Refinance Mortgage Eastvale, CA
Refinance Mortgage in Eastvale, CA 91752
Looking for the Best Home Refinance Rates in Riverside County? Key Questions to Ask a Eastvale, 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 Eastvale, 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 Eastvale, CA Refinance Mortgage Company
With historically low refinance rates, now is the perfect time to consider a Eastvale, 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 Eastvale, CA refinance mortgage company.
What type of refinance loans do you offer?
While there are several different types of Eastvale, 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 Eastvale, 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 Eastvale, 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 Eastvale, 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 Eastvale, CA
Eastvale is a city located in northwestern Riverside County, California, in the Inland Empire region of Southern California. The area transitioned from a dairy farm enclave to a developed community starting in the 1990s and was formally incorporated on October 1, 2010. As of the 2020 census, the city had a population of 69,757. The city’s name is derived from “East Vale” as a listed school district in 1893 by the Riverside County Board of Commissioners.
The Eastvale region was part of the homeland of the indigenous Tongva people for about 8,000 years. Specifically, the Tongva people had a large metropolis centered in Eastvale.
Recorded history of land in the far western side of present-day Riverside County and north of the Santa Ana River begins in 1838, when Mexican Governor Juan Alvarado, of the Alta California territory, granted Rancho Jurupa (some 48 square miles) to Juan Bandini. The city of Eastvale now occupies approximately the westernmost one-quarter of former Rancho Jurupa land grant. The Mexican-American War between the United States and Mexico ended in 1848 with the Treaty of Guadalupe Hidalgo, by which Mexico ceded Alta California and much other Southwestern land to the US. Two years later, on September 9, 1850, California became a U.S. state.
For 65 years, between 1889 and 1954, the Fuller family owned about 6 square miles of ranch land on the north side of the Santa Ana River. Almost half of present-day Eastvale, between Schleisman Road and the river, was included within the Fuller ranch’s boundaries.