Kings CA Lowest Mortgage Rates

Today's low Refinance Rates in Kings CA

We shall cover some common questions that Kings CA Mortgage borrowers often ask in the article:

Kings CA mortgage borrowers looking for lowest mortgage rates in California will find the article helpful.

Some Kings CA borrowers feel that their scores are not so good so they may not qualify for low mortgage rates. Well it’s not the case.

If you have a conventional loan. These loans are sensitive to your credit scores. So if you have a low score you will get a high rate. Some of you would be wondering what is a conventional loan. A simple way to understand is that if the loan is not a special category loan then it’s a conventional loan. The technical explanation would be if the mortgage was underwritten and backed by Fannie Mae and Freddie Mac then it s a conventional loan.

What does it mean if the loan is backed by Fannie Mae or Freddie Mac. Well a simple explanation is. If you as a mortgage borrower were to sell me something. I do not have much confidence in buying fro you but if the government agencies like Fannie Mae or Freddie Mae backs your product. I feel comfortable because I know it has a government backing.

That is what it means when mortgage experts say its Fannie Mae backed mortgage.

So if you don’t have excellent credit scores. You should look at doing an FHA mortgage. In case of FHA which is also a special class of government backed mortgage. It does not take into account credit scores. So it’s not score sensitive. What i mean is that if someone has 740 score and he is qualifying for 3.5% fixed for 30 years and your credit score is 660 you too would qualify for 3.5% fixed for 30 years but in a FHA product NOT conventional.

So having low scores doesn’t mean you have to lose your heart or you have run out of options. Another advantage of doing an FHA loan is that the next time you refinance. You don’t have to pay for appraisal. Your income and asset will not be scrutinised like it was scrutinised the first time you took an FHA mortgage. Kings CA Lowest Mortgage Rates

In 2008 when we had the mortgage crash and property prices had dipped. Those who had an FHA mortgage were able to refinance without any hassle as FHA never required the borrowers to go ahead with a new appraisal. So a borrower with a mortgage balance of $ 400,000 and property value of $ 200,000 was able to refinance without any difficult at all like any other borrower.

These are some of the advantages of having an FHA loan.

Call Kings CA mortgage expert below to get you the lowest mortgage rate on your refinance.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.

CURRENT REFINANCE RATES MONTEREY CA  

Product                              Rate                          Change

30 year fixed                      3.63%                         0.02

15 year fixed                      2.99%                         0.07

5/1 ARM                              3.07%                         0.14 

Artical by Roger Shanker

Bakersfield CA Compare Local Lenders For Mortgage Rates Today

Today's Mortgage Rates California Bakersfield

Affordable payment can help you shop through a variety of lenders, banks, mortgage brokers and providing you custom rates without any of these banks, lenders, brokers. You do not have to give out your personal information to any of these brokers or lenders. Get qualified for the lowest mortgage and right program and excellent support from Affordable payment.

In this Article we shall focus on answering some common queries of Bakersfield CA mortgage borrowers:

How to Refinance with Bad Credit for Bakersfield CA Mortgage Borrower

Can i Refinance with Bad Credit

If your credit is poor the below tips would help you in refinancing:

Most importantly the first thing before you apply for refinancing is to have a copy of your credit report. All three credit bureaus by law are supposed to give you one free copy of the credit every year, So you can call Equifax Experian or Trans union and ask a copy of your Credit report.

Once you get a copy of your report. Any erroneous item you see in there. Call the bureau and have them remove it. Remember if you do not have a hard copy of what you are refuting. Don’t waste your time. It will never be removed.

Make sure you pay all your bills on time. 

Do not apply for several new credits at the same time. It reflects distress.

Make sure you are not maxed out on your credit card limits.

If you can’t control spending habits. Go for secured credit card. With these card you won’t be able to spend any more than what you already have in there.

Have assets on hand. Having liquid asset shows the lender that you do have the ability to repay.

If your own score is not good. See if you can have a co signor on the mortgage. Please note. The co signor is equally responsible for your mortgage just as much as you. 

Call Bakersfield CA mortgage expert below to get you the lowest mortgage rate on your refinance.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.

30 yr fixed refi              3.807% APR                 3.775%Rate | At 0 pts

20 yr fixed refi              3.500%APR                  3.500% Rate | At 0 pts

15 yr fixed refi              3.044%APR                  3.000% Rate | At 0 pts

10 yr fixed refi              2.940%APR                  2.875% Rate | At 0 pts

Artical by Roger Shanker

Kern CA Lowest Mortgage Rates

Today's mortgage Rates Kern CA

We shall cover some common questions that Kern CA Mortgage borrowers often ask in the article:

Kern CA mortgage borrowers looking for lowest mortgage rates in California will find the article helpful.

