current rate, the years left, and the closing costs you have been quoted or expect, and takes the rest from the programs. What comes back is the new payment, the monthly change against the current payment, the months to break even, and the interest over the new term beside what remains on the old loan, for a San Bernardino home.
Where San Bernardino’s mortgages were written — and what a refinance changes.
A refinance is written against a local market, and these are San Bernardino’s numbers from the U.S. Census Bureau: how many households own their homes, what a typical home is worth, and what households earn. Together they describe the mortgages in the market and the payments its owners carry.
Citywide figures provide general market context, not an appraisal or an income calculation. Ownership and income describe the market; the appraisal and the pay stubs describe the file. The figures below say what is typical for San Bernardino, and the calculator says what a particular balance and value produce.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct San Bernardino neighborhoods, distinct refinance questions.
A refinance follows the loan already on the house, and the loans differ by neighborhood: FHA on the starter streets, VA near the base, jumbo on the hill, conventional nearly everywhere. The cards below take San Bernardino’s submarkets one at a time.
Long-held close-in homes
Deep equity changes the refinance from a leverage question to a term question. On a long-held San Bernardino home the new loan sits well under the cap and the insurance line, and the choice is between a lower payment on a fresh thirty years and a shorter term that keeps the payment close and cuts the interest; the review runs both. Roughly 32,092 San Bernardino households own their homes on the latest Census estimate — 50% of all households, the pool a refinance draws on.
Two- to four-unit homes
Small multi-unit homes refinance on every route the existing loan allows, with their own cap and with the rents helping the ratio within the rules. The FHA streamline and the VA IRRRL apply to the government loan on the property exactly as on a house; the conventional route adds the rent schedule and the occupancy’s leverage. On a San Bernardino home at the median value, a conventional rate-and-term refinance at the leverage cap allows a new loan up to $401,000 — the existing loan, the closing costs, and a purchase-money second lien are what it may pay off.
Condominiums and townhomes
Townhomes in a planned development and condominiums in a tower refinance differently in one respect: the condominium brings the project review. The FHA streamline and the VA IRRRL do not re-review the project on an existing government loan, which is one reason an eligible San Bernardino borrower in a building with questions may prefer them. About 50% of San Bernardino’s households rent — roughly 32,107 renter households on the latest Census estimate.
Newer infill and recent purchases
New rows and recent infill in San Bernardino were bought at recent prices, often with small down payments, and a refinance on them runs into the insurance line first: the new loan, with the costs inside it, must sit at or under the published line to carry no mortgage insurance, and often does not yet. The streamline or the IRRRL serves an FHA or VA buyer there; a conventional buyer waits for equity or accepts the premium. Median household income in San Bernardino sits near $67,415 on the latest Census estimate.
High-value homes near the limit
The conforming limit, confirmed per county rather than printed here, is the line between two rulebooks on a San Bernardino refinance. Fixed, adjustable, and interest-only jumbo structures exist above it, each on its own lane; below it the agencies’ figures in the snapshot govern. The review places the loan with the costs included before choosing. San Bernardino is home to about 223K people and sits within the Riverside-San Bernardino-Ontario, CA area.
Rentals held for years
A San Bernardino rental held for years refinances rate-and-term on the conventional or jumbo route at the investment occupancy’s own leverage, stated for the file, with no rescission period at funding and the rent counted as the agencies allow. A veteran’s former home now rented is eligible for the IRRRL. Cash out of a rental is a different program with its own guide. The median owner-occupied home value in San Bernardino runs near $422,300 on the latest Census estimate.
From the oldest San Bernardino neighborhood to the newest, the file is judged the same way, with the program figures as constants and the balance, the value, and the costs as the variables.
Four reasons San Bernardino homeowners rewrite the mortgage.
A few reasons account for most San Bernardino refinances, and they pull in different directions: a lower payment stretches the term, a shorter term raises the payment, shedding insurance needs equity, fixing a rate needs a fixed-rate program. Here are four of them and the route that serves each.
Remove or add a borrower
A name comes off the note only when the loan is rewritten, and the remaining borrower qualifies alone on income, credit, and the ratio. The San Bernardino file is otherwise an ordinary rate-and-term refinance, with the decree, the deed, or the estate documents added; where equity is paid to the departing owner through the loan, the cash-out rules apply instead.
