It's a GREAT time
to Refinance!

In response to the stock market drops

in the last 2 weeks, the Fed has lowered rates 

considerably!

 

Click the link below to see what rates

are available for you.

It's a GREAT time
to Refinance!

In response to the stock market dropsin the last 2 weeks, the Fed has lowered rates considerably!

 

Click the link below to see what rates are available for you.

What is Refinancing?

Refinancing is when you take your current mortgage and get another loan to replace it. People refinance their mortgage to get a lower interest rate or monthly payment, get a shorter or longer term, among many other reasons.

 

For example: Let’s say you have a mortgage loan with a $200,000 balance. You speak to a lender and find out you can get a lower interest rate by refinancing your home loan. You will apply for the new loan, and if approved it will pay off the old loan. You’re left with a new mortgage with the same $200,000 balance with the lower rate.

Top Reasons to Refinance

  • Get a lower interest rate

 

  • Refinancing out of an ARM into a fixed-rate

 

  • Change the mortgage term (30-year into a 15-year)

 

  • Lower monthly mortgage payment

 

  • Make home improvements or repairs

 

  • Remove mortgage insurance

How To Refinance

Refinancing a loan typically requires as much time and paperwork as getting a new mortgage on a home.

 

 

Pinpoint what You Want to Accomplish

 

 

People have different goals when it comes to refinancing their home loan. Are you looking to use your equity to get cash, lower your rate, or just get a lower monthly payment.

Types of Refinancing

  • Rate and Term Refinance – Is a traditional refinance that will lower the interest rate and reset the loan term.

 

  • Cash-Out – When a borrower has equity they can refinance their home for 80% of the property value and keep the difference in cash

 

  • Home Equity and HELOC – A second mortgage on the home using the equity in the home as collateral for a new loan

 

  • FHA Streamline – A quicker loan requiring less paperwork allowing borrowers to get better terms on an FHA loan

To start the process

Still Have Questions?

Give us a call at 619-LOW-RATE (7283) or fill out this form and one of our

Cal Coast Funding Loan Officers will be happy to assist!

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