Community Bank of San Joaquin California Refinance Mortgage Rates – Fixed 30 ... Subprime Blogger (blog)
With this in mind it may be a very wise choice to do extensive research and understand what options are available. By using the FDIC search tool individuals can grind down and find the exact bank that they need in their specific area. It may be a good decision to contact several local and regional lenders before making the final choice.As we get closer to the fall of 2011 will be very interesting to see how the 10 year treasury rate yield continues to react to the overall market. At the present time we are seeing the 10 year yield very close to historic lows which in turn has pushed 30 year fixed mortgage rates lower.
Since 1971 the 10 year treasury rate yield in the 30 year fixed mortgage have had a very strong correlation. This will likely continue well into the future as the Federal Reserve Bank is stated that they are going to take every necessary step to keep interest rates at attractive levels. With this in mind it might be beneficial to start research sooner rather than later.
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California interest mortgage rate refinance and hard money
www.lendinguniverse.com California interest mortgage rate refinance and hard money, interest calculator and cheap fixed mortgage against mortgage ...
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
What is the most current interest rate to refinance my house in California?
I have a mortgage rate of 6.85%. should I refinance now or will interest rates go down more after the president signs the new bill to help mortgage companies?
To give you a definitive answer would require more information about what type of loan you have now (fixed or adjustable), how much your home is worth, how much you still owe, etc. Suffice it to say, if that 6.85% is for a fixed, 30 year, it will probably not be worth refinancing now or in the near future.
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.
Should I wait until next year to refinance my mortgage? I am buying a single family home in California?
I am skeptical of refinancing this year since the rates are up from last year. I am hopiing the rates will go down instead of up next year. Should I wait?
depends on what kind of a mortgage you got. If its an ARM GET OUT OF IT NOW! The rates are slowly dropping and many expect a nice drop next year also check to see if there are any penalties for refi and some will even make you pay for an apprasial before hand (don't do it)
Let me offer you some advice as a loan officer based in California: the market here is definitely cooling off, but that doesn't mean that it's necessarily a bad time to buy. If you're able to negotiate well with a seller (and this may be the perfect time for that) you could get a good deal. Remember that it's you that has the upper hand in the current market.
Rates are a tricky situation. There has been a bit of a dip of late, and I've been doing many loans for people in the area because of this fact. However, I don't personally see the point in "waiting for rates to drop" as much as most people. If you have good credit you can get a rate below 7% these days. Historically that's a spectacular rate. Unfortunately we're all tainted by our recent memories of folks getting 4%.
It's honestly never been a "bad time" to own a house if you plan to stay a minimum of 5 to 7 years. If you have any questions that I didn't answer, send me an email through my profile.
Beyond that it's a gamble. If you can tolerate the risk you might do well to wait until late Winter/early Spring to refi. At this point in time, I would not recommend waiting beyond early 2007. If the break even analysis shows that you will recover your costs in 2-3 years then do it now or early in the first quarter of 2007.
Here is a link to a daily rate lock advisory posted by a mortgage broker that I have used twice in the past.
http://www.interbankmortgage.com/DailyRateLockAdvisory
I have no financial connection to him, and only provide the link because it is useful information and I was happy with his service.
As it was said before, waiting for rates to drop is really not the way to go.... you never know what might happen that could send the rates through the roof and you will look back on this time and think to yourself, "I should have refinanced then!".
If you have any other questions, or need assistance, please contact me via my website http://www.slarson.com/contact or email me directly at Steve@SLarson.com
I don't qualify for a refinance, my rate is adjusting up. Can anybody help me? or should i just foreclose?
My home is in california and I am currently upside down on it. The rate on my 1st mortgage is due to adjust soon. I don't qualify for a refinance because i've been late a few times. Should i just stop making payments on the home? My rate is adjusting to around 9% next month. If the home was a little more affordable I could manage but this is currently not the case. Are there any option other than refinancing? Please help.