Fold in a purchase-money second lien
The agencies draw the line at the purchase. A purchase-money second rolls into a limited cash-out refinance; a non-purchase-money second or a HELOC does not, however little was drawn. The distinction decides the program, the leverage, and the price, so a San Bernardino loan officer confirms the origin of the second lien before sizing the file.
Shorten the term
Owners who have paid a thirty-year loan for a decade often find a shorter term costs little more each month and far less in interest, because the old loan is still front-loaded with interest. The San Bernardino file is qualified on the new payment, and the break-even is quick when the costs are modest and the term is cut substantially.
Fix an adjustable rate
An adjustable loan approaching its first reset, or one that has already adjusted, is refinanced into a fixed rate to end the uncertainty. Conventional, FHA streamline, and VA IRRRL all allow the move, and converting an adjustable to a fixed rate is itself a net tangible benefit under VA’s test. The San Bernardino file is qualified on the new fixed payment.
Estimate the new payment and the break-even on a San Bernardino home before requesting a quote.
Start with what you know about the San Bernardino loan: the balance, the rate, the years left, and the costs you expect. Then pick the program and the new term. The result shows the new payment, the monthly change, and the months to recover the costs. It also shows the interest over the new term against what the current loan still owes. Every field is editable and nothing here is a quote.
San Bernardino refinance savings and break-even estimate
Seeded with San Bernardino’s median value and a proportional balance; the current rate and the years remaining are yours to enter, and the costs are an editable placeholder, not a quote.
Editable benchmark: 7.28% as of October 1, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not a refinance quote.
Illustrative starting assumptions: a $420,000 home value near San Bernardino’s median owner-occupied value, a $294,000 current balance, a current rate and remaining term you enter, closing costs seeded at $6,000 as an editable placeholder (not a fee quote), a thirty-year term at the current Freddie Mac benchmark, and property taxes and insurance estimated for California (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The new rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not a refinance quote; a refinance is priced by the lender at lock, and the current rate, the remaining term and the closing costs are figures you enter. The current payment is estimated from the balance, the current rate and the remaining term; the break-even divides the closing costs by the monthly saving and ignores the interest effect of a longer term. On the VA IRRRL the funding fee is added to the loan unless the veteran is exempt. Taxes and insurance are editable estimates. Licensed in sixteen states for consumer mortgages; Lendmire is a broker, never the lender.
Same home, four ways to refinance it.
Which refinance fits depends on the loan being replaced, the balance, and what the owner wants from the new loan. The cards compare the conventional route, the government streamlines, and the jumbo lanes on the same San Bernardino questions: the appraisal, the leverage, the insurance, the fee, and the review.
Conventional, streamline, or jumbo.
The conventional rate-and-term refinance replaces whatever first mortgage is on the home with an agency loan: value tested by appraisal, leverage capped as in the snapshot, mortgage insurance ending at the line, the old loan and the costs inside the new balance. It asks the most of the file and reaches the most homeowners, including FHA borrowers ready to shed the premium. See the conventional loan program.
Two streamlines for two existing loans. The FHA streamline refinances an FHA loan with no appraisal, a limited credit review, and a net tangible benefit; the premium continues. The VA IRRRL refinances a VA loan with no VA appraisal, a small funding fee unless the veteran is exempt, a benefit test, and seasoning on the old loan. Both trade paperwork for a benefit test and return no cash. See the FHA and VA programs.
The jumbo refinance is the conventional file written larger: an appraisal, sometimes two, the lane’s leverage cap, a stricter credit floor, and reserves after closing. It replaces a jumbo first mortgage, or a conforming loan that has grown past the limit through costs, and returns no cash; the cash-out version lives on the jumbo cash-out page. See the jumbo loan program.
The loan being replaced points to the program, the balance points to conforming or jumbo, and the goal points to the term: shorter to save interest, longer to lower the payment, fixed to end the resets. What none of the four does is return cash; for that, the cash-out programs and the HELOC are the instruments, each with its own guide.
What to prepare for a San Bernardino scenario review.
The paperwork is the standard refinance set, with the automated finding deciding how much of it the file actually needs and the streamlines asking for far less; here is what a San Bernardino refinance review typically draws on.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the transaction, the property, the automated finding, and the income picture. Nothing here is legal or tax advice.