Interest rate is one of the tools available to the mortgage borrowers to reduce house payment. When you talk to a Kern CA mortgage expert. He will first try to understand your financial situation and your financial obligations. That is because your mortgage expert is there to help you with your finances and truthfully since the mortgage borrowers have no other way to express their financial need. They only ask the mortgage expert. 

What is the lowest mortgage rate Kerm CA that you can offer me? Let’s take an example. During the conversation the mortgage expert asks the mortgage borrower. Well it’s been 5 years for you in the house. Your kids are now grown up and they would be in college soon. Do you still see yourself living in this house for next 5 years or do you think you would move out. Most of the times the answer is either we don’t know or sometimes it is. Well my wife doesn’t like to be in this home so we would be moving out but when is something hard to say.

Well in those cases.  Your Kern CA mortgage expert would say. You have excellent scores. Why go for 30 years fixed mortgage because 30 years fixed mortgage is called the psychological barrier by banks. As banks know that it’s the mindset of the borrowers that even if they would refinance or move out of the house in 10 years but they would still ask for 30 years fixed mortgage because it offers them a sense of security that mortgage payment are fixed for next 30 years.

Your mortgage expert might say, look. You go with a 30 years and its .5% higher as compared to 10 years which is .5% less. You don’t  know when you would move out of the house but you know for sure that you will one day. In 10 years time you and your wife and kids would know the answer. Its a matter of choice because .5% less on mortgage saves X amount of dollars every month.

So what you see here is that when it comes to borrowers the obvious question is “what rate can you offer me and I’ll see if I should be working with you?” however the mortgage expert never offers you a rate he offers you a product and savings that suits your need looking at your planning and resources and rate is a mere manifestation of many of the wants of the mortgage borrower.  

Since the borrower has no other means to express himself. He always says what rate can you offer me but when you talk to a mortgage expert. It’s an entirely different ball game as he is offering you what you truly need.

Call Kern CA mortgage expert below to get you the lowest mortgage rate on your refinance.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.

CURRENT REFINANCE RATES MONTEREY CA  

Product                               Rate                         Change

30 year fixed                      3.63%                         0.02

15 year fixed                      2.99%                         0.07

5/1 ARM                              3.07%                         0.14 

Artical by Roger Shanker

Jumbo Loan in San Francisco California

Easier to Obtain Jumbo Loan in San Francisco-California

Normal loan size is typically $ 424k and as long as your loan balance is in this bracket you are considered to be underwritten by government agency guidelines like Fannie Mae and Freddie Mac. Now this loan size is not stoned. The agencies understand that California is a high cost area and some of the counties are really high cost area. So one standard cannot be applied to all counties throughout the state. 

So each county has a specific loan amount limit specified to be considered or underwritten by Fannie Mae or Freddie Mac guidelines. If that threshold is exceeded it becomes or what is called a Jumbo loan. 

The loan limit is county specific and not city specific. So what happens when you hear the word Jumbo. Well nothing to be taken aback. Agency loans are loans underwritten by Fannie Mae or Freddie Mac guidelines. When you don’t have a government agency backing your mortgage. Jumbo Loan in San Francisco California

Here the banks Niche, products and the standards come into play. Its wise to talk to a mortgage broker if you have a jumbo loan because he can bring many choices on the table as he is connected to several banks and lenders. Not only in terms of mortgage product choices but also in terms of which banks underwriting process is easier.

Since jumbo has no backing of government agency. It becomes each to its own, meaning every bank will have their own rules. Which is why I suggest that San Francisco mortgage borrowers looking for lowest rate jumbo loan California should be discussing with a broker instead of a bank or lender.

Your mortgage expert assessing your file would figure out looking at your need whether to go with a lender who has a slightly higher rate but won’t ask a million questions or to go with a lender who has the lowest mortgage rate but would be asking a million questions which could delay the closing due to more paper work needed.

As far as income details are concerned. Typically banks or lenders would require two years of income details. Mostly in my experience borrowers who have jumbo loans like to manage their mortgage instead of paying off the mortgage. 

If you have a million dollar loan and 2 million dollar value, borrowers like these prefer to manage instead of paying off the mortgage. They know they have good equity in the house and it will keep building up in times to come.

Especially with big homes it’s also been seen that some banks like to send out two different appraisers from two different appraisal companies. Borrowers should not feel surprised to pay for appraisal twice.Jumbo Loan California

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower or If Texas Mortgage Borrower call 713-463-5181 EXT 154. 

