Month: July 2015

California Refinance Rates For Homeowners

Low Mortgage Rates At JBMCCalifornia Refinance Rates:

Refinance rates are relatively low compared to historical norms. As of January 1st, 2019 30 year fixed rates are between 4.125% – 4.625% (depending on the lender, loan structure and loan program).  Refinance rates continue to be near their recent lows as the bond market improves heading into 2019..  Californians seeking a low home loan rate should contact 2-4 companies and compare which offer is better.  Even if you only want a 30 year fixed rate mortgage you should also see what the company has to offer on a 20 year or 15 year fixed program. You might be surprised and find out that a short term mortgage better suits your financial situation. If you plan on moving in the next 5 years then a 7/1 ARM is a great option – the rate is lower than a 30 year fixed and if you’re moving before the rate adjusts then you avoid any worries about your rate going up.

Zero Cost Loan:

Depending on your current situation you may also want to examine the difference between a zero cost loan and one with costs (and possibly points).  A zero cost loan is not always the best option; sometimes paying some costs to bring down your rate makes a lot of sense – especially if you can make up those costs within the first 12 months.  California refinance rates should continue to be steady going into August ahead of a possible Fed rate hike in September.

“What Are The Current Mortgage Rates?”:Low Mortgage Rates at JBMC

We have an entire section of our website that is devoted to giving our clients current mortgage rate information. Be sure to check back often to see where the market is at and don’t hesitate to ask questions or request a quote. We also update our clients with the current bond market news (important to mortgage rates) and general economic news that may impact mortgage rates.

JB Mortgage Capital, Inc.:

We are a top mortgage company with the Better Business Bureau and the Business Consumers Alliance. We offer industry low mortgage rates, the latest technology to ensure a smooth and efficient closing long with one-on-one personal service. Loan Officer Kevin O’Connor has over 14 years of experience and can help you obtain the best possible mortgage for your next refinance.

Previous Post On Koloans:

As far as a process to determine if now is a good time to refinance; here is how I suggest a homeowner determine if it’s a good time to refinance. When a homeowners consider a refinance they first should A+ Ratingclearly understand their current rate/term before doing anything else. Second; try and locate your previous closing statement to determine if you paid points and if you paid any closing costs. Why is this important? 

Appraisal AVM

Hom Valuations:

What is an appraisal AVM  (Automated Valuation Method)?  An Appraisal AVM is a home valuation service that can provide real estate property valuations using math and public data.  The AVM uses the most recent sales as comparables.  When you refinance your home you may be granted an appraisal waiver.  This is because Home-Kitchenthe AVM model that Fannie (or Freddie) is using agrees with the estimated value listed on the application and there are plenty of exact or very similar comps to support it.  Mortgage loans in which the borrower extracts cash are generally not eligible for an appraisal waiver.

Have Looking Like It’s Ready To Sell:

If you live in an area in which homes have different square footage from house to house as well as lot sizes you also will have difficulty obtaining an appraisal waiver.  If you are doing a refinance in California (or anywhere in the country) then your interest rate is dependent on the value of your home.  If you have to do an appraisal make sure the home looks like it’s ready to “sell”.  Meaning have the property looking it’s best.  An appraiser is more likely to issue a favorable report if he/she knows the homeowners takes care of the property.  A property that is not well maintained along with a home that is dirty or falling apart will generally Low Mortgage Rates At JBMCreceive a lower value.

If you have any questions about an AVM or if you want a quote to refinance your current mortgage or purchase a new home you can contact us directly at 1-800-50-5538.

Current Mortgage Rates:

If you are looking for current mortgage rates we have you covered on our current mortgage rates page. We’ll not only keep you up-to-date with where mortgage rates are at but also cover important bond market information and general economic news that may influence mortgage rates.