Local details that can change the loan.
A handful of details decide whether a San Bernardino refinance closes as planned, closes on different terms, or should not close at all. These are the ones that come up most.
Use these checks to keep the San Bernardino file clean and fundable.
The order that saves wasted fees: first the break-even and the term comparison on your own figures, then the program the loan being replaced allows, then the value question, and only then the appraisal and the application.
- Run the break-even: Costs rolled into the loan lengthen the break-even slightly; costs paid at closing shorten it.
- Weigh the reset: Read the interest comparison in the calculator before choosing the term.
- Confirm the second lien: A purchase-money second rolls into a rate-and-term refinance.
The costs are recovered only through the saving
A refinance that saves a modest amount each month against substantial costs can take years to pay for itself. The rule is simple: if the months to break even exceed the months the owner expects to keep the loan, the refinance does not pay, whatever the new payment looks like. A Lendmire review states the break-even in writing before any fee.
The term starts over unless you choose a shorter one
Resetting the term is the quiet cost of most refinances. The payment falls because the balance is spread across more years, and the interest paid over the life of the loan rises for the same reason. The fix is a shorter new term, which raises the payment back toward the old one and keeps the interest saving; the review runs both versions for the San Bernardino owner.
A second lien decides whether this is rate-and-term at all
A second mortgage taken when the home was bought can be paid off inside a conventional rate-and-term refinance. A second lien or a line of credit opened after the purchase cannot: paying it through the new loan makes the file a cash-out, with cash-out leverage and cost, even when the borrower receives nothing. The origin of the lien, not its balance, decides.
Above the conforming limit the jumbo lanes apply
The conforming limit is the line between two rulebooks. Under it, the agencies’ leverage, insurance, and credit figures apply; over it, the jumbo lanes carry their own. A San Bernardino owner near the line should know which side the new loan lands on with the costs included, because the reserves and the appraisal count change with it.
The appraisal decides the conventional and jumbo routes
Expect an appraisal on the conventional and jumbo routes and none on an FHA streamline or a VA IRRRL. Improvements count to the extent the market pays for them; comparable sales decide the rest. A value that disappoints leaves three options for a San Bernardino owner: a smaller loan, a reconsideration with better comparables where they exist, or waiting.
From a San Bernardino scenario review to a new first payment.
From the first conversation to the new first payment, a San Bernardino refinance moves through four stages, and the first one, the review, is where most files should be decided. The rest is documentation, the appraisal where the program needs one, and the closing.
Scenario review
Everything begins with the arithmetic on the owner’s own figures. The program, the term, the costs, the break-even, and the interest comparison are run before an application exists, and the loan is placed against the cap and the insurance line on a cautious value, so a San Bernardino owner decides with the numbers in hand and nothing has been spent.
Application and automated finding
The application goes to the selected wholesale program and the automated finding comes back with the documentation the file needs; the FHA streamline and the VA IRRRL follow their own limited review instead. The finding sets the ratio ceiling and often trims the paperwork; the loan officer reads it before the appraisal is ordered.
Appraisal and underwriting
Value first, then verification. On a conventional or jumbo refinance the appraisal is the one input the San Bernardino owner cannot control; on a streamline or an IRRRL there is none. Underwriting reads the finding’s conditions, the payoff, and the benefit test where it applies, and, where the file supports it, approves the loan on the terms the review set out.
Closing, rescission, and funding
At closing the new loan is signed, the payoff is ordered, and after the rescission period on a home the borrower lives in, the old loan is retired and the new one begins. Second homes and investment property fund without the wait. The new servicer sends the first statement, and any saving the review showed starts with it.
A brokerage that runs the break-even honestly.
Why San Bernardino owners bring a refinance to a brokerage: the programs are compared side by side, conventional, the streamlines, and jumbo, on the same numbers; the file is placed with the wholesale program that fits it rather than the only one a lender sells; and the answer, including the answer not to refinance, is given in writing first.
The break-even, run before anything else
The arithmetic is run on the owner’s own figures before an application exists: the saving, the months to break even, the term reset. When the refinance does not pay, the recommendation is to wait, and that recommendation is given as readily as the other.
Shopped across wholesale programs
Several wholesale programs compete for a San Bernardino refinance, and the differences in cost, in reserves, and in what the file must show are real. Lendmire runs the comparison and shows it, so the owner sees why one program was chosen over another.
