Refinance Mortgage Rancho Mirage, CA

If you own a home in Riverside County, there’s no doubt you’ve been hearing the buzz about low-mortgage refinance rates. You may even know someone (or maybe a few people) who have taken out a refinance home loan, and you may be wondering if you should, too. How do you know if a refinance home loan is a good option for you? Here’s a look at some key signs that you should consider a Rancho Mirage, CA refinance mortgage.

You Want to Reduce Your Monthly Payments

If current refinance rates are lower than the rate on your existing mortgage and you want to lower your monthly payments, a Rancho Mirage, CA refinance mortgage may be the right option for you. Interest accounts for a large chunk of the amount you pay toward your monthly mortgage payment. Therefore, by rolling your current loan into a new loan with a lower rate, you could save a good bit of money. For example, if your current interest rate is 6% and you take out refinance home loan with a 3% interest rate, you could see sizable savings in your monthly expenses.

You Have a Healthy Credit Score

The better your credit score, the better your mortgage refinance rates will be. In order to secure a good rate, your credit score will need to be either very good (between 740 and 799) or exceptional (800 or higher). If you haven’t taken a look at your credit score in a while, you can do so easily, for free, and as often as you’d like. The common misconception that frequently checking your credit report will have a negative impact on your sore is just that, a misconception. You can check out your score on one of the three major credit bureaus, or you can use sites like Credit Karma.

If it seems like your score isn’t as high as it should be or it won’t be enough to land you a good rate on a Rancho Mirage, CA refinance mortgage, there are some things that you can do that may be able to help bump up the number quickly. For example:

• Check for errors and if you spot any, contact the credit bureau that issued the report to dispute them.
• Pay off your credit card debt – or at least pay it down as much as possible. Doing so will reduce your credit utilization, the percentage of the credit that’s available to you that you’re currently using.
• Pay all of your bills in a timely manner. If a payment is received just one day past the due date, your credit score could take a hit.

You Want to Switch from an Adjustable-Rate Mortgage to a Fixed-Rate Loan

When you first bought your Riverside County home, an adjustable-rate mortgage (ARM) may have seemed like a good idea and for a few years, it may have saved you money on your monthly payments. However, once the fixed period on your ARM comes to an end, the interest rate on your loan could go up, and you could end up having to pay out significantly more on your mortgage payments. Though the fixed rate on a Rancho Mirage, CA refinance mortgage may be higher than your original ARM, you’ll be able to avoid rate increases in the future. Furthermore, given the fact that current refinance rates are at historic lows, you could end up saving quite a bit over the life of your loan.

You Want to Access the Equity in Your Riverside County Home

If you’re looking for a cost-effective way to secure funding for a new car, a home improvement, a vacation, to pay down debts, or for any other reason, a cash-out refinance loan is definitely an option to consider. With this type of Rancho Mirage, CA refinance mortgage, as long as you have accrued at least 20% equity in your Riverside County house, you can withdraw the equity in your home. For instance, if your home is valued at $400,000 and you only have $100,000 left on your existing mortgage, you have $300,000 of equity that you can borrow against. You could then opt for a cash-out refinance for $25,000 of the equity in your house and your new refinance home loan would be $125,000.

Looking for a Reputable Company that Specializes in Refinance Mortgage Near You?

If you’re interested in a refinance home loan and you’re looking for a company that you can count on to assist you with securing a low-interest rate, get in touch with Jet Direct Mortgage. To find out more about the Rancho Mirage, CA refinance mortgage process and how we can assist you with the process, give us a call at 1.800.700.4JET or check out our website at https://www.jetdirectmortgage.com/.

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Some information about Rancho Mirage, CA

Rancho Mirage, also called Mirage, is a city in Riverside County, California, United States. The population was 17,218 at the 2010 census, up from 13,249 at the 2000 census, but the seasonal (part-time) population can exceed 20,000. Located between Cathedral City and Palm Desert, it is one of the nine cities of the Coachella Valley. Rancho Mirage was incorporated in 1973 from a merger of five unincorporated areas known as the “Cove communities”, and had 3,000 permanent residents at the time.

Native Americans came to the area 2,000 years ago. The local tribe in Rancho Mirage is the Agua Caliente Indian tribe of Cahuilla Indians. The tribe was almost annihilated by smallpox in 1862-63 but survived, establishing a resort and casino within the city limits. An ancient Native-American trade route, the Halchidhoma trade route, follows the water holes and water springs along the foothills of the Santa Rosa Mountains. This trail is now partially California State Route 111 in Rancho Mirage. The trade route originally reached from the Pacific Ocean in the west to central Arizona, and was used for centuries for trading, food, and for religious purposes. About 1,000 years ago, the local Cahuilla tribes were introduced to pottery from Native American tribes by the Colorado River. The Spaniards also knew of the Coco-Mariposa Trail in the 1820s when they would send letters by Cahuilla runners along the trail to the mission in Tucson, Arizona. The natural environment in Rancho Mirage has supplied the Cahuilla people with various water sources. Although rare in such arid desert environments, the Cahuilla had access to Magnesia Spring in Magnesia Spring Canyon, which is 1.5 miles from Whitewater River. In addition, a variety of natural springs are situated along the San Andreas Fault line near Indio Hills.

Throughout the 1920s, the area today known as Rancho Mirage remained mostly an undeveloped desert area dotted with date and grape ranches. However, in 1928, 160 acres (65 ha) here were purchased by the Southland Land and Realty Company. Access was planned by camel on roads given North-African names, including Tunis Road, Tangier Road, and Sahara Road. The 1929 Depression put an end to the plans. A few years later, a Los Angeles realtor, Lawrence Macomber, purchased hundreds of acres here. Along with Don Cameron, the two began offering property here advertised as “fifteen minutes from Palm Springs, CA.” They were able to attract actor Frank Morgan, among others, until the onset of World War II brought development to an end once again. In 1944, hundreds of acres were bought by Major A. Ronald Button. He described it as “the most wind free area I could find in the desert.” Two years later, in 1946, Henry L. Gogerty established an airstrip here and later launched the Desert Air Hotel and Airpark.

Although the first modern settlements date back to the 1920s and 1930s, Rancho Mirage got its claim to fame after World War II. The Annenberg Estate or ‘Sunnylands’, owned by philanthropists Walter and Leonore Annenberg, had long been popular with the wealthy and powerful, including Frank Sinatra, Bob Hope, Fred Astaire, Ginger Rogers, Patrick Macnee, Zeppo Marx and Mary Martin. Several U.S. Presidents have vacationed at the Annenberg estate, including Richard Nixon, Ronald Reagan, and Gerald Ford. President Ford later bought a house in Rancho Mirage and was living there at the time of his death in 2006. The , a world-renowned addiction rehabilitation center, is located in Rancho Mirage at the . President Barack Obama also used Sunnylands for summit meetings with world leaders during his administration.

Learn more about Rancho Mirage.

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• Rancho Mirage, CA is located in Riverside county in California State