Artical by Roger Shanker

INYO CA.Compare Local Lenders For Mortgage Rates Today

Today's low Refinance Rates in Inyo CA

Affordable payment can help you shop through a variety of lenders, banks, mortgage brokers and providing you custom rates without any of these banks, lenders, brokers. You do not have to give out your personal information to any of these brokers or lenders. Get qualified for the lowest mortgage and right program and excellent support from Affordable payment.

In this Article we shall focus on answering some common queries of Inyo CA mortgage borrowers:

Refinancing Mortgage with Bad Credit

Can i Refinance with Bad Credit, read for Inyo CA Mortgage borrower:

When the rates are historically low. Whether you have good or bad credit everyone is now looking at refinancing. The rates you see advertised wouldn’t make a lot of sense for someone with a bad credit score because those rates are available to a borrower with a high cost if you have a bad credit.

Primarily refinancing goal is to lower the rate of interest from your current lender to a new lender with some monthly savings.

How does my credit history impact my refinancing?

Let’s understand the concept of credit reporting and credit score. The credit score is a numerical expression of items being reported on your credit report on a scale of 350 to 850 where 850 is the excellent and the more the score are towards 350 its bad.

Credit scores are derived statistically through weights assigned to the borrower’s credit profile as below:

Your past payment history carries a weight of 35%

Amount you owe 30%

Length of time you have owed credit 15%

New credit established 10%

Type of credit 10%

Now you understand that the maximum weight age is given to your past payment history and total debt. So the ones who owe too much and are not paying on time they are likely to have a bad score and the lender shall look upon the borrower as a high risk borrower.

So a borrower with 740 plus score is likely to get a rate of 3.5% while someone with a lower score is likely to get a percentage or two higher for the risk of the mortgage and lenders make a lot of money on his risk loan.

This however doesn’t mean that the doors are closed. While a conventional loan may either be difficult due to bad scores. You need to look towards FHA which is a Govt insured mortgage.

Call Inyo CA mortgage expert below to get you the lowest mortgage rate on your refinance.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.

30 yr fixed refi              3.807% APR                 3.775%Rate | At 0 pts

20 yr fixed refi              3.500%APR                  3.500% Rate | At 0 pts

15 yr fixed refi              3.044%APR                  3.000% Rate | At 0 pts

10 yr fixed refi              2.940%APR                  2.875% Rate | At 0 pts

Artical by Roger Shanker

Inyo CA Lowest Mortgage Rates

Fixed Rate Mortgages are Available Inyo CA

We shall cover some common questions that Inyo CA Mortgage borrowers often ask in the article:

The Benefits of FHA Mortgage

In 1930 when we had the great depression. Banks were foreclosing upon properties and reckless bankruptcy filling were being made back then. The Government realised that some sort of protection to the borrower and banks has to be provided in order that a stable home mortgage system can be designed. Hence FHA was worked out as a solution.

FHA mortgage is essentially backed by Federal Housing Administration which basically guarantees the lender or the bank that in the event borrower makes a default on his payment. FHA will make the bank good with the sum loaned on mortgage.

Hence banks and lenders find it easy to provide Inyo CA mortgage on easy terms to the borrowers. Whether you are buying a home or refinancing as an existing FHA mortgage holder.

What that means is, like all individuals we go and buy a life insurance policy that basically acts as a hedge against any calamity on life that may happen and protects our family. The same way when you take an FHA mortgage.  You have to buy FHA Mortgage Insurance upfront from FHA for your mortgage. 

Call Inyo CA mortgage expert below to get you the lowest mortgage rate on your refinance.

This mortgage insurance has two components.  one is called UPFRONT MORTGAGE INSURANCE which is 1.75% of your Base mortgage amount that you are borrowing. The other is called MONTHLY MORTGAGE INSURANCE which is a smaller percentage based on the appraised value, loan term and mortgage balance. This is paid monthly to FHA like any other insurance premium.

Both the upfront and monthly mortgage insurance premium is tax deductible. The monthly mortgage insurance for almost any loan term or product type the borrower goes for would be for life. Typically in case of other mortgage like conventional mortgage. The moment you carry mortgage balance which is equal to 80% of the appraised value of the home in current market. Mortgage insurance can be waived but that is generally not the case with FHA.

Call Inyo CA mortgage expert below to get you the lowest mortgage rate on your refinance.