Terms in writing, before any fee
The review ends with written terms on a cautious value, and nothing is ordered until the San Bernardino owner agrees the plan is worth an appraisal where one applies. The appraisal is not ordered for a plan the review has already ruled out.
Trusted by homeowners & families alike.
San Bernardino refinance FAQs
Plain answers to the questions San Bernardino homeowners ask most about refinancing, in the order they usually ask them.
What is a rate-and-term refinance, and how is it different from a cash-out?
The difference is cash. A rate-and-term refinance can lower the payment, shorten the term, end mortgage insurance, fix an adjustable rate, or change the borrowers, and returns only incidental cash. A cash-out refinance exists to return cash. Paying off a line of credit or a non-purchase-money second through the loan makes the file a cash-out even when the borrower receives nothing.
When does refinancing actually make sense?
Run three numbers: the costs divided by the monthly saving, which is the break-even; the interest over the new term against what remains on the old loan; and how long you expect to keep the home. If the break-even is comfortably inside your horizon and the term reset does not erase the saving, it pays. If not, waiting is the better refinance.
What does a refinance cost to close?
A refinance carries lender and third-party charges, prepaid interest and escrow deposits, and title and recording costs; on a VA IRRRL the funding fee is added unless the veteran is exempt. The figures depend on the loan, the program, and the state, and are stated in the written terms and on the Loan Estimate rather than on this page. They can be paid at closing or, within the program’s rules, rolled into the loan, where they raise the balance and lengthen the break-even slightly.
Can I get rid of mortgage insurance by refinancing?
Refinancing is one of two ways. The other, for a conventional loan, is a cancellation request to the servicer at the published line, which costs nothing. For an FHA loan the refinance is the only way, and the new loan must be conventional and at or below the line, which an appraisal decides.
What is an FHA streamline, and who can use it?
The FHA streamline refinances an existing FHA-insured loan into a new FHA loan with no appraisal, a limited credit review, and a requirement that the new loan deliver a net tangible benefit as HUD defines it; the previous loan’s seasoning and payment-history rules apply, and FHA mortgage insurance continues on the new loan. Only a borrower whose current loan is FHA can use it, and a borrower who wants the premium gone refinances conventionally instead.
What if I want cash out of my home as well?
Cash means the cash-out programs or the HELOC, each with its own guide and its own rules. Nothing on this page sizes a loan for cash, and a loan officer who hears that cash is the goal moves the conversation to the right program before anything else.
Can I refinance a rental or a second home with a rate-and-term loan?
Yes on the conventional and jumbo routes, at the leverage the occupancy allows, which is stated for the file rather than printed here. The San Bernardino rental’s rent enters the qualification as the agencies permit, there is no rescission period, and the cash-out version lives in the investment property cash-out guide.
How long does a refinance take?
Long enough for the appraisal and the review on a conventional file, shorter on a streamline or an IRRRL with no appraisal, plus the rescission period on a home the borrower lives in. Lendmire does not quote closing speed; it gives written terms first and a realistic calendar second.
Can I refinance an adjustable-rate mortgage into a fixed rate?
The move from adjustable to fixed is allowed on the conventional route and on both government streamlines, and it is the refinance whose value is measured in risk removed rather than dollars saved each month. The costs still apply, and the break-even is judged against the reset avoided.
Does my state treat a refinance differently?
The program rules are national; the state adds conditions only in particular cases, usually around homestead protections or the refinance of an existing home-equity loan, and the state-level guide says where that applies. For most San Bernardino owners a rate-and-term refinance is an ordinary file.
A San Bernardino mortgage, rewritten on current terms.
The review costs nothing and decides most files: whether the saving recovers the costs, whether a shorter term serves better, whether the existing loan points to the streamline, the IRRRL, the conventional route, or the jumbo lanes. Ask for it before applying anywhere.
This guide covers San Bernardino — for the statewide guidelines, markets, and scenarios, see Refinance in California, part of Lendmire’s refinance program.
Nearby markets in California: Rialto · Colton · Highland · Redlands · Fontana · Jurupa Valley · Riverside · Rancho Cucamonga
Related programs: Cash-Out Refinance · Conventional Loans · HELOC