What Are Refinance Rates?
Refinance rates are the rates that lenders offer to refinance your existing mortgage. Borrowers normally choose either a rate and term refinance or a cash out refinance. In the rate and term refinance you take out a new loan to pay off the balance of your current mortgage and then pay off that new loan over time, usually 15 or 30 years. This is done when the rate on the new mortgage is lower than your existing mortgage so you can reduce the monthly payments in comparison to your existing mortgage. Instead of paying a down payment, as in a home purchase, you will use the equity in your home in order to meet the lenders loan to value (LTV) guidelines. In the cashout refinance you refinance to a new mortgage to obtain additional cash, normally for personal use. Usually a cashout refinance mortgage has higher points or a slightly higher rate.
Are You Looking for the Best Refinance Rates in California?
If you're looking for the best refinance rates in California then we're here to help.
You can use our site to compare the rates from a wide range of popular lenders for both purchases and refinancing. You can filter by loan type, duration of loan, credit score, and even by state to ensure that you really do find the best refinance rates in California. Additionally you can sort your mortgage lenders results by Annual Percentage Rate (APR) , mortgage rate, monthly mortgage payment, points, lender fees, and type of mortgage.
We provide original, unbiased, user-friendly tools and information for consumers to rely on when making important personal financial decisions relating to mortgages as well as a variety of loans connected to autos, credit cards, personal, home equity loans.
Find your perfect refinance loan today!
When Is the Best Time to Refinance to get a lower rate?
Refinance rates fluctuate, so the best time to refinance is when they reach their very lowest. Of course, it's impossible to know in advance when rates are going to rise.
The good news is that at the moment refinance rates are still really low, so if you've got a mortgage that you've had for a while, you should definitely consider refinancing. It's possible that your current rate is higher than you could get currently. You can easily view our refinance rates by using our iPhone Mortgage Rates App.
NY Refinance Rates FL Refinance Rates IL Refinance Rates TX Refinance Rates OH Refinance Rates GA Refinance Rates
PA Refinance Rates NJ Refinance Rates VA Refinance RatesMI Refinance Rates NC Refinance Rates WA Refinance Rates
Find Loan Officers near you providing Refinances
San Francisco Long Beach Los Angeles Sacramento Santa Rosa