No-cost refi with balance below $250k in CA

[Kenneth Burdick]

Hey there, so we owe about $215k on our primary residence in Southern Cal. Currently on a 15-year mortgage at 2.875%. I never thought I'd ever refinance, but now I hear commercials where they're advertising 30 years at 2%! We tried calling a couple places to see if we could do a no-closing cost refinance and get our rate down another half a point or more, but no luck - they all said our balance is too low. Does this sound right? Or does anyone know of companies who would do this?