15-Year Fixed Mortgage Refinance Interest Rates in Los Angeles, CA

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Showing results for: 15-Year Fixed refinance offers for Single Family or Townhome properties in CA, total loan amount of $228,000.

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Should I Refinance from 30-Year to 15-Year in Los Angeles?

In Los Angeles's hot market with 9.1% appreciation, refinancing to a 15-year term accelerates both forced and natural equity building. On a $390,240 loan, switching from 30-year at 7% to 15-year at 6.5% increases your payment from $2,596 to $3,399/month-a $803 increase. However, you'll save $323k in interest over the loan's life and build equity twice as fast. Combined with Los Angeles's rapid appreciation, this strategy maximizes wealth building for homeowners who can afford higher payments.

How Much More Will My Payments Be with a 15-Year Refi in Los Angeles?

Refinancing $390,240 from 30-year (7%) to 15-year (6.5%) increases your principal and interest payment by $803/month. Including Los Angeles's $309/month property tax at 0.76%, your total PITI jumps from approximately $3,055 to $3,858. Can you afford the increase? If your Los Angeles home appreciated from $487,800 to $560,970, refinancing to 15-year builds equity even faster, compounding with market growth.

How Fast Will I Build Equity with a 15-Year Refi in Los Angeles?

Dramatically faster than 30-year loans. In the first year of a 15-year mortgage at 6.5%, approximately $21,463 of your $3,399 monthly payment goes to principal -versus only $7,805 monthly on a 30-year. Add Los Angeles's 9.1% appreciation ($44,390/year on median homes), and your total equity grows $301,948 in year one. By year 5: over $1,510k in combined equity.

What Are 15-Year Refinance Closing Costs in Los Angeles?

Expect $7,805-$11,707 (2-3% of loan amount) for 15-year refinancing in Los Angeles. On a $390,240 loan, that's approximately $9,756. While the monthly payment increase is $803, you're not "losing" that money-it goes to principal, building equity. The true benefit: $323k interest savings over the loan's life. With Los Angeles's hot market appreciation, you're building wealth on two fronts: accelerated paydown + market gains.