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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.
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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.
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