The advantage to the Inyo CA borrower is that he gets a lower rate than any other mortgage type. The underwriting is not as tough or scrutinised because its already backed by FHA and borrower is taking an Insurance policy over and above the mortgage. It comes with a very low down payment option of only 3.5%. Not only that, once you do get enrolled for an FHA and the next time you refinance. You are not required to pay for another appraisal. This is called STREAM LINE refinancing. Your income and credit scores and not scrutinised as much either. STREAMLINE essentially means that you already are in FHA bucket and from FHA bucket you are moving to the same FHA bucket to get some monthly savings.

Another advantage is that once you take FHA paying UPMIP of 1.75% of the base loan amount. The next time you refinance. That does not mean you pay again 1.75% of the loan amount. The last UPMIP that you paid is adjusted with the new 1.75%. Borrower does not get a cash back of UPMIP but its adjusted with the new loan and its its new UPMIP as a rule with some conditions.

Call Inyo CA mortgage expert below to get you the lowest mortgage rate on your refinance.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.

CURRENT REFINANCE RATES MONTEREY CA  

Product                              Rate                         Change

30 year fixed                      3.63%                         0.02

15 year fixed                      2.99%                         0.07 

5/1 ARM                              3.07%                         0.14

Artical by Roger Shanker

How Late Mortgage Payments in Inglewood California

Mortgage Refinance Late on Mortgage Inglewood California

California mortgage Inglewood borrowers are refinancing their home all the time and the loan closing date can be any day of the given month. California mortgage lenders -Banks cannot keep track of mortgage payments based on when the individual borrower’s mortgage got closed to assign a payment cycle on mortgage.

Hence no matter when you close the loan. Your mortgage payment cycle begins on the 1st of every month. So if you closed your mortgage on 10th or 11th or 12th or 20th of September. Your mortgage payment is due November the 1st and onwards beginning the 1st of every consecutive month.

Sometimes California Inglewood mortgage borrower may be travelling or may have some assignment to finish and as a result he is unable to make his payments on the 1st of any given month. That does not allow the banks or lenders to report a late on your credit report. California mortgage Banks allow 15 days of grace period to make the mortgage payments. What that means is that as long as the California mortgage borrower makes the payment and the California mortgage bank receive the payment before the 15th or the grace period allowed by the bank. 

You are not reported late. Being reported late on your credit report is devastating. Your California mortgage expert will inform you that if you got behind on your mortgage even once in the current year then you are not eligible to refinance as per today’s market guidelines.

If you are current on your mortgage and you were behind 2 years back. You are eligible for a refinance. 

There are several products available for such borrowers to choose from. FHA being one of them. Should there be a financial distress. You can borrow money from home and pay off the debts and still qualify for a lower rate when it comes to FHA.

As far as conventional mortgage go. They are credit score sensitive. FHA is not credit score sensitive. The reason why i suggest you should look into FHA is because if you were late in your mortgage. Its likely your credit score is now down to 660 something. 

California Inglewood mortgage borrower with a 740 plus score would qualify for 3.5% on conventional mortgage and a California mortgage borrower who goes for an FHA with a credit score of 660 would likely qualify for the same 3.5% as FHA is not credit score sensitive.

There are several other ways of managing finances. Your California mortgage expert would be your best guide to get your lowest mortgage rate.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower or If Texas Mortgage Borrower call 713-463-5181 EXT 154.

Artical by Roger Shanker

Mortgage Refinance Inglewood California

Inglewood California Mortgages

There are many models that have come up now a days to help mortgage borrowers with their refinance. At the end of the day the mortgage borrower is looking for someone to trust with his finances and an expert in the field of mortgage willing to help the borrower to get him his monthly savings.

While refinancing mortgage in Inglewood borrower has to compare his cost involved in refinancing and his savings and whether its making financial sense to ahead with the process.

The industry and its rules keep changing keeping in the need of the borrowers. A mortgage expert is just the right person to talk to who is aware of what is happening in the market and how best mortgage borrowers can be helped.

There are several government programs announced that the borrowers may not be aware and constantly evolving mortgage products that keep coming up and a borrower’s individual research may not be that helpful.

These experts are connected to several banks and lending companies and brokers and hence their scope of choices is very broad.

One of the advantages of dealing with such experts is that every mortgage borrower’s financial situation and mortgage situation is unique. That requires a custom made product for the mortgage borrowers.

Every bank has standard product but only an expert knows which lenders or banks have a niche or an appetite for a specific kind of mortgage and where exactly you need to be routed to for your mortgage situation.

These experts write articles blogs and books. The approach to connect to the client has changed. An informative article helps the mortgage expert to gain trust of the borrowers and borrowers prefer to discuss their mortgage with someone who understands their situation and challenges.

Your Inglewood Mortgage expert would be the best guide to get you the lowest possible rate and with highest of mortgage savings for you to pursue.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower or If Texas Mortgage Borrower call 713-463-5181 EXT 154 

Artical by Roger Shanker

IMPERIAL CA.Compare Local Lenders For Mortgage Rates Today

Best Mortgage Refinance Provider Near IMPERIAL CA

Affordable payment can help you shop through a variety of lenders, banks, mortgage brokers and providing you custom rates without any of these banks, lenders, brokers. You do not have to give out your personal information to any of these brokers or lenders. Get qualified for the lowest mortgage and right program and excellent support from Affordable payment.

In this Article we shall focus on answering some common queries of Imperial CA mortgage borrowers:

What is an FHA Loan, read for Imperial CA mortgage borrower?

 FHA stands for Federal Housing Administration. FHA is a Government body. Back in 1930 there were reckless foreclosures and bankruptcy filed. To save the housing market and the borrowers. The government laid the foundation for FHA loan to help mortgage borrowers and lenders.

Why people get FHA Loan, read for Imperial CA mortgage borrower?

FHA is liked by First Time Home Buyers a lot. It allows the mortgage borrower to put just 3.5% down payment,. This down payment can be out of borrowers own funds or can even be accepted as Gift from a family member.

A credit score of 580 is enough to qualify the borrower for purchase or refinance. There is no special requirement from a borrower to get an FHA loan. Anyone can apply for FHA loan.

FHA Mortgage Insurance premium

There are two parts to Mortgage insurance in case of FHA Loan. FHA insures the bank or the lender to qualify the mortgage as per FHA guideline and should the borrower default. FHA shall make the bank good of its money as such banks and lenders are comfortable lending money on FHA mortgage.

However a borrower has to take a sort of insurance policy and pay premium on it for life for mortgage. 

One is Upfront Mortgage Insurance premium and the other is monthly mortgage insurance premium that is paid by the borrower along with the monthly mortgage payment.

Upfront mortgage insurance is paid once by the borrower while monthly is a recurring payment each month for the life of mortgage.

Call Imperial CA mortgage expert below to get you the lowest mortgage rate on your refinance.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.

30 yr fixed refi              3.807% APR                 3.775%Rate | At 0 pts

20 yr fixed refi              3.500%APR                  3.500% Rate | At 0 pts

15 yr fixed refi              3.044%APR                  3.000% Rate | At 0 pts

10 yr fixed refi              2.940%APR                  2.875% Rate | At 0 pts

Artical by Roger Shanker

Imperial CA Lowest Mortgage Rates

Today's low Mortgage Rates in Imperial CA

We shall cover some common questions that Imperial CA Mortgage borrowers often ask in the article:

Will my property tax change if I refinance?

Imperial CA mortgage borrowers when refinancing often ask this question. If the Property gets appraised for higher value, will that mean that my property tax will change. 

Tax is assessed by the state and its trend generally has been inclining so it wouldn’t remain the same. 

Well it’s not the case. The state and the county have their own method of assessing property taxes which has nothing to do with a higher appraised value. Based on the expenses and budgeting of the state and for the county really what matters as to what the property tax would be in the years to come.

Call Imperial CA expert below to get you the lowest mortgage rate on your refinance.

Is cash out refinance taxed?

Cash out refinance occurs when a Imperial CA borrower borrows money out of the equity built in the home. In other words. I have a house worth $ 600,000 and my current mortgage is $ 300,000 and I need cash out, be it any purpose for an amount of $ 100,000 . 

This cash out amount of $ 100,000 is coming out of your home which is an asset. It cannot be considered as your source of income because property is an asset. Whether the property is rental property or Owner occupied home. 

So there is no income. Hence it will not be taxed.

Call Imperial CA expert below to get you the lowest mortgage rate on your refinance.

Mortgage Insurance is Tax Deductible

Imperial CA Borrowers end up paying mortgage insurance for various reasons. Perhaps they paid less than 20% as a down payment which attracted mortgage insurance. If they have an FHA Loan. Mortgage insurance is mandatory.

This mortgage insurance you pay each month is tax deductible. This however requires that you fall in certain income limit category based on whether you file your taxes jointly or individually.

Call Imperial CA mortgage expert below to get you the lowest mortgage rate on your refinance.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.

CURRENT REFINANCE RATES MONTEREY CA  

Product                              Rate                         Change

30 year fixed                      3.63%                         0.02

15 year fixed                      2.99%                         0.07 

5/1 ARM                              3.07%                         0.14

Artical by Roger Shanker