mortgage california lenders - mortgage brokers - rates - home loans
" Refinance - Home Improvement - Home Equity
- Debt Consolidation - Purchases "
Helping home owners and buyers throughout california with
Fannie Mae - Freddie Mac - FHA -VA - Conventional - Jumbo Loans
We can help you even if you have had credit problems or have a special situation. Take advantage of the recent drop in california mortgage rates and let us save you money.
Today's National Average Rates. california mortgage rate may be somewhat lower.
Use our secure online application or print an application to fax to us
Mortgage Refinancing - Should You Refinance
The risk involved in refinancing your current mortgage is nearly non-existent. If you think you'll save money by refinancing, now is a good time to act. Thousands of california home owners are refinancing their home loans and saving money today. Look at some of the benefits of refinancing today.
Refinancing your home loans can allow you to take advantage of these benefits
- Lower interest rates resulting in lower monthly payments
- Consolidate high interest rate debt, 2nd liens, home improvement and/or swimming pool loans or credit card balances into one lower interest rate mortgage and better terms and tax deductible interest costs
- Make Home Improvements and make your home a better place to live.
- Get Cash Out to spend as you wish. Use it for vacations, tuition, starting a business.
- Shorten your term to Build Equity Faster.
- Trade your ARM in for a fixed rate loan and lock in long term savings.
- Current appraised value - not purchase price is used to calculate LTV ratios. (if you have owned the property for over 6 months) You may be able to avoid PMI costs.
- Pay off balloon payments or call provisions on your current loan.
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Should You Take Advantage of a Home Equity Loan?
A Home Equity Loan can allow you to take advantage of these benefits
- Lower interest rates resulting in lower monthly payments
- Consolidate high interest rate, 2nd mortgage, home improvement and/or swimming pool loans or credit card balances into one lower interest rate mortgage and better terms and tax deductible interest costs
- Make Home Improvements and make your home a better place to live.
- Get Cash Out to spend as you wish. Use it for vacations, tuition, starting a business.
- Current appraised value - not purchase price is used to calculate LTV ratios. (if you have owned the property for over 6 months) You may be able to get more cash out or get a lower rate.
- You may qualify for a 125% equity loan or title 1 home improvement loan.
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Contract for Deed, Owner Financed & Lease Purchase Buyers
- Peace of mind knowing the property is really yours now
- Deed and Note in your name, not the Sellers.
- The freedom to improve your home as you desire.
- Reduces your risk of losing property and accrued equity.
Reduces your interest rate and monthly payment in many cases. Current appraised value - not purchase price is used to calculate LTV ratios. (if you have owned the property for over 6 months) You may be able to
avoid PMI costs.
- Interest on your new mortgage can be tax deductible.
- Property tax you have been paying can be tax deductible.
- Pay off balloon payments
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Refinancing and getting cash out
Homestead law's have changed and now allow homeowners to take advantage of their home equity by refinancing your existing home to put their cash equity to use. You can take this equity and spend it on whatever you choose: children's education; paying off debts; your dream vacation; a new boat or a new car.
Most states now allow loans up to 125% of your homes appraised value. 125 loans have tighter underwriting guidelines than loans up to 100% of property value.
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Refinancing Mortgages with Special Situations
Some of the special situations we help with include
- Estate settlements
- Divorce settlements
- Foreclosure avoidance (requires equity of 25%)
- Paying california and federal tax liens
- Paying judgments
- Paying off collection accounts
- Paying off bankruptcies (chapter 13 plans require trustee approval and a good pay history)
- Paying off consumer credit counseling service repayment plans
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There may be substantial california and federal income tax advantages. The interest paid on loans secured by real property is deductible, as long as the
loan balance or combination of loan balances does not exceed the value of the property. Please get professional tax advice.
Refinancing with cash out may seem like found money, remember that it will have to be repaid like any other loan.
Your property is being used as collateral and is at risk if you fail to make your loan repayment.
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