Refinance Mortgage Desert Center, CA
Refinance Mortgage in Desert Center, CA 92239
Looking for the Best Home Refinance Rates in Riverside County? Key Questions to Ask a Desert Center, CA Refinance Mortgage Company
If you’re a Riverside County homeowner and you’re looking for a company to assist you with a refinance mortgage near you, get in touch with Jet Direct Mortgage. Specializing in Desert Center, CA refinance mortgages and reverse mortgages, our team of licensed and certified brokers have been helping property owners throughout the area lower their monthly payments and get the most out of their home equity for decades. With home refinance rates the lowest they’ve been in decades, now is the perfect time to consider a refinance home loan. Whether you’re interested in cutting your monthly expenses or you’re looking to take advantage of the equity in your home, get in touch with Jet Direct Mortgage, the best refinance company, to find out how we can help you secure the lowest mortgage refinance rates.
Questions to Ask a Desert Center, CA Refinance Mortgage Company
With historically low refinance rates, now is the perfect time to consider a Desert Center, CA home refinance mortgage. Refinancing offers several benefits, some of the most notable of which include:
- A lower rate on your Riverside County mortgage
- Reduced monthly payments
- More predictable expenses
- A shortened term on your loan
Those are just some of the benefits that you can take advantage of when you refinance your Riverside County mortgage. After searching online for “refinance mortgage near me”, you’ve found a few companies that you’re thinking about working with. Now it’s time to schedule consultations and determine which company will best fit your needs. By knowing what questions to ask, you’ll have an easier time finding the right lender for you.
Here’s a look at some key questions you should consider asking when you’re looking for a Desert Center, CA refinance mortgage company.
What type of refinance loans do you offer?
While there are several different types of Desert Center, CA refinance mortgages, two of the most common options include:
- Rate and term refinance. With a rate and term refinance, you’ll be able to lower the rate on your loan or change your loan program (go from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, for example), or do both. If you want to take advantage of the low home refinance rates and you are interested in switching to a different type of loan, a rate and term refinance would be a good option for you.
- Cash-out refinance. With a cash-out refinance, you can take advantage of current market home refinance rates. For example, if your Riverside County home is worth more than you owe on your current mortgage, you could withdraw the equity you’ve built and secure a lower interest rate. For example, if your principal balance is $100,000 and you want to secure $25,000 to put an addition on your house, with this type of Desert Center, CA refinance mortgage, you could take out a $125,000 mortgage; your lender would put $100,000 toward your principal balance and give you a check for $25,000.
What do I need to qualify for a refinance home loan?
Find out what standards the lender will require you to meet in the following areas in order to be eligible for a Desert Center, CA refinance mortgage:
- Credit score. No matter which lender you work with, your credit score will not only impact your ability to qualify for a new loan, but it will also impact the home refinance rates you’ll receive. However, the minimum credit score requirement will vary from lender to lender, so make sure that you find out what your score will need to be in order to qualify for the loan you’re interested in.
- Equity. The amount of equity you’ve built in your Riverside County home refers to the percentage that you’ve paid off on your principal balance. Typically, lenders will require you to have at least some amount of equity in your house in order to be eligible for a refinance. Make sure that you find out how much equity the lender you’re thinking about working with will require you to have in order to refinance.
- Debt-to-income (DTI) ratio. This ratio compares your monthly debt payments to your monthly gross income (the amount of money you make before deductions, such as taxes and health insurance, are taken out). DTI is the percentage of your gross monthly income that you need to pay your monthly debts.
Do you offer locks on interest rates?
Home refinance rates fluctuate on a daily basis, and they vary significantly and depend on the current market. Though it will take less time to complete the process of completing a Desert Center, CA refinance mortgage than it took to secure your initial loan, they don’t close overnight. With a rate lock, you’ll be able to lock in your interest rate and keep that rate while your Riverside County lender closes out your loan. This will prevent you from being impacted by changes in interest rates as the market shifts and ensure that your new loan remains predictable.
How much will closing costs be?
Just like when you took out the initial mortgage on your Riverside County home, you’ll have to pay closing costs to your lender in order to finalize your refinance home loan. Closing costs will vary from lender to lender and vary from one location to another. On average, closing costs on a refinance are equivalent to around 2% to 3% of the total value of your mortgage, but be sure to ask your lender so that you know how much you’ll be responsible for ahead of time.
For the Best Home Refinance Rates in Riverside County, Contact Jet Direct Mortgage!
When you’re researching “refinance mortgage near me”, be sure to include Riverside County’s best refinance company on your list of lenders to contact. To find out how we can help you secure the lowest home refinance rates, save money on your monthly payments, or make the most out of your home’s equity, call 855-553-4732 or visit https://www.jetdirectmortgage.com/ to speak with one of our certified loan officers.
Some information about Desert Center, CA
Desert Center is a census designated place in the Colorado Desert in Riverside County, California. It is in southern California, between the cities of Indio and Blythe at the junction of Interstate 10 and State Route 177, about halfway between Phoenix and Los Angeles. The ZIP Code is 92239, and the community is in telephone area codes 442 and 760. The elevation is 656 feet (200 m). The population was 204 at the 2010 census.
The town was founded in 1921 by Stephen A. Ragsdale, also known as “Desert Steve”, and his wife, Lydia. Ragsdale was an itinerant preacher and cotton farmer, originally from Arkansas. In 1915, he left his farm in the Palo Verde Valley along the Colorado River to attend to some business in Los Angeles. The road between Phoenix and Los Angeles was mostly sand, and Ragsdale’s vehicle broke down near a place called Gruendyke’s Well. This featured a hand-dug well and was inhabited by a prospector named Bill Gruendyke. Gruendyke rescued Ragsdale and gave him food, shelter, and water until his vehicle was repaired and he could resume his journey to Los Angeles.
Upon his return, Ragsdale bought out Gruendyke and moved his family to the remote spot, where they constructed a small shack with a lean-to that served as a repair garage. A Model T truck was modified to serve as a tow car. Gasoline was pumped by hand from a 55-gallon drum. Lydia served food and refreshments to thirsty and weary travelers. In spite of the remote location-50 miles (80 km) in any direction from anything-the Ragsdales prospered. Ragsdale named his outpost “Desert Center”. In 1921, it was announced that the sand road running through Desert Center would be relocated about 5 miles (8.0 km) north, straightened, paved, and named U.S. Route 60, a modern “high-speed” highway. In March 1926, The San Bernardino Daily Sun reported that 21 miles of grading was being done on a new road from Desert Center to Hopkins Well, changing the location of the desert highway and running over better soil.
- “‘The old highway there will be abandoned when the new work is completed,’ said Mr. [E. Q.] Sullivan [division engineer for the California Highway Commission], ‘and we will later surface such stretches of the new road as are necessary.’ F. C. Payton is the contractor handling the grading work.”
Ragsdale abandoned “old Desert Center” and built a poured-concrete café in the adobe style with an attached gasoline station and a huge service garage. Across the road, a series of wooden structures were built, including a market (which at one time was the largest Coleman camping equipment dealer in the country), and a post office. He also built several cabins for travelers, and a large “plunge” (swimming pool) next to the café where travelers could escape the desert heat.