American Continental Bank Refinance Mortgage Rates – California Home Loans for ... Subprime Blogger (blog)
As we get closer to the fall of 2011 will be very interesting to see what happens with overall mortgage refinance applications. If the 30 year fixed mortgage continues to drop to levels never seen before and there is little doubt that refinance applications will be submitted quite often as Americans are hoping to save money.With many free resources available online there is no reason to pass up an opportunity to do extensive research and completely understand how the refinance process works. By accessing the HUD website most will find that there are many steps to the process that will allow them to negotiate lower costs and fees which could end up saving a significant amount of money.
It may also be a wise choice to contact several bank lenders to better understand what competitive interest rate offers are available. Unfortunately, many Americans going to the refinance process without feeling as if they need to get competitive rates . This could end up costing them thousands of dollars in the long run.
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Interest rates are down at least one full percentage point just in the last week. If you are on an adjustable and you are lucky enough to still ...
Which company is the best home mortgage lender to refinance with in california?
I am interested in refinancing my current loan to a fixed rate 30-yr loan. I'd prefer to deal with a lender that is in california. any recommendations? i'd like to hear about your personal experience with the company recommended. thanks!
It all depends on your credit score, type of property, length of loan, etc. You just have to shop them to find the best deal.
We have used a mortgage broker in the past. They run your information through a number of lenders and come back with the best deals they can find.
Some will say that brokers make money off your loan. I understand that they do, I still compare the programs to find the best for me. I don;t care what they make as long as it is a good deal to me.
I am a Mortgage banker in TN & KY
My refinance was ultimately done through a local broker here in Southern California. I used a great website to find the broker. The website that I used will eliminate the fees involved in doing a refinance. It's a pretty cool concept. Hope this helps.
Which bank offers the lowest interest rate for mortgage refinance in California?
I need to refinance my second/investment home in Milpitas California and I'm looking for a mortgage broker or a bank that offers lowest interest rate based on 700 or more fico score. Preferably a loan program with minimum monthly payment is preferred.
find the best rate you can find and then add 1% (1 point is what is the standard to add when dealing with an investment home)
A mortgage broker is supposed to find you the best rate from all the companies she works with. If you don't have a good one shop around.
Here is a website to find the average and best rates:
http://www.bankrate.com/brm/default.asp
Is there a temporary relief loan program for California homeowners who have a tough time paying the mortgage?
I heard about the new loan programs that allow home owners to refinance their mortgage to a lower interest, but those who qualify need a decent credit, certain income, and their homes need more equity than what they borrow. But what about those who are really suffering and have none of those above?
Unfortunately then you will join the ranks of those that have or are losing their homes. No credit, no income and no equity means pay for what you signed for. Sorry but not my fault you overextended yourself, buying way more than you could afford. Do not think my tax dollars should bail you out because of your foolish dreams, and not living in reality.
5 yr interest only ARM (100% financing Signed: 9/2006) - West LA - Refinance now?
I have a couple questions.
First, I got a 5 yr interest only loan (80/20 100% financing) in September 2006. I live in El Segundo, California. (Westside of LA) I purchased my home for $740K. Zillow and other 'rough estimate sites' have it currently at $810K. Avg home prices in the area have dropped 5-10%. We think we will be in the home for at least another 3 years. Maybe 4-5 years. Given that, would refinancing to a fixed rate loan right now make sense? Any advice would be great.
Two: In the next 18-24 months we would need to add a bedroom/bath (500 or so sq feet) onto our 2 bedroom/1.5 bath 1400sq ft ranch style home. We have plans drawn up and an estimate of $80K to do the one story add on. Should I wait to refinance until we need to start the remodel? If I take the architect approved plans into the bank, will the bank allow me to refinance for the current value of our home (1400 sq ft) + the estimated value of the addition (500 sq ft).
What's the smartest way to proceed?
Thanks
YES! If you're eligible do it ASAP.
Part two - you're not going to like my answer. I would not put more money in my house until I had money in the bank. If you can re-fi and save $40,000 a year then you can put on that addition. You're neck deep in debt and want to take on more?
That's scares me.
It's much more difficult to get interest only and/or 100% loans right now. Underwriting has tightened up. Not sure you can swing the refi, and probably not the extra addition.
Where can I find financial help for my "green" home?
I'm looking for grants/ subsidies (whatever those are) or low interest loans. Northern California. Off-grid house. Full solar. Adding wind later. 3500 sq ft. 20 acres. Will start small ag business (goats and goat soaps). SIP frame, ICF foundation, reflective wrap, radiant heat/ cool. Trying to show convenient living for modern houses while using latest energy conservation techniques.
I know there's funding out there but I don't know where to look. Construction just completed and current bank's a jerk and ruined our credit and refinance options through excessive late penalties (late on construction deadline, not payments). Ran up credit cards to finish construction and no loan left to pay them off.
Want to demonstrate off-grid living that doesn't involve tiny houses, wood stoves, LED lights, so it can be more mainstream. Don't believe new owners could - still working out kinks in system.
Anyone know any public or private funders for this type of project?
http://www.natresnet.org/
http://www.epa.gov/greenbuilding/tools/funding.htm
My Mortgage/Interest-Only...What's the smartest thing to do?
OK, first a little background...
I have 8 years to go on my 10 year interest-only period which ends in 2016. (Loan details: I put 0 down. I am paying 6.5% and 5.5% on my 80/20 respectively.)
However, in 2011, the rates becomes adjustable (2% cap, Annual adjustment. 5% first adjustment cap). We're not planning to be here more than about 8 more years anyway, then we plan to sell and leave California.
If rates went up 2% or 3%, I could still make the payments comfortably come 2011 because I still won't have principle kicking in.
We live a couple miles from the beach in a good neighborhood that has dropped 10-15% in the past 2 years. I owe almost exactly the same on my home as what I paid for it. (Prices went up a bit after I bought in the area and have come back down in the last 12 months.) We're saving money now to add an additional room/bedroom in early 2010 if the rates are still reasonable and we don't need to use the saved cash to off-set higher payments.
I'm not in a position right now to throw 5%, 10% or 20% into a +$700K jumbo loan to refinance, which is what I'd have to do in this market. And jumbo loan interest rates are much higher than the 6.5% I have now. Not sure I want to do that anyway given that I don't plan to be in this home 10+ more years.
Any advice? Suggestions about what the best thing to do would be?
Smart to sit, save what I can and not stress about refinancing at this point?
Or is there something smarter to do?
As it is right now you owe more on principle than when you took out the loan, and the worth of the home most likely 25-35% less than you paid. Interest only loans are a nice way of saying you want to lose your home. Yes the market will rebound but only at 2-3% per year as it statistically has been. Hope you can afford the payments because without a large capital investment you will not be able to refinance
I'm a Loan Officer in San Diego looking to network with new or exprnc'd Realtor/Agents in California...
My name is Linda Munoz, I am a Loan Office & I am looking to network with new & experienced Realtors/Agents in California. I work with First Capital Lending in San Diego. I work fast, hard & responsibly! If anyone is interested in networking feel free to email me!
I am experienced with Home Loans, First Time Buyers & Refinancing! I work with over 80 lenders in California as well as in Utah. I am also Bilingual- English/Spanish.
email: lmunoz@myfclending.com
Thanks,
Linda Munoz
I wont be starving, I have clientele....just wanna network with new ppl. =o)
If you can't bring in your own clients, prepare to starve.
What kind of loan can I get to pay off a Mobile Home?
My parents own an older mobile home (1972) in California. They owe about $30,000 & their interest rate is at about 11%.
They are unable to refinance to a lower rate because the mobile home is an older mobile home & they technically don't have a mortgage bc it is considered "Personal Property". It is detached from the land & they rent the land in a mobil home park....so they do not own the land.
Is there a certain type of loan they can get to pay off their current loan? They would like to lower their interest rate & monthly payment.
Any advice?
Thanks!
Doubtful anyone would lend money using that as collateral. It was not even manufactured up to HUD standards.
Do i have teh right to claim the interest on the home mortgage?
I recently got divorced in Aug. 2006 (on California) and I agreed to him having the house, I signed off on the house deed to take my name off, he promised verbally to refinance (not in the divorce papers) and has not, he is making all the mortage payments (hopefully on time) however we are BOTH on the loan and BOTH responsible for the payment-do I have the right to claim half of the interest on my income taxes?
No you do not get the deduction as you did not make the payments, with the possible exception of any payments you may have contributed to prior to the divorce becoming final. But you may have a greater issue if your name is still on that loan. You remain liable for that loan. If he were to remarry and get killed you could be making the payments for his new wife to live in their house. That is a worse case situation the more likely thing would involve his making late payments that would reflect on your credit report. I would suggest that you first discuss it with your ex followed by a call to the lender for the home mortgage and your attorney.
Transfer my dad's property into my name (both title & loan)? transfer loan without refinancing?
I live in Los Angeles County, California. I want to transfer the property's title and loan into my name from my father. I am looking to invest with the equity in the home and need to be in control of it as much as possible. Below are the specific questions:
How do I transfer the title into my name in Los Angeles county? What forms do I use? Do we do a quitclaim? What are some of the possible tax ramifications for myself and my father? How can we keep taxes to a very minimum when doing this? What is suggested as the best route?
I need to transfer the loan on the property. It has a low interest rate from a few years back and I would like to keep it like that. I do not want to incur opening and closing costs of taking out a new loan and have to pay a higher interest rate. How can I get the current loan put into my name? If it has to stay in my father's name and were to want to take out a second on the house, would he have to sign on me doing so? What is suggested as the best route?
I believe the transfer of title to you will be viewed by the IRS as a gift in excess of the current of $11,000 per year limit. California income taxes are a potential matter as well. You could end up owing a lot of income taxes. You had better tread slowly on this deal.
california home interest loan refinance - News
US Housing Plan to Fund Interest-Rate Reductions
Boston Globe home prices fell and tighter mortgage standards made it harder for homeowners to sell or refinance, according to RealtyTrac Inc. of Irvine, California, How Banks Are Worsening the Foreclosure Crisis
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California Man Barricades Himself Inside Foreclosed Home - The Consumerist California Man Barricades Himself Inside Foreclosed Home The subsidies are intended to function as an incentive for lenders to refinance troubled loans, but its still unclear if the program will be more effective |
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(FED) Stabilizing the Housing Market: Focus on Communities - Forex Hound (FED) Stabilizing the Housing Market: Focus on Communities Banks can also support efforts to reuse REO properties by providing home loans to new homebuyers and by financing nonprofit entities and others for the |
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Americas Watchdog Endorses American Interbanc As The Best Mortgage ... - PR Web (press release) Americas Watchdog Endorses American Interbanc As The Best Mortgage Typically if not always, American Interbanc has the best interest rates available to homeowners, or consumers wishing to buy, or refinance a home. |
Robert Kuttner and Michael Hudson on the Obama Administration’s ... - Democracy Now
Democracy NowRobert Kuttner and Michael Hudson on the Obama Administration’s That’s what Roosevelt did in the ’30s with the Home Owners’ Loan Corporation, where the government refinanced mortgages directly.
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