15-Year Fixed Mortgage Refinance Interest Rates in San Francisco, CA
Explore 15-year fixed mortgage refinance rates in San Francisco, CA over time.
6.731%6.73%
6.733%6.73%
Timeframe
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in San Francisco, California
Showing results for: 15-Year Fixed refinance offers for Single Family or Townhome properties in CA, total loan amount of $228,000.
| Lender | APR / Rate | Monthly Payment | |
|---|---|---|---|
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
What refinancing looks like in San Francisco at today's rates
The median home in San Francisco costs about $425,000. Refinancing a typical balance of $340,000 (80% of that value) at today's average 15-year fixed rate in California of 6.73% works out to roughly $3,005/month in principal and interest, with $200,920 of total interest over the 15-year term.
Here is how the monthly payment and break-even point change if you wait for (or negotiate) a lower rate, assuming closing costs of $8,500 (2.5% of the loan):
| Rate | Monthly P&I | Monthly savings | Break-even |
|---|---|---|---|
| 6.73% (today) | $3,005 | — | — |
| 6.48% (−0.25%) | $2,958 | $47/mo | 181 months |
| 6.23% (−0.50%) | $2,912 | $93/mo | 92 months |
| 5.98% (−0.75%) | $2,866 | $139/mo | 62 months |
| 5.73% (−1.00%) | $2,820 | $185/mo | 46 months |
Estimates use principal and interest only and today's average California rate; they exclude taxes, insurance, and rate differences from credit score or loan size.
Weighing the term itself? At today's California average 30-year fixed rate of 7.61%, the same $340,000 balance costs $2,403/month over 30 years — $602/month less than the 15-year fixed option, at the cost of $324,325 more interest over the life of the loan.
How Much Interest Can I Save with a 15-Year Refinance in San Francisco?
Substantial savings in San Francisco's stable market. Refinancing $340,000 from 30-year at 7% to 15-year at 6.5% cuts total interest from $474k to $193k-saving $281k over the loan's life. You'll pay more monthly ($700 increase), but every extra dollar goes to principal, not interest. With San Francisco's 0.9% steady appreciation, you'll own your home outright in 15 years with significant equity gains from both paydown and market growth.
Should I Refinance to 15-Year or Stay in 30-Year in San Francisco?
Refinance to 15-year in San Francisco if you can comfortably afford $700/month more. Your total PITI payment (including $269/month property tax at 0.76%) rises from $2,681 to $3,381. Benefits: $281k interest savings, debt-free in 15 years, forced savings plan. Stay in 30-year if: you prefer payment flexibility, invest extra cash at higher returns, or want emergency fund cushion. With San Francisco's 0.9% appreciation, both options build equity.
What's My Break-Even on a 15-Year Refinance in San Francisco?
Break-even analysis differs for 15-year refis. With $8,500 closing costs and $281k total interest savings, you "profit" as long as you keep the loan beyond 5 months. However, the real value isn't monthly cash flow-it 's accelerated equity. In San Francisco, each year of a 15-year mortgage builds approximately $224,400 in principal equity plus $3,825 in market appreciation. You're debt-free 15 years faster.
Can I Afford a 15-Year Refinance in San Francisco?
Calculate your debt-to-income ratio. Lenders prefer DTI below 43% for 15-year mortgages. On San Francisco's $425,000 median home, your $2,962/month P&I plus $269 property tax plus $150 insurance = $3,381total. To qualify comfortably, you'd need household income around $144,900/year (assuming 28% housing ratio). Benefits if you qualify: own home in 15 years, $281k interest savings, rapid equity building in San Francisco's 0.9% appreciation market.
Accelerate Equity with a 15-Year Refinance in San Francisco
Refinancing relies heavily on your Loan-to-Value (LTV) ratio.
When your LTV dips under 80%, refinancing from an FHA loan into a standard Conventional loan is one of the smartest moves you can make to eliminate monthly mortgage insurance.
Property Tax Tip for San Francisco Homeowners
A cash-out refinance is incredibly popular in stable, low-tax-rate markets like this. You can use your built-up equity to pay off high-interest credit cards, rolling that debt into your much lower-interest mortgage.
Hero & Housing Programs for San Francisco
The CalHFA offers great resources right in your backyard. Be sure to ask your lender about state-backed advantages that can lower your effective interest rate or provide ADU grants.
How San Francisco compares across California
Median home prices vary widely across California, which changes what a typical refinance costs. Here is the estimated monthly principal and interest on a median-priced home (80% loan-to-value) at today's average 15-year fixed rate of 6.73%:
| City | Median home price | Est. monthly P&I | vs. San Francisco |
|---|---|---|---|
| San Francisco | $425,000 | $3,005 | — |
| Santa Maria | $434,300 | $3,071 | +$66/mo |
| Riverside | $439,900 | $3,110 | +$105/mo |
| Los Angeles | $487,800 | $3,449 | +$444/mo |
Estimates use each city's median home price with the same statewide average rate; actual quotes vary by lender, credit profile, and loan size.