Refinance Mortgage Temecula, CA
Refinance Mortgage in Temecula, CA 92590
Considering a Temecula, CA Refinance Mortgage? Important Factors To Consider Before You Start Researching “Refinance Mortgage Near Me”
If you’re thinking about taking advantage of the historically low home refinance rates with a Temecula, CA refinance mortgage, you want to be sure that you find the best refinance company to assist you through the process. Don’t bother going through the hassle of researching “refinance mortgage near me” and hoping that you’ll find a reputable lender. Instead, get in touch with Jet Direct Mortgage, a leading refinance home loan and reverse mortgage provider. Offering years of experience and a proven track record of success, you can count on our team of licensed and certified professionals to help you secure the best mortgage refinance rates. Whether you’d like to lower your monthly payments, shorten the life of your mortgage, or want to access the equity in your Riverside County home, contact Jet Direct Mortgage today!
What You Should Know Before You Consider a Temecula, CA Refinance Mortgage
With record-low refinance rates, you might be thinking about investing in a Temecula, CA refinance mortgage. Refinancing could lower your monthly mortgage payments, reduce the life of your loan, and allow you to access the equity in your Riverside County home; just to name a few of the benefits. However, before you start researching “refinance mortgage near me”, there are a few factors that you’re going to want to consider before you get in touch with a company that specializes in refinance home loans.
Here’s a look at some of the most important things that you should know before you start the process of refinancing your Riverside County home.
Find Out How Much Equity You Have in Your Riverside County Home
One of the most important factors that you’re going to want to consider before you refinance is how much equity you have in your Riverside County house. If you have little or no equity, you may not be able to secure a Temecula, CA refinance mortgage.
To calculate how much equity you have, first, estimate the current market value of your property. You can use a free online tool, such as Redfin’s Estimate or Zillow’s Zestimate, which utilize algorithms and information that’s made publicly available to generate current market estimates. Next, find out how much you own on your existing mortgage by checking your most recent statement or by requesting a loan balance from your lender. Then, subtract the balance on your mortgage from your home’s current market value. For example, if your home is valued at $400,000 and you owe $150,000, you would have $250,000 of equity.
Calculate Your Debt-to-Income Ratio
Debt-to-income (DTI) ratio compares how much money owe on your debts each month to your gross income (the amount you make before deductions are removed, such as taxes and health insurance). Typically, Temecula, CA refinance mortgage lenders are looking for a DTI ratio of no more than 36%, as this amount will help you secure the best refinance rates. However, if your DTI ratio is higher than 36%, that doesn’t mean you won’t qualify for a refinance home loan. The best refinance mortgage company may be able to assist you with refinancing your Riverside County house at a good rate.
Find Out Your Credit Score
You’ll also want to find out your credit score, as it will have a direct impact on your eligibility for a refinance mortgage, as well as your interest rates. Ideally, you should have a credit score of at least 740 to be considered eligible for a Temecula, CA refinance mortgage. If your credit score is lower, don’t despair, as there are some things you can do to increase it; for example, you could check for and dispute errors on your credit report, pay down your debts and make sure you’re making timely payments.
Find Out the Current Refinance Rates
Just like the rates on a traditional home mortgage, the rates on Temecula, CA refinance mortgages vary and change on a constant basis. The rates you saw when you are researching this afternoon could be different tomorrow morning. For that reason, it’s important that you find out what the most current home refinance rates are right before you start the process of applying. It’s also a good idea to choose a lender that will be able to lock the rates in place so that you won’t be affected should they go up before your new mortgage is finalized.
Ready to Apply for a Refinance Mortgage Near You?
If you’re thinking about refinancing your current Riverside County mortgage and you want to find the best mortgage refinance company in the area, get in touch with Jet Direct Mortgage. Offering years of experience and a proven track record of success, we can help you secure the lowest rates on a refinance home loan. For more information or to schedule a consultation with one of our knowledgeable and friendly loan officers, give us a call at 855-553-4732 or check us out online at https://www.jetdirectmortgage.com/.
Some information about Temecula, CA
Temecula is a city in southwestern Riverside County, California, United States. The city is a tourist and resort destination, with the Temecula Valley Wine Country, Old Town Temecula, the Temecula Valley Balloon & Wine Festival, the Temecula Valley International Film Festival, championship golf courses, and resort accommodations for tourists which contribute to the city’s economic profile. Although Temecula is geographically closer to downtown San Diego than downtown Los Angeles, it is considered part of the Greater Los Angeles area.
The area was inhabited by the Temecula Indians for hundreds of years before their contact with the Spanish missionaries (the people are now generally known as the Luiseños, after the nearby Mission San Luis Rey de Francia). Seven bands of Luiseño Indians inhabited the Temecula valley pre-contact. They were made up of the Pechanga, La Jolla, Soboba, Pala, Rincon, Pauma, and San Luis Rey bands (presently, all of the bands except the San Luis Rey are federally recognized tribes). The Pechanga Band of Luiseño believe their ancestors have lived in the Temecula area for more than 10,000 years, though ethnologists think they arrived at a more recent date. In Pechanga history, life on Earth began in the Temecula Valley. They call it “‘Éxva Temeéku”, the place of the union of Sky-father, and Earth-mother (“Tuukumit’pi Tamaayowit”). The Temecula Indians (“Temeekuyam”) lived at “Temeekunga”, or “the place of the sun”. Other popular interpretations of the name include “The sun that shines through the mist” or “Where the sun breaks through the mist”.
The first recorded Spanish visit occurred in October 1797, with a Franciscan padre, Father Juan Norberto de Santiago, and Captain Pedro Lisalde. Father Santiago kept a journal in which he noted seeing “Temecula … an Indian village”. The trip included the Lake Elsinore area and the Temecula Valley.
Little is known about the early 1800’s because Temecula records were destroyed in the fire that followed the 1906 San Francisco earthquake.