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Mortgage Refinance Rates in Arden-Arcade, CA

Arden-Arcade Mortgage Rates: Time to Refinance?

Interested in refinancing your Arden-Arcade mortgage? There are a number of reasons you may want to consider a mortgage refinance loan. Refinancing your Arden-Arcade, CA home loan could make sense for a number of different reasons. Some of those reasons include:

Cash-Out Refinance : Over time many Arden-Arcade homeowners have been able to build up substantial equity in their California home. That home equity can be taken advantage of in a few ways. One way is a cash-out refinance of your Arden-Arcade mortgage. The cash-out refi allows you to refinance your first mortgage with a loan greater than the mortgages current balance but less than the property’s value. The difference is yours as a lump sum cash payment that can be used for any purpose. Many Arden-Arcade homeowners take this opportunity to pay down high interest rate debt such as a credit card, fund a child’s college education or even pay off a car loan.

Lock in a Low Fixed Rate : Is your current Arden-Arcade mortgage rate adjustable? If rates have fallen since you took out your last loan, now could be a great time to lock in a low fixed rate. Working with a quality Arden-Arcade lender to help you refinance from an adjustable rate mortgage to a fixed rate mortgage can allow you to remove the interest rate risk you have with the ARM. Speak with a qualified Arden-Arcade mortgage lender and see if the time is right to lock in your mortgage rate.

Lower Interest Rate : Have you improved your credit score? Maybe your income has increased? Finally debt free after paying off those credit cards? Refinancing your Arden-Arcade mortgage now could enable you to qualify for a lower interest rate. Refinancing your Arden-Arcade home loan into a lower rate could enable you to save on your monthly mortgage payment or even enable you to pay off your mortgage loan faster.

Shorten the Length of Mortgage : You may have started out with a 30 or even 40 year mortgage. However, a significant decrease in Arden-Arcade mortgage rates can enable you to refinance into a shorter loan without much of an increase in monthly mortgage payments. Paying off your Arden-Arcade home loan faster with a lower rate will save you over the life of the loan on interest savings alone.

Removing PMI (Private Mortgage Insurance) : Were you unable to come up with a 20% down payment when you purchase your home in Arden-Arcade, CA? If so you probably had to pay PMI on your mortgage. With enough appreciation in home value you may be able to refinance your Arden-Arcade mortgage and remove the PMI.

Finding a great Arden-Arcade mortgage rate is important no matter what your reason for wanting a new loan or needing to refinance. Getting the best loan possible may take some time but it is time well spent. Now is the perfect time to take a moment to find the best Arden-Arcade mortgage rates in your area. Don’t be one of the 92,186 Arden-Arcade residence who settle for a high mortgage interest rate simply because that don’t take a few minute to see if they could save on their home loan.

Credit Score too Low to Refinance?

If you have suffered a financial hard ship and find yourself with less than perfect credit, you may find it difficult to get approval for a loan from a Arden-Arcade lender. If you are not sure you will qualify for a mortgage or have been denied by a mortgage lender recently, take a moment to speak with a FICO® Certified Coach at Own The Key. Not only will they help you fix your finances enabling you to quickly qualify for a mortgage, but if you finance your mortgage with an approved Arden-Arcade mortgage lender from their network you can receive a lender paid credit of up to $650 at the time of funding.

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