Bakersfield CA. Mortgage Rates

Fixed Rate Mortgage Refinance Loan CA

Conventional Fixed-Rate Mortgages	Rate	APR
30-Year Fixed (conforming)	3.875%	3.946%
20-Year Fixed (conforming)	3.625%	3.723%
15-Year Fixed (conforming)	3.250%	3.374%
10-Year Fixed (conforming)	3.250%	3.430%

Affordable payment can help you shop through a variety of lenders, banks, mortgage brokers and providing you custom rates without any of these banks, lenders, brokers. You do not have to give out your personal information to any of these brokers or lenders. Get qualified for the lowest mortgage and right program and excellent support from Affordable payment.

In this Article we shall focus on answering some common queries of Bakersfield CA mortgage borrowers:

Property listed for sale. Things a mortgage borrower must keep in mind if they NOW wish to refinance the same property:

Fannie Made Guideline states that the property that has been listed for sale cannot be refinanced. The property must come out of listing at the time of close. The borrower will have to present a very sound reason to the lender as to why they listed the house at the first place and why they now chose to refinance the same. If they wish to take cash out of the property. Fannie Mae says that the property must be de listed at least 6 months prior to taking cash out on such property that was listed for sale.

Freddie Mac on the other hand says that should the borrower be looking to draw cash out of the property listed for sale. He cannot borrow more than 70% and if he simply wishes to refinance then the property must be out of listing before the loan funds.

Remember these are Fannie Mae and Freddie Mac guidelines. Your local lender may have riders that may impose conditions over and above these.

Ideally a borrower will have to present in writing of his intention in staying in the property. If the borrower refinances and then lists the property he may invite trouble for himself or if he decides to sell the property, he may invite trouble, including the bank or lender going legal against the borrower.

The moment you list the property. That listing becomes visible to every one through MLS or MULTIPLE LISTING SERVICE. It shows up at the underwriter’s desk and the appraisal company’s desk. So everyone knows whether you mention this or not.

It’s important while speaking to your mortgage expert that you tell them upfront so that your mortgage can be prepared accordingly. DO NOT KEEP THE MORTGAGE EXPERT IN DARK. He is your best and trusted confidant when doing mortgage so he must be aware even before mortgage is pursued by the borrower as that ways he can immediately tell you the steps and save your time and money.

Call Bakersfield CA mortgage expert below to get you the lowest mortgage rate on your refinance.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower.

Artical by Roger Shanker