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California_Refinance_Mortgage_Loans___Comparing_Loan_Quotes

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California Refinance Mortgage Loans – Comparing Loan Quotes


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Summary:
California real estate prices have jumped so much in recent years that refinancing mortgages has increased
potential savings. With higher equity ratios, you can cash out part of your equity at favorable rates. But
don’t limit your lender search just to in-state lenders. Look to online financing companies to give you the
best deal on a refi.


Tap Into Increased California Home Values


With California’s hot housing market, home equity has shot up for most homeowners. Higher...



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California mortgage loan



Article Body:
California real estate prices have jumped so much in recent years that refinancing mortgages has increased
potential savings. With higher equity ratios, you can cash out part of your equity at favorable rates. But
don’t limit your lender search just to in-state lenders. Look to online financing companies to give you the
best deal on a refi.


Tap Into Increased California Home Values


With California’s hot housing market, home equity has shot up for most homeowners. Higher equity ratio
makes refinancing easier. With a large equity base, lenders are more likely to offer low rates.


That means you can consolidate your high interest debt, renovate your home, or finance a college education
at a reasonable price. And in most cases you can use the mortgage interest as a tax deduction.


Don’t Just Look At In-State Lenders


Financing companies based across the nation are competing to get your refinancing business. Offering lower
rates online than in their regular offices, you can’t afford not to shop online for a lender.


Online lenders will give you free loan quotes that you can compare with other offers. As long as you don’t
give a lender permission to access your credit report while requesting quotes, it won’t affect your credit
score.


What To Look For In A Mortgage Lender


Great rates are the first thing people look for in a lender, but you want to be careful about fees. 3% is
average for closing fees, so watch out for anything higher. You can also use the APR to evaluate loans and
find which is truly the lowest costing loan.


A good lender will also give you prompt service. With most lenders you can ask questions any hour over the
phone, email, or instant messenger. They are also prompt in mailing out information and contracts.


Once you are ready to commit to a lender, the process will take about two weeks. Most of the application is
completed online with only the most basic information needed. Then the contract is mailed out the next day.
Funds are often dispersed in less than two weeks directly to your checking account.




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