California Mortgage Refinance Loans

California Homeowners seek mortgage refinance loans with discounted mortgage rates for local refinancing with VA and FHA loan specials for conventional and jumbo loans online. With California mortgage rates hitting record lows, many locals were finally able to refinance into a lower monthly payment that was affordable enough to keep their house. After months of fighting off decreasing property values, Southern California homeowners took another blow with devastating wildfires that took San Diego, Orange and Los Angeles County by storm. San Diego alone evacuated over 600,000 residents due to the fires. With home prices dropping, mortgage rates rising, this has been a difficult year for California homeowners.

California Refinancing with Conforming, FHA, VA and Jumbo Loan Programs

The So-Cal economy will benefit from the recent mortgage rate cuts spurred by the Fed's action. With reduced mortgage rates, local consumers should gain more confidence in real estate and begin buying homes again.

New California Loan Limits for FHA, Fannie Mae and Freddie Mac home loans.

MSA Name

County Name

State

One-Family

Two-Family

Three-Family

Four-Family

SAN DIEGO-CARLSBAD-SAN MARCOS

SAN DIEGO

CA

$697,500

$892,950

$1,079,350

$1,341,350

SAN LUIS OBISPO-PASO ROBLES

SAN LUIS OBISPO

CA

$687,500

$880,100

$1,063,850

$1,322,150

SANTA BARBARA-SANTA MARIA

SANTA BARBARA

CA

$729,750

$934,200

$1,129,250

$1,403,400

FRESNO

FRESNO

CA

$381,250

$488,050

$589,950

$733,150

LOS ANGELES-LONG BEACH-GLENDALE

LOS ANGELES

CA

$729,750

$934,200

$1,129,250

$1,403,400

SANTA ANA-ANAHEIM-IRVINE

ORANGE

CA

$729,750

$934,200

$1,129,250

$1,403,400

SAN FRANCISCO-SAN MATEO-REDWOOD CITY

SAN FRANCISCO

CA

$729,750

$934,200

$1,129,250

$1,403,400

SACRAMENTO --ARDEN-ARCADE-- ROSEVILLE

SACRAMENTO

CA

$580,000

$742,500

$897,500

$1,115,400

EL CENTRO

IMPERIAL

CA

$325,000

$416,050

$502,900

$625,000

Homeowners who have recently struggled with rate adjustments might find comfort with the FHA Secure loan program that offers low rate refinancing even if your credit scores have gone bad from late mortgage payments. Southern California residents should examine their credit cards, installment loans and mortgages while considering refinancing all the adjustable rate terms into fixed rate loans that will save them a small fortune over the years.

Refinance Home Loans & Credit Cards to Save Money & Get More Cash Out!


San Diego homeowners can refinance their home mortgage and get cash out for new home construction, investments or debt consolidation!
.30 Year Fixed Rate Refinance
.Jumbo Refinance Loans
.40 Year Fixed Rate Refinancing
.Cash Out Home Refinance Loans
.Home Improvement Credit Lines
.Fixed rate Debt Consolidation
.Second Mortgage Lending
.Conforming Home Refinancing
.15 Year Fixed Rate Refinance
.FHA Refinancing for Bad Credit
.VA Home Refinancing for Military
.CALHFA Home Loans

California Home Foreclosures Climb as San Diego Wild Fire and
Interest Rates Surge

According to an MSN News article entitled "Foreclosures jump 30 percent in 3rd quarter", Foreclosure actions were reported on more than 446,000 properties the three months ended Sept. 30, up 30% from the second quarter and double last year's third quarter. The article further reports that California saw one filing for every 88 households, the second highest; the rate was up 36 percent from the previous quarter and nearly quadruple the third quarter of 2006. "Continued market concerns about weaker economic growth and further declines in the housing market have kept mortgage rates low over the last few weeks," said Frank Nothaft, chief economist at Freddie Mac.

Adjustable rate mortgage payments combined with decreasing home equity and tighter mortgage lending guidelines has triggered a severe credit crunch and all but wiped out the subprime market nationwide. House Financial Services Committee Chairman Barney Frank and other Democrats on the panel told administration officials time was critical, given statistics showing that 2 million subprime mortgages will reset in coming months at much higher monthly payments, greatly raising the risks of even more defaults. Subprime mortgage lenders are going out of business and lenders are going bankrupt.

California foreclosures continue to rise in 2007, and San Diego wild fires are throwing a new twist into southern California's real estate recovery. According to Wikipedia, at least 1,500 homes were destroyed and over 500,000 acres (2,000 km²) of land burned from Santa Barbara County, through Los Angeles and Riverside Counties, to San Diego County and the U.S.-Mexico border. Overall more than 781 square miles burned, as of Sunday October 28, 2007, with more than $1 billion (US) estimated in San Diego County alone. Overall, more than 1.8% of the land in Southern California has burned, an area 1.5 times the area of Los Angeles.

How will the wild fires affect San Diego's already faltering housing market?

The firestorms represent but the latest jolt to San Diego County's once-vibrant real estate market. The disaster arrived in the wake of plummeting sales and record foreclosures, which last month rose 301 percent from year-ago levels, according to a recent report released by DataQuick.

With more than 20,000 resale homes on the market in San Diego County and a public that's less than enthusiastic about buying, it's hard to say what effect the fires could have on sales in the short term, said Roni Telmosse, former president of the San Diego Association of Realtors. Analyst John Karevoll of DataQuick Information Systems pointed out that while San Diego home defaults and foreclosures during the third quarter of this year hit a record high, the year-over-year increase remains well below the rate in inland Riverside and San Bernardino counties, which have been hit especially hard by the mortgage meltdown.

 

Resource Tools

Refinancing Calculator
Affordability has become a major issue for California homeowners. With rates falling to 40-year lows, you may find that refinancing can save you a lot of money. Get help calculating the monthly payment and discover the net interest savings.

What Clients Say About Our Loan Services:

California Mortgage Refinance

"We were a bit skeptical shopping for a refinance loan online, but when we found Nationwide we got excited, because they had loan programs for California borrowers that had no equity. They helped us get approved for refinancing that save us over $700 a month! Thanks again for all your help and hard work." - B. Miller, La Jolla, CA.

San Diego Home Loans
The San Diego County housing market has declined slightly with an increasing foreclosure rate and slow home sales but many anticipate a slight rebound in 2011 or 2012.

Orange County Home Loans
Orange County home sales have not faltered to much along the coastal cities like, Laguna Beach and New Port. Inland areas like Tustin , Fullerton , Brea and Ladera Ranch seem to have declined because of the rise of foreclosures.


Mortgage Loan Blog with new insight every day about FHA Home Loans, Cash Out Refinance and Mortgage Refinancing.

Helpful Mortgage Loan Pages:
State Guide Second Mortgages | State Guide Home Equity Rates | California Mortgage Rates | Local Home Equity Rates for California |
California Second Mortgage | San Diego Home Loans
Additional California Loan Pages:
FHA Home Loans Replace Subprime Mortgages | Foreclosures Rise with Adjustable Rates | Orange County Borrowers Seek Fixed Rates | California Homeowners seek Jumbo Refinancing | FHA Home Refinance Loans in California
Refinance Rates | Mortgage Refinancing | Apply Now | Disclosures and Terms | Mortgage Refinancing | Home Loan | Testimonials
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