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Pre-qualifying for a California home loan program refinancing
Pre-qualifying with Coastal La Jolla Funding for a California home loan program refinancing is easy, fast and getting started is just a click away. For a free consultation from one of our licensed professional loan officers choose the type of loan you are looking for information on or click here to schedule a no-obligation consultation over the phone.
Two Main Areas for a California home loan program refinancing
Refinancing an existing California real estate loan. Why refinance? The lower the rate, the less it
costs you for the money that you borrow. As a general rule, if the interest rate is two points lower than
what you are currently paying, it's time to refinance. However, something to consider is the length of time
that you plan to own your residence. You want to be certain that the cost to refinance will be recovered
over the remaining term of the loan; that is, not the number of years left on your current California home loan program refinancing ,
but the remaining number of years you intend to own the property.
Although your monthly savings on your new real estate loan may be substantial, you will incur some closing costs. Typically you can
count on up to 2-3% of the new California loan amount in closing fees in addition to title insurance. Your lender will
estimate your closing costs for you. To justify refinancing, your closing costs must be recovered over the life of the new real estate
loan. By dividing the closing cost by the number of months you plan to own your home and add the result to the new monthly principal
and interest payment you will determine if you "break even". If the resulting amount is less than your current mortgage payment,
it is time to refinance.
You may also consider taking "cash-out" to payoff other debts or to invest. In this case you will need to determine that the cost to refinance is worthwhile in order to payoff those debts or invest in other markets. Consider not only the closing costs associated with refinancing, but the points you will pay for a lower rate and funds associated with paying off your existing loan.
Ask one of our real estate loan consultants to compare your expenses for various loan programs. In most cases you will be eligible
for differing California loan programs so be sure to consider all of your options.
California Jumbo Loan:
The second main type of California home loan program refinancing is a jumbo loan. This type of loan does not conform to the guidelines established by Fannie Mae or Freddie Mac or exceeds the conventional loan limit is called a Jumbo mortgage loan. These loan amounts can go up to ten million dollars. Loan to value limits for Jumbo loans range from 50% to 95% depending on the loan amount.
Currently $333,700 - $10,000,000
1. California Jumbo Fixed Rate - Fixed rate mortgage in a variety of terms up to $10,000,000 loan amount.
2. California Jumbo Six Month Treasury ARM - Six month adjustable rate mortgage that adjusts semi-annually afterward for loan amounts to $10,000,000.
3. California Jumbo One Year Treasury ARM - One year adjustable rate mortgage that adjusts annually for loan amounts to $3,000,000.
4. California Jumbo 3/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $10,000,000 that has a fixed rate for the first three years and adjusts annually afterward.
5. California Jumbo 5/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $10,000,000 that has a fixed rate for the first five years and adjusts annually afterward.
6. California Jumbo 7/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $10,000,000 that has a fixed rate for the first seven years and adjusts annually afterward.
Ask one of our loan consultants to compare your expenses for various loan programs. In most cases you will be eligible for differing loan programs so be sure to consider all of your options.
Real Estate Loan rates in California
LOAN-TO-VALUE
Residential Properties and Refis: Up to 100% financing available
Commercial Properties: Up to 75% financing available
TERMS:
Flexible loan term up to several years or more
CALIFORNIA HARD MONEY LOAN TO VALUE:
Loan amounts can be up to 50-75% of the market value of the collateral, based on the estimated cash sale price given a 90-120 day marketing time. If the loan is used for renovation or construction, the loan amount can be based on the improved value, and would be disbursed in stages.
LOAN SIZE FOR REAL ESTATE IN CALIFORNIA:
From $250,OOO to $20 Million
COLLATERAL:
Real estate and other fixed or liquid assets are typically need to qualify for a California home loan program refinancing .
Fast Turnaround and Great Service for California Real Estate Loans
Coastal La
Jolla Funding provides real estate loans in California that are uniquely
tailored to fit the specific needs of our clients.
Best of all, we works quickly and efficiently, often
providing secured California real estate loans in
the time it takes most brokers just to call back.
For our California real estate loans, Coastal La Jolla Funding normally lends
50% - 100% for residential properties.
Repayment on a California home loan program refinancing
Repayment on a California home loan program refinancing normally runs up to 20 years,
although this will certainly differ based on loan specifics. Interest
rates on our standard California home loan is variable and program refinancing rates
are quoted either at a discount or premium to our base lending rate. The
discounts and premiums primarily depend on your financials and collateral.
For more information on our California home loan refinancing, you may reach us at:
office phone: (858) 456-2423
office fax: (858) 225-3683
For a printable version of our real este loan in California page, click on our California home loan program refinancing Print
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