You may think that refinancing your home loan is not at the top of your to-do list this holiday season, but maybe it should be. Many residents in California still carry a mortgage with a high interest rate unnecessarily. While no one can predict how long mortgage rates are going to last, it is important to consider refinancing into a lower mortgage payment now while the Fed is making financial moves aimed to be more favorable for consumers.

A Reduced Mortgage Payment Can Add Relief

While the holidays are just around the corner, so too are the bills associated with gift-giving, charitable donations, travel expenses and more. Refinancing to a lower rate can make your monthly payment more manageable while juggling seasonal expenses just in time for those credit card due dates.

Work with a San Francisco Mortgage Loan Professional

Evaluate your financial situation and see if refinancing or purchasing with a San Francisco mortgage is the right choice for your financial needs. Refinancing can save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.

As a Quicken Loans home loan expert licensed in California, I have helped many clients buy a new home or refinance into a lower monthly mortgage payment with a San Francisco mortgage loan. Whether you're looking for FHA Loans, VA Loans, fixed-rate, or adjustable rate mortgages, get in touch with me at Quicken Loans today!

With mortgage rates at historic lows, you may be thinking about refinancing your home. While this a great time to think about lowering your monthly mortgage payment, one of the main factors you need to consider before refinancing is equity in your home.

Your Home Equity in San Francisco

According to the San Francisco Chronicle, dropping home values across the country have left many Americans "underwater", owing more to their mortgage lender than their home's current market value. Other homeowners have low equity. Refinancing with little or no equity is not always possible with conventional lenders, but some government programs are available. The best way to find out if you qualify for a particular program is to visit a lender and discuss your individual needs. Homeowners with at least 10-15% equity will have an easier time qualifying for a new loan.

Other factors to consider before refinancing include your credit score, debt-to-income ratio, and refinancing costs. The factors, along with record low mortgage rates, are all things to consider in a home refinance.

Trusted San Francisco Home Equity Advice

Refinancing will save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.

As a Quicken Loans home loan expert licensed in San Francisco, I have helped many clients refinance into a lower monthly mortgage payment with a new home mortgage. If you're ready to move forward, get in touch with me at Quicken Loans today!

A Word from Jay Farner

Let me leave you with some advice from my friend and mentor Jay Farner Quicken Loans, President and CMO. He stresses doing your own research and empowering yourself to make the best financial decision possible when start refinancing or are looking to buy a home. Go online, ask family and friends, and always consult a trusted mortgage professional. Good luck!

The resilience of San Francisco home values during this economic downturn may have ran out.

According to Trulia.com, San Francisco is getting in line with the rest of the nation as home price reduction levels have increased for the third consecutive month.

Most of the bad news has come in September. 24% of homes for sale in San Francisco have had at least one reduction, which is consistent with August data. Overall, each zip in the area had a similar percentage of reduced properties.

This comes as price reduction levels across the U.S. match an all-time high from last year and are at their highest levels of 2010, reports the San Francisco Chronicle.

There is some good housing news though. Mortgage rates have remained at historic lows during the economic slowdown.

Record Low San Francisco Mortgage Rates

No one is sure how long these historic mortgage rates are going to last, but there's no denying that the time to get started on that home refinance you've been wondering about is right now.

While many are extremely cautious with any large financial decisions because of the faltering economy, I think everyone should at least consider refinancing before rates go back up. As good friend and Vice President of Quicken Loans Tim Birkmeier says "Don't float on rates, lock-it in!"

Refinance with San Francisco Mortgage Rates

Evaluate your financial situation and see if refinancing is the right choice (it probably is). Refinancing will save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.

As a Quicken Loans home loan expert licensed in San Francisco, I have helped many clients buy a new home or refinance into a lower monthly mortgage payment with the low Houston mortgage rates that are available. Whether you're looking for FHA Loans, fixed-rate, or adjustable rate mortgages, if you're ready to move forward get in touch with me at Quicken Loans today!

California home prices have gone up with the San Francisco metro area leading the charge. According to CNNMoney.com, the state of California is displaying signs of stability while the rest of the nation is still wavering.

Home prices are rising in virtually every corner of the state. They've climbed for nine consecutive months, and in July posted a 10.4% gain year-over-year. That puts the state's median price at $315,000 -- nearly twice the national median of $183,000...San Francisco posted the biggest gain of any U.S. metro over the past year, rising 14.3%. The median price there is now more than $607,000.

The news is mixed, though.

As reported by the San Francisco Chronicle, the volume of sales in Northern California dropped by 11% in the month of August. Same time last year, 7500 homes exchanged hands compared to 6700 homes last month - the lowest number of sales for the month of August, which is traditionally a popular summer home buying time, in 18 years.

So what's this mean for you?

While California housing prices remain unpredictable, there is one sure-thing. Mortgage rates are at historic lows. Really, rates haven't been this low since Eisenhower was president in the 50's!

Refinance with a San Francisco Mortgage

No one is sure how long low mortgage rates are going to last, but there's no denying that the time to get started on that home refinance you've been wondering about is right now.

While many are extremely cautious with any large financial decisions because of the faltering economy, I think everyone should at least consider refinancing before rates go back up. As good friend Jeff Perry Quicken Loans says, "Rates may never be this low again!"

Work with a San Francisco Mortgage Professional

Evaluate your financial situation and see if refinancing or purchasing with a San Francisco mortgage is the right choice (it probably is). Refinancing will save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.

As a Quicken Loans home loan expert licensed in San Francisco, I have helped many clients buy a new home or refinance into a lower monthly mortgage payment with a San Francