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.
Latest News
 CNBC | A Rush Into Refinancing as Mortgage Rates Fall New York Times, United States - Mortgage rates immediately dropped, and that led to a surge in mortgage refinancing activity for the week — even with the Thanksgiving holiday. ... Mortgage Refinance Applications Soar As Rates Fall Homeowners' Refinancing Jumps by Record Pace Treasury mulls plan to lower mortgage rates to 4.5% |
 Yahoo | US MBA’s Mortgage Applications More Than Doubled Last Week Bloomberg - The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan jumped 112 percent to 857.7, the highest level since March, ... FINANCIAL STOCKS Bulls outlast bears in Wednesday grudge match Falling rates spark rush to mortgage applications UPDATE 1-US mortgage applications post largest gain ever |
Lower mortgage rates help but jobs, prices key Reuters - Applications to buy and refinance homes hurtled higher last week as the lowest rates since the summer of 2005 unleashed pent-up demand. ... |
Bally Total Fitness files for bankruptcy again San Francisco Chronicle, USA - Refinance volume more than tripled, while purchase volume increased 38 percent. Refinances accounted for 69.1 percent of applications, up from 49.3 percent. ... Thanksgiving week saw rise in mortgage activity |
 Boston Globe | Geithner May Seek to Push Bair Out After Clashes During Crisis Bloomberg - ... that contributed to the subprime mortgage mess. This year, Bair has proposed using taxpayer funds to help refinance loans for struggling homeowners. ... Mortgage proposal has faced conflict |
US Economy: Service Companies Shrink at Record Pace (Update1) Bloomberg - “Things overall still look bad, but this, together with last week’s doubling in MBA refinancing, provide glimmers of hope,” Ian Morris, chief US economist ... |
UPDATE: Builders Soar On Lower Rates, But Pain Persists CNNMoney.com - As consumers raced to lock in lower rates, applications to refinance existing loans jumped 203.3% last week from the week before, while mortgage ... "Good" news on housing |
Mortgage Brokers: Now Is Good Time To Refinance MyNC.com, NC - By Lauren Hills, NBC17, 14 hours, 38 minutes ago While most money matters aren't looking up right now, if you're looking to refinance your home, mortgage ... |
Fresh Data Is Sour Forbes, NY - 28, from the previous week's 404.4 reading, according to the Mortgage Bankers Association's survey. Refinance volume more than tripled, accounting for 69.1% ... |
Fed’s Kroszner Says Foreclosures Harming Middle-Income Areas Bloomberg - ... the highest on record as home prices dropped and stricter mortgage standards made it harder for homeowners to sell or refinance, RealtyTrac Inc. said. ... |
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