Home Loans California & Arizona

How to Lower my Home Mortgage Interest Rate in California?

January 24th, 2015 8:56 AM by Nathan Rufty

How can you Lower your overall Mortgage Payment on your Home here in California?


Now that the interest rates have dropped here in California it is time for you to explore your refinance options to lower your mortgage rate and overall monthly payment. 

The process to refinance a home is not a difficult one especially if you
arelooking to streamlines an existing FHA, VA, Conventional or USDA home loan. Working with the right lender and an experience Mortgage Professional will make all the difference on how your loan process will go with your refinance here in California.

With the cost of saving on 
your monthly payment will make gathering the paperwork a lot more enjoyable. You do not want to prolong this process because if rates should raise (which are predicted to increase by summer, depends which economist you listen to) you will lose out on chance to lower you mortgage rate and payment.

There are home loan programs like FHA that does not require income or an appraisal on your home, known as the FHA Streamline Refinance Home Loan Program. This will save you time and paperwork to obtain as while as the cost of the appraisal and our underwriting fee are waived. This is an existing FHA to FHA loan.

VA also has an easy refinance program known as an IRRRL (Interest Rate Reduction Refinance Loan) that also does not require an abundance of paperwork or an appraisal. This is a VA loan to a VA loan.

USDA-RD welcomes a refinance on their books also without an appraisal inspection report on the subject property. This is a existing USDA to USDA program.

HARP program also offers a refinance that may not require an appraisal to lower your payment and interest here in California. This program offers a high loan to value without forcing you to have mortgage insurance.  This is a Fannie Mae to Fannie Mae and Freddie Mac to Freddie Mac refinance.

All these refinance programs offer very little to no cost to move forward with a refinance. It does not hurt yo speak with myself to explore your home loan options to refinance your existing loan into a lower rate. I welcome the opportunity to present you with numbers for you to review and see if refinancing your existing home loan makes sense. Take the first step and contact me at 909-503-5600 or click HERE to complete a short inquiry form to get started right away. 


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