California Mortgage Refinancing Application Considerations

2007-03-08 10:33:40

( Financial )



In California mortgage refinancing is available to you if you need it. There are various mortgage loans California financing companies are offering to mortgage borrowers.

When you want to refinance California mortgage, lenders like California Mortgage Company will ask you to give details about your current situation and ask you to prepare the application requirements. To speed up the approval process, here are some things to consider.

California mortgage refinancing will involve closing costs. These costs must be recouped from any savings you expect to realize from refinancing California mortgages. Be prepared to pay closing costs when the loan you applied for is about to be disbursed.

In processing your application for a mortgage Stockton bankers and lenders San Diego will charge closing costs, like mortgage lenders all over California. Closing costs include loan points and fees for title search, property appraisal and legal services.

Remember that loan points are actually prepaid interest and are tax deductible. One point is equivalent to one percentage point on the loan amount. The more points you pay up front when applying for California mortgage refinancing, the lower your interest rate will be.

You should prepare your documents to support your California mortgage refinancing application. You should have copies of two years W-2 and one month of pay slips ready; if you’re self-employed provide a profit and loss statement for the current year and two years income tax returns.

Also have proofs of cash assets you may have, like bank statements over three months for each bank, stock certificates, and stock brokerage and mutual fund accounts.

Once you have submitted your application, you should not move money into your bank account unless it can be traced. You should also refrain from doing anything that increases your debts. These may delay evaluation of your application.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.