Refinance Mortgage Thousand Palms, CA

Refinance Mortgage in Thousand Palms, CA 92276

Considering a Thousand Palms, 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 Thousand Palms, 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 Thousand Palms, CA Refinance Mortgage

Ready to Start the Mortgage Process?

With record-low refinance rates, you might be thinking about investing in a Thousand Palms, 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 Thousand Palms, 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, Thousand Palms, 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 Thousand Palms, 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 Thousand Palms, 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 1.800.700.4JET or check us out online at https://www.jetdirectmortgage.com/.

Some information about Thousand Palms, CA

Thousand Palms is a census-designated place (CDP) in the Coachella Valley of Riverside County, California, United States. The population was 7,715 at the 2010 census, up from 5,120 at the 2000 census.

Large colonies of fan palms have for long been named a thousand palms. This area was previously known as 100 Palm Spring, as seen on 1874 maps and an official Land Office map dating to 1891. The post office was established in 1915 and the area was named Edom, California after the ancient Asian nation. However, in 1919, a residents petition was carried out and the name was changed to Thousand Palms.

The location had a post office called Edom in 1913. The post office was moved in 1938 and then renamed as Thousand Palms in 1939.

Learn more about Thousand Palms.