Low Refinance Rates in San Diego
San Diego mortgage refinance rates can be low if you work with a direct lender and understand and how to evaluate your loan options. You need to learn about refinance options so when read about loans and see terms like adjustable-rate mortgages (ARMs), a fixed conforming loan, a jumbo loan, loan points and more you will understand exactly what they mean to you. At Anchor Funding we will help you reach that level of understanding. Our loan officers do more than just work up an interest rate to refinance your home, they evaluate your situation, educate you on all of your options explaining important terms and concepts about home loans that you may not be familiar with. When you work with Anchor Funding not only will you get a great low mortgage rate, but you will have the confidence that you obtained the right loan with the right terms.
San Diego mortgage interest rates
Finding a low refinance rate for your home in San Diego if you understand you how mortgage interest rates are determined. Number one, the current state of our economy greatly impacts the range of mortgage and refinance interest rates available. These economic factors you have no control over, but you do have a great deal over other qualifications to get a great loan rate. These factors include your level of creditworthiness, most people see this as your credit score, as well as the type of loan you are trying to obtain. If you're very creditworthy with a credit score above 680 and have at least 20% equity in your property, you will most likely qualify for today's best mortgage rates. Some loan types are more risky to the lender. Non-conforming loan are loans that are above a set limit established by Fannie Mae and Freddie Mac for your zip code, or a loan where you need to borrow 100% of the appraised value of your home. In these cases you will find that the interest rates will be slightly higher than a conforming loan.
Bad credit mortgages and Refinancing in San Diego
No matter what that co-worker tells you, nobody has perfect credit! So don't worry if you have a couple dents in your credit file. At Anchor Funding we're a direct lender, and this means that we can take a variety of financial situations in to account when we set an interest rate and approve your loan. Often the big banks don't take the time to understand your exact situation, you're just a number, and you spend time and money applying for a loan that you will not qualify for. There are also a number of things you can do to help improve your credit score before obtaining your loan. Such as reducing the amount of credit balances you have but having a high borrowing limit. Pull a recent credit report and see if there are any small items you can quickly fix, like an old electric bill for $90 that you can pay off and have removed. Small items like this can push your credit score high enough to help you get that low mortgage interest rate and save you a great deal of money over time. At Anchor Funding Inc., you're not just a number we will take the time to work out the best mortgage rate for you and your financial situation.
San Diego mortgage rate comparison
Perhaps you've chosen San Diego as your home for its beaches, sunshine and warm temperatures. You're about to find out that it can also be a city that offers good options for new home mortgage financing. As you begin contacting mortgage lenders, recognize that there are differences betweeen loans and lenders. Important differences as many have learned since 2008!. Big banks and national mortgage lenders spend millions of marketing dollars signing as many loans as possible. At this large scale customer service and low interest rate mortgages tailored to your needs are not always what they offer. Somebody needs to pay for their big advertising campaigns correct? Local direct lenders like Anchor Funding Inc. on the other hand have a commitment to the community and we work with you hand in hand to educate you, give you a great rate, and stand beside you every step of the way through your loan process.
Why Choose Anchor Funding Inc.?