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Doing a California Refinance Online
Californians are passionate people. I know. I have lived in
California my whole life: From the smoggy basins of Los Angeles,
to, well, the smoggy basins of Sacramento. I've traveled highway
101, I've smelled the glory of the Redwoods, and I've experienced
the confusion of the Terminator becoming governor. Without
turning into a pop-song, I've done it all California-style, and
that even includes, moving through the exciting process of doing
a California Refinance Online!
Okay, so it's not exactly as poetic or as exciting as I'm
making it out to be, but a California Refinance conducted online
does not make you a bad Californian. It makes you a smart
consumer, and if it's important for you to keep your business
local, then there's no need to shy away from your monitor. You
can still do it all in your pajamas.
In the next few moments, I'm going to cover some basics to
ease your worries and calm your nerves about using the internet
to gain access to local money.
1. You are in Total Control.
2. Some Important Online Information
3. Keeping it Local!
4. Start Broad, And then Narrow Your Search.
1. You are in Total Control.
a) Chances are, you will be filling out a short 30 second form
online in the very near future, and in return, you will be
receiving 3 to 4 immediate offers from brokers and lenders vying
for your business.
b) But that doesn't mean that you must receive offers from
banks located at the top of the Space Needle or beneath the
catacombs of the Grand Canyon.
c) The majority of the loan search services available online
provide you with the option to request loan offers from several
brokers specific to your area. You don't need to reach far and
wide to get a good deal.
d) This means that you can rest easy. When it's time to
complete the online short-form application, just make sure the
query asks you if you'd like to narrow your search.
2. Some Important Online Information
a) Ask if your prospective mortgage broker and/or lender are
licensed under the CMLA, the California Mortgage Lending Act of
1994. http://www.corp.ca.gov/pub/mb.htm
b) Check out their complaint history with the Better Business
Bureau online. http://www.bbb.org/
c) Ask if they are a member of the CMBA, the California
Mortgage Bankers Association http://www.cmba.com/
d) Do you qualify for Affordable Housing? If so, make sure
your lender can broker a loan that will meet your needs. Here is
the current Interest Rate Schedule:
http://www.calhfa.ca.gov/homeownership/rates/index.htm
e) Research the current California Mortgage Refinance Rates
online. We offer a free, daily rate-watch at our site, but
interest rate information is everywhere.
3. Keeping It Local
a) Doing a California Refinance from your neighborhood bank or
local broker, is probably a very good idea.
b) One important reason is that they know the terrain, and
they know what things are like in your home town or State.
c) Every region has a different set of variables and
demographics that determine its respective health or struggles,
as it pertains to mortgage rates.
d) If your preference is to do your refinance with local
information and personable service, then I say go with your
instincts.
4. Start Broad, Then Narrow Your Search
a) Start with a broad query using the Internet, and then
narrow your search.
b) There are too many banks and brokers in your area, for you
to call on the phone, or take a day to drive by each office for a
personal visit.
c) Use the internet as a resource. Start wisely. Conduct a
broad California Refinance loan search, via the methods discussed
above, and then zero in on the folks down the street.
d) If you are not making decisions based on wise, savvy
shopping tactics, then in the end, you could wind up spending
more money through higher rates, or higher fees, all in the good
name of convenience.
e) You can still go local in the end. Those are the parameters
that you get to choose when conducting a search. But don't start
there.
The internet is a powerful tool, for your California Refinance
needs. Don't ignore it. Use it, and use it to your full financial
advantage.
We've enjoyed providing this information to you, and we wish
you the best of luck in your pursuits. Remember to always seek
out good advice from those you trust, and never turn your back on
your own common sense.
Publisher's Directions: This article may be freely distributed
so long as the copyright, author's information, disclaimer, and
an active link (where possible) are included.
Disclaimer: Statements and opinions expressed in the articles,
reviews and other materials herein are those of the authors.
While every care has been taken in the compilation of this
information and every attempt made to present up-to-date and
accurate information, we cannot guarantee that inaccuracies will
not occur. The author will not be held responsible for any claim,
loss, damage or inconvenience caused as a result of any
information within these pages or any information accessed
through this site.
Copyright 2005, by Loans-Resource.Com.
This article is available in full format at: California
Refinance; Tom Levine provides a solid, common sense approach
to solving problems and answering questions relating to consumer
loan products.
 MORE RESOURCES updated Thu. February / 09 / 2012
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New HARP Could Help Up to 6.7 MillionNASDAQOther changes to the program were designed to make it easier for homeowners with private mortgage insurance (PMI) to refinance or to obtain a HARP mortgage refinance with a lender other than their current mortgage servicer. In addition, new limits were ...and more » |
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