There are Several Reasons You May Want to Refinance…
You may be looking to get cash out to eliminate debt, make home improvements, purchase a second home or pay college tuition. Many of our clients save hundreds of dollars every month by consolidating high-interest credit cards and auto loan payments. Don’t want to pay off credit card balances over 30 years, no problem, ask about our accelerated payment schedules.
Everyone loves to save money. Find out in minutes if we can refinance your current mortgage and reduce your payment, save you interest or shorten your loan term.
You may find it necessary to remove a co-borrower or spouse from a mortgage, this is common with divorce. Give us a call, we’ll simplify the process.
You might be looking to get cash out to invest in a rental home or help the kids buy a home. We’ve been helping real estate investors for more than 30 years; we’re happy to guide you through the process.
As a direct lender with hundreds of loan programs, we’re confident we’ll find you a competitive rate.
Calculate your Mortgage Payments
The math behind our mortgage calculator is complicated, but calculating your payment is easy. Enter the mortgage rate you expect to pay in the Interest rate box, it’s okay to guess at this point. Property taxes in Los Angeles and Ventura County are typically 1.20% to 1.25% of the purchase price. Homeowner’s insurance is typically .225% to .25% of the purchase price but high fire or flood areas may cost more. If you purchase a home in a Homeowners association you will have to add HOA fees.
When your satisfied with your selections hit the “Calculate” button.
A mortgage calculator can help you estimate your monthly payment, but it’s no substitute for consultation with one of our experienced loan officers.
Additional Factors to Consider…
- There are tax considerations as mortgage interest is typically tax deductible (Consult your tax professional).
- Down payments of 20% or more generally avoid the added cost of mortgage insurance (PMI), but not in all cases. Generally the less you put down the higher the rate and you’ll need to add the cost of mortgage insurance. That said, there are hundreds of mortgage program options to help you avoid mortgage insurance.
- 30 yr. mortgages are typical, and a shorter terms (20 yrs. or 15 yrs.) will typically come with a lower rate, which will save you interest over the loan term. But shorter term loan programs will raise your monthly payment and could make qualifying more difficult.
- FHA, VA and other Government insured loan programs have their own specific terms, costs and conditions.
- The mortgage calculator can’t help you find your limit of qualifying. You will need to discuss with one of our friendly loan officers.