Mortgage Refinance in California
- 5-Star Rated Mortgage Broker
- We Are Professionals You Can Trust
- Get Better Home Loan Rates
- Residential and Commercial Loans
- Office located in Los Angeles, CA
What type of property are you refinancing?
Single Family
Multifamily
Condominium
Townhouse
How will this property be used?
Primary Residence
Vacation Home
Investment Property
Estimate credit score
Excellent 770+
Good 660-719
Avg. 620-659
Below avg. 580-619
Poor <579
How can we help you today?
Home Purchase
Refinance
What type of property are you purchasing?
Single Family
Multifamily
Condominium
Townhouse
Are you a first-time home buyer?
Yes
No
How will this property be used?
Primary Residence
Vacation Home
Investment Property
Estimate credit score
Excellent 770+
Good 660-719
Avg. 620-659
Below avg. 580-619
Poor <579
Final Step
By clicking "Get My Quote" you certify that you read and completely agree with the Privacy Policy
Summary
| Description | Information | Quantity | Price |
|---|---|---|---|
| Discount : | |||
| Total : | |||
Recently Closed Mortgage Scenarios
We will gladly help you with a mortgage refinance in California, which includes but not limited to the most popular regions and cities: Los Angeles, Ventura and Orange Counties, Pasadena, Long Beach, Malibu, Beverly Hills, Burbank, and Santa Monica.
How to Save Money with Mortgage Refinance in California
Refinancing is replacing an existing loan with a new one. Refinancing is a good option for those who want to change loan program from an adjustable-rate to fixed-rate, lower monthly payments, reduce their interest rate or remove private mortgage insurance (PMI).
There is also a possibility to obtain some cash to pay off debts or for renovation projects if you receive a cash-out refinance. Since home values rise, you might have enough equity in your home for this type of refinancing. Get known your refinancing options before making a final decision.
The Best Refi Progams in California
Cash-out Refinance
If you need some extra cash and your house is worth more than you need to pay on an existing mortgage, then you can have a cash-out refinance. You will replace your existing loan with the one that has more favorable terms and receive the difference in cash. Learn more.
Refinance from ARM to Fixed
Lower Your Payments
Pay off Your Loan Faster
If you want to pay off your loan faster the excellent option for you would be refinancing to a shorter loan term. You might have to pay more each month, but in the long run, you will save a lot of money in interest payments because shorter loans generally offer a lower interest rate. Other possibilities are making a big payment at once or paying extra with each of your payments. Learn more.
FHA Streamline Refinance
There are also government refinance loans. The Federal Housing Administration conducts a “streamline” program when homeowners can refinance the loan insured by FHA with less paperwork. Homeowners can refinance up to 125% of the value of their home. Learn more.
Have Questions? Reach us out:
Hours: Monday-Friday 10:00 AM - 5:00 PM
In-Person at LA Office
13317 Ventura Blvd #H, Sherman Oaks, CA 91423
Cell-phone
M-F 10 AM-5 PM (PST)
On-line
E-mail: contact@idmortgagebroker.com
Skype: click to join
Mortgage Refinancing Process
4 Easy Steps to Refinance Your Home Loan in California
Step 1 - Pre-Qualification
Talk to Us to Know Your Options.
Step 2 - Start a Loan Program
We Shop You Choose.
Step 3 - Pre-Approval
Get a Loan Approval on the Terms You Want.
Step 4 - Your Goal Achieved!
Your Goal is Achieved!
Apply for a Home Loan Refinancing Program
The process of refinancing is the same as when applying for the first mortgage. After you have researched your loan options, you need to collect all the necessary documents and submit a mortgage refinancing application.
You can apply and get approved on your terms within a short time. You don’t need to worry about all the details because our experienced specialists will do it for you.
Refinance Your Home Loan in Los Angeles, CA FAQ
What does refinancing a home loan mean, and how does it work?
Refinancing a home loan means taking a new loan to replace your current mortgage, usually receiving superior terms or interest rates. This new loan pays off your existing mortgage, and you start afresh with your payments with the refinanced loan. Common reasons for refinancing include decreased interest rates, changes in loan terms, switching from an ARM to a fixed rate, or accessing home equity.
How can refinancing help me save money on my mortgage?
Refinancing can save money through:
- Lower interest rates: To lower your monthly payments and total interest paid, you should acquire a lower interest rate than what you are currently paying on your existing mortgage.
- Shorter loan term: Refinancing a 30-year mortgage into a 15-year term pays the house sooner and saves money on interest.
- Consolidating debt: Cash-out refinances pay higher-interest debt off with a single low-interest mortgage payment.
When is it a good time to refinance my home in Los Angeles?
Consider refinancing when:
- Interest rates drop: When rates have fallen considerably since your original loan, you could save on monthly payments.
- Improved credit: If you have improved credit, the rates are better than the previous one.
- Adjustable rate adjusts: If you have an ARM approaching its adjustment period, a fixed-rate mortgage can provide stability.
- Life changes: Changes such as increased income, inheritance, or a new job may also be a reason for refinancing to a shorter term.
What costs are associated with refinancing my mortgage?
Refinancing incurs costs similar to a home purchase, including:
- Appraisal fees: To determine the current value of your house in the market.
- Credit check fees: To conduct a verification of creditworthiness.
- Origination fees: For processing your new loan.
- Title services: To ensure clear title ownership.
What credit score is needed to refinance a home loan in Los Angeles?
Most lenders require at least a 620 credit score. Above 700, you will get the best interest rates. Pre-refinancing, you can improve your score by paying down debt or addressing discrepancies on your credit report.
What documents will I need to refinance my mortgage?
Prepare the following documents:
- Income verification: Pay stubs, supported by tax returns or bank statements, showing income sufficient to service the debt.
- Existing mortgage statement: This provides information about the balance of your loan and its terms.
- Homeowner’s insurance: Evidence of adequate coverage.
- Debt and asset information: Credit card balances, loan statements, bank account details.
Can I access my home equity during refinancing?
Yes, a cash-out refinance lets one tap home equity by borrowing more than what they owe on the house. Cashout refinancing disburses the difference between the new loan amount and the current mortgage as cash to the borrower. This can be used for anything, such as financing home improvements, education costs, or debts.
What is the next step if I want to refinance my home in Los Angeles?
If you’re considering refinancing, research current rates and lenders that could give you options. With a mortgage broker, compare various loan programs, look at costs, and be sure refinancing aligns with your financial goals.
OUR BUSINESS LOCATION
FOLLOW US
