This is the first time in a year that I have had to say that mortgage rates are up. This is sad for me but the rates could not stay at record lows forever. I kept telling as many people that I could during the late part of summer 2016 that rates will go up. They started going up right around November 1st and they went up sharply after the election. It is not the end of the world or the start of the dark recession. A person in Rocklin CA can still get a low mortgage rate in case they need to do a cash out refinance. Our property values have risen tremendously since April 2012. I know that the people who thought they did not have enough equity to refinance now have enough equity to refinance. I also know that some people now have enough equity to do a cash out refinance to pay off high interest credit card debt. I just completed two cash out refinances for homeowners that are now saving $800.0 to $900.0 per month in out going bills. They both told me that relieved a lot of stress in their lives. Both of their credit scores went up also.
If you live anywhere in Rocklin or Roseville CA, and you want to see how much money you can save each month then call me.. I attached a video that talks about the real possibility that the federal reserve will raise interest rates thoughout 2017.I do want to mention that I am not a mortgage broker in Rocklin CA.
I thought for sure that mortgage rates would head upwards when the Federal Reserve raised their rate by a quarter percent. Now mortgage rates have been dropping the last month. You would think that I could predict which way rates are heading but I cant. If you have a mortgage interest rate above 4.5%, you should call me at 916-261-2381 so that I can show you how much money you can save every month by refinancing. It is a real great time to refinance in Placer county because our property values have gone up so much the last three years so it makes it much easier to refinance. Please call Gordon at 916-261-2381 to see how much your home is worth and how much money you can save. If rates drop any more in Rocklin, we will be overwhelmed with mortgage applications and you could miss out on the lowest rates of the year.
Mortgage broker in Rocklin with lower rates
I would many people did not realize that the Federal reserve raised their rate by a 1/4% back in December 2015. That was the first time the Fed raised their key lending rate in nine years. A funny thing has happened since the start of 2016, mortgage rates have actually declined about 1/4%. The main reason rates have gone down is because the stock market has come down a lot since January 1st. Many time when the stock market goes down it brings the interest rates down also. That is a economic lesson in itself. The bottom line is that it is a perfect time to refinance if you purchased your home from 2009 to 2012 with a FHA loan. It is a great time for these people because their property values have gone up a lot and now they have a good amount of equity.
It is also a good time to refinance for people who took out loans from 2003 to 2006 who had not had enough equity in the past to refinance. Your property values in the Rocklin and Roseville areas have gone up to a level where you can probably refinance again.
My name is Gordon and I am good at figuring out what your home will appraise for. If you would like to see if your home appraises high enough to refinance and how much money you will save every month, then please call me at 916-261-2381. Last year I told people that they should hurry and refinance because rates are going up. They went up for a few months then peaked and now they have gone down again. Mortgage rates are just like gas prices. They do not stay low forever so if you need cash out of your house or you just want to lower your payments then please get ahold of me.
If you are facing problems in paying out the mortgage loan that you have taken out, then you can certainly opt for mortgage refinancing. The most important advantage of mortgage refinancing is that it replaces the original mortgage loan with a new mortgage which is more affordable to you. The new mortgage loan that is being taken out is secured on the same property as that of the original mortgage loan. There could be a variety of compelling reasons for opting for mortgage refinancing. First of all, mortgage refinancing offers you the chance to save more. Generally, the monthly mortgage payment amount is lowered and it becomes easy to pay off the mortgage loan. The lower monthly mortgage payment amount offers you the chance to save more. Again, refinancing gives you the chance to shorten the length of your mortgage loan by reducing the term of the loan. However, in this case, you actually pay more than the original monthly mortgage amount and become free of debts much earlier. Again, the original mortgage loan may be an adjustable rate mortgage (ARM). If the market rate of interest goes up, the rate on the original mortgage may also go up. In such situation, you may want to switch to the safety of a fixed rate mortgage (FRM). The rate on a FRM is fixed. Anyways, here we discuss about some specific cases when you can opt for refinancing.
Build up equity
If you have built up sufficient equity in your home, then you can opt for refinancing. If your equity in your home is more than 10%, then you can opt for mortgage refinancing.
Check whether the refinance interest rate is low
As a thumb rule, if the rate of interest on mortgage refinance is at least 2% lower than the rate of interest on original mortgage loan, it makes sense to opt for mortgage refinancing.
Anyways, if you do not make any late payment is the past one year, then you have a fair chance to get a mortgage refinance loan. But before opting for a mortgage refinance, make sure that you have the right reason and requirements
If your FHA started after June 2009, you still might be able to refinance since home values have gone up from the time you purchased your homes. You might have enough equity to refinance and eliminate your mortgage insurance payments. You can call Gordon at 916-261-2381 and he can check on your propertys current value. You can also refinance if you took out a conventional loan where you are paying a monthly mortgage insurance premium. All homeowners in the area should contact a mortgage broker in Rocklin to check on their refinance options.
It doesnt cost anything to see if refinancing makes sense for your current situation.
I do want to mention that I am not a licensed mortgage broker in the state of CA.
Homeowners can now lower their interest rate on the FHA Mortgage without getting a new appraisal. That means you do not have to worry about not having enough equity like a normal conventional refinance. The other great news is that if you FHA loan was originated prior to June 2009, you will not have to take out the higher mortgage insurance. The government has raised the monthly FHA mortgage insurance premium a couple of times since 2009. Many homeowners did not refinance last year because even though their interest rate could be lowered the monthly mortgage insurance premium was going to cost more so it did not make sense to refinance. You can keep the same monthly insurance premium now if your loan was originated prior to June 2009.
If you are looking into buying a home, we can help you with locating the best mortgage to fit your needs. We are not a mortgage broker in Rocklin CA. I will show people the average current mortgage rates on this site. I will also show you what underwriters look for when qualifying you for that home loan. This site is just a blog written by Gordon Cuffe a licensed loan officer. NMLS # 1037464. I am writing blog posts about where mortgage rates are heading. How to qualify for a loan. I will also update people on what the average mortgage rate is in Rocklin CA. There are many mortgage companies all over the web but if you need a home loan in the Rocklin CA area, we can meet face to face to talk about your mortgage needs. If you want to receive information about home loans in Rocklin, please enter your email address. Since Roseville is across the street from Rocklin, I can meet with homeowners in that city also. I am NOT a mortgage broker in Rocklin CA. My license is currently held under the broker named https://www.unitedwholesalelending.com/. If you ever have questions about loan rates or qualifying for a home loan, I can be reached at 916-261-2381.