The single most important way to determine whether you have been the victim of Predatory Lending, Truth In Lending Violations, RESPA, or mortgage fraud or deception is through the use of a Forensic Loan Audit. To effectively perform a compliance audit, you must be part detective and part mind-reader. A single residential real estate file can be covered by numerous consumer protection laws and regulations - Reg. B (ECOA), Reg. C (HMDA), Reg. Z (TILA), Fair Housing Act, and Flood Disaster Protection Act for starters. The applicability of any law depends on various factors that may, or may not, be evident in the loan file.
Get in touch with a calfornia real estate attorney that specializes in loan modification and litigation. Have a loan auditor analyze your last refinancing and see if any violations were made in your last refinance or purchase transaction. (90% of the time something was done illegally)
I can help you if you'd like. Shoot me an e-mail or give me a call. We review your loan documents (the papers you signed when you applied for the loan and the papers you signed when you closed the loan). We investigate whether the information and calculations provided in those documents was accurate, truthful, and met the requirements of the applicable federal and state statutes.
BEWARE! alot of people are jumping or have got into the business of loan modification to make a quick buck that are not licensed attorneys with the state. Most of them are the ones that put you in the situation you are in to begin with! Make sure you are speaking with a qualified firm that will look out for your best interests. Take it from me, DO NOT go for the cheapest deal. Your home and the foreclosure process is a serious matter.
Typical violations I have found in loan auditing include the following: RESPA VIOLATIONS, TIL ACT INCORRECTIONS, FORGERY, MISLEADING DISCLOSURES, EXCESSIVE OR INACCURATE ADJUSTMENTS, OVER STATED VALUES, GFE COMPLIANCE, EXCESSIVE POINTS AND FEE'S, USUARY VIOLATIONS, REVERSE ENGINEERING, PREDATORY LENDING.
We determine whether there were predatory lending violations of federal law which give rise to the right to rescind or cancel. If you are successful in rescinding the loan, you may be entitled to receive back all of the interest paid on the loan, all of the points and fees paid to get the loan, all fees paid by you to the lender in connection with the loan, and statutory penalties. This allows you to get a new loan with a smaller principle, meaning that your mortgage can be affordable.
TIME IS OF THE ESSANCE. GET HELP SOON.
Call me today: 310-736-6054
Leave a message if i don't pick up. Thank You.
So here are some options:
1) Talk to your bank. See if they'll freeze your interest rate. Even if only for a year or so.
2) If you have decent credit see if you can get an outside loan to pay the difference between what you owe and what the bank will lend. If you must come to the table to refinance--this might be worth it. Find an ethical mortgage broker who will reduce his/her fee to enable you to close your new loan w/o bring a lot to closing.
Be very careful about foreclosure.
Best of luck to you,
http://www.mylendingplace.com
Is it possible to refinance 1st & 2nd mortgages for a brand new house immediately after I close?
I am required to use my builder's mortgage company b/c they are giving me incentives but the rates are 0.5% higher than other lendes on both the 1st and 2nd mortgages.
I am wondering if I would be able to refinance both mortgages immediately after I close? What do I need to consider? What questions do I need to ask?
Sale Price: $960k
New House in California
Interest Rates for 1st/2nd mortgages: 6.75%/8.675%
Excellent FICO scores - high 700s to low 800s
6.75% is average for 30 years fix loan.
8.675 is high of course, but you don't have down payment, lender wants high rates to compensate.
It is hard to find another lender to give you better rate.
I would stay away from adjustable loans or interests-only, because housing market continues to slump. Adjustable loan is "toxic", which means if rates go up while housing price stays, you will in bad spot.
As for interests-only, mortgage payment consists of two parts: interests and principal. Interests are like rent, which doesn't add to the equity to your house. It simply disappear as your pay it. If you want to use interests only loans, might as well rent, especially during market downturn, because housing price won't appreciate.
Would you consider delaying your plan? As housing market continues to slump, it might save you 10% simply by waiting for a few months. Another way to look at it, you can increase profit by 10% when you are ready to sell it.
http://money.cnn.com/2006/09/08/real_estate/caught_in_the_bubble/index.htm?postversion=2006090814
http://money.cnn.com/2006/09/05/real_estate/Ofheo_home_prices/index.htm?postversion=2006090514
If you want to go ahead with your plan, threaten to back out, they probably will give you incentives without asking you to use their lender.
Good luck!
Would you consider dela
I'm in the office from 9am-7pm every day. Just remember that we are three hours ahead of you. I can do it for you. Hope to hear from you. here is our website www.equityconsultants.com
Thanks
rob
Regards,
Steve Larson
.5% can add up to quite a bit for such a high price home.
it would be best to shop around.
try http://www.savingslife.com
for some basic info, you can get a few different perspectives from local lenders.
You absolutely can refinance immediately after you close, but you have to use the right lender..
Mos tlenders out ther erequire that you live in the house for at least 6 months prior to doing a refinance transaction... Others require a full 12 months...
I work with Providential Bancorp, a company that has well over 50 inve3stors we have partnered with to have a home for all borrowers in need...
I have plenty of investors that DO NOT require "seasoning"(being in house for 6-12 months)
These investors WILL allow you to refinance in order to get the mortgage rates down...
With your credit scores, you should easily be able to qualify for lower rates then what you have been given, and i think it makes complete sense to do the refinance...
Mortgage companies will be willing to lower your rate in order to get your business...
What you need to BE 100% SURE OF is that you DON NOT have a pre payment penalty...
You also NEED to work with a lender that has LOW closing costs...
You do not want to use a brokerage firm.. Brokers need to charge costs in order to make a profit from a loan...
My company is a bank, and correspondent lendER... We do not rely on origination fee's, or broker fee's in order to make proifit...
Being we are partnered with many investors, we are paid by our partners to simply add another loan to their portfolio... Our philosiphy is that we know there are hundreds of mortgage companies out there... In order to get your business, we need to give you the lowest rates, and lowest fee's...
Being we dont get paid base don how much fee's we charge, we are sure to offer you the lowest closing cost loan possible...
Its easy for any mortgage company to say this, but let the numbers speak for themselves... If you would like to know more, i would be happy to present you with a Goof Faith Estimate, and you yourself can see exactly what you qualify for, and what it costs in order to get it...
I look forward to speaking with you!
Jason Fry
Licensed Mortgaeg Banker
Providential Bancorp
jasonf@providential.com
312-264-6448
1-800-264-7283 ext. 448
However it doesn't hurt to inquire about a refinance. Find out what the new rates and payments could be and compare them to your current situation. If you can recoup the out of pocket closing costs with the monthly savings within 2-3 years then it is worth it. Outside of that you need to ask yourself how long you will have either the house or the current loans because if you plan on selling of refinancing within the next 3-4 years then stay with the current situation you would be spending additional money that you wouldn't need to.
I was tricked and lied to by a loan officer and his company in California, where can I file a complaint?
I worked with a loan officer from a mortgage/loan company in California to refinance my house, I was presented with a good faith estimate that showed a low interest rate with no prepayment penalties, and at closing the interest rate was higher with prepayment penalties. I called the loan officer who said to go ahead and sign the documents because he will fix the problem. I was on a deadline to close so I had to sign, and after I signed the loan officer and his company stopped answering my phone calls. I made a complaint with the BBB but nothing got resolved, is there anybody else I can make a complaint with that will persuade this company to remove the prepayment penalties? Please let me know. Thanks
You ran through two red lights at the doc signing and after.
You should never sign anything that is not what you were promised. You should have known that once a contract is signed it can not be changed unless both parties agree and the lender was not going to agree and the loan officer did not represent the lender because he does not work for the lender.
Then in California as well as other states you have a three day right of recission. That mean that even after you sign the loan docs you have 3 days (72 hours) and you can still cancel the loan for no reason what so ever. This had to be pointed out to you because most lenders have it in 14pt print and you were given a copy by who ever was your doc signer.
All you had to do was sign the cancellation documents given you and you could have faxed them to four different places. One to the closing escrow officer, the title company, the lender and the mortgage broker that negotiated the loan for you.
A good faith estimate does not tell you about pre-payment penalities.
You may complain, when you filled out the application you were given several documents. One has a address and telephone number where you can call and make a complaint.
CAMB is not that place because you don't have to be a member of CAMB and if your mortgage broker is not a member there is really nothng CAMB can do.
There are 2 different license in California that can do home mortgages. One is a Department of Real Estate ran by the Department of Real Estate, and the other is a California Finance Lenders license and is governed by the California Department of Corporation.
So if you know which license your mortgage broker is a member then you can make a complaint with them.
The complaint will be an after thought because now the mortgage broker is no longer in the picture and no matter who you complain to the fact that you signed the loan docs make it a legal contract.
All loans have pre-payment penalties that apply when you refinance your house. If you sell your property most pre-pays don't apply as they are called soft pre-pays. You will probably not refinance in the next 3-4 years when the prepay will no longer matter.
Now about the interest rate. This is a tax deductable item. No matter how high or low the interest rate is it is tax deductable. So you will get that back. Check with your tax preparer for all tax advise.
I hope this has been of some use to you, good luck.
"FIGHT ON"
http://www.ss.ca.gov/business/business.htm - If the company is in a different name or you want to verify the address.
Hope these help
Adjustable rate coming up on my mortgage.80/20 loan?
I live in southern California, I currently have an 80/20 loan and the 80% is going to adjust. I'am in the process of refinancing but it isn't looking too good for me, I have about 20,000 in equity according to a recent home appraisal but I'am still having problems getting a loan. The payments will go up around $700.00 when it adjusts and it will be almost impossible to pay. Should I contact my Mortgage company now and see if they can work with me and if so what is the likely hood that they will work with me? I would like to avoid a short sell or obviously foreclosure. What are some of my other options? I have fair credit and good income. Beneficial is the company the loan is through.
Contact your mortgage company NOW and explained the stitition today and see if they can help you or refi your home.
You also think about refi into FHA loan if your loan amount is low.
Re-Fi: Pay points or look into 2 mortgages to bring rate down?
Currently we looking to refinance our 30 year mortgage down to below 5%. I live in california where the conforming rates are a bit different. We can re-finance our $450,000 mortgage for 5%, or pay .75% for a 4.75%. I believe we will live in our home for the entire 30 years, so that makes sense. OR....someone mentioned we can refinance into two loans.
1) Would be a $417,000 bringing the rate down to at least 4.75% or even lower (30 year fixed) plus opening a 2nd loan (HEL or HELOC) for the remainder....$33,000. We would have to try to pay that off quickly, but my guess it would take 5-10 years.
How do i compare those two, to see which is better....right now, we would be looking at paying about $6200 in closing costs/points to get 4.75% which gives us 4 years to break even. I am 99% sure we would be here through that, plus many years later.
Thoughts?
Being in CA, the amt of conforming loans is higher.,... ask your lender about Super conforming loans.. Freddie just started doing them w/ minimal points/fees.
My mortgage = InterestOnly/ARM - Smartest thing to do?
I have 8 years to go on my 10 year interest only period which ends in 2016. However, in 2011, the rates becomes adjustable (2% cap, Annual adjustment). We're planning to be here no longer than about 7 more years anyway, then we plan to sell and leave the state (We're in Southern 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.
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 2011 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. So that's out. And not sure I want to do that anyway given that I don't plan to be in this home 20 years.
Any advice? Suggestions about what the best thing to do would be?
Smart to sit, save what I can and not stress about changing my mortgage?
Or is there something smarter to do?
california in mortgage rate refinance - News
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(FED) Stabilizing the Housing Market: Focus on Communities - Forex Hound (FED) Stabilizing the Housing Market: Focus on Communities However, it also reflects the fact that reduced home equity and tighter mortgage credit have impaired borrowers' ability to refinance their mortgages in |
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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. |
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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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Homeowners refinance at lower mortgage rates - The News-Press Homeowners refinance at lower mortgage rates This new suburban sport was launched by mortgage rates that in recent weeks have fallen to lows not seen in almost four decades. Thirty-year fixed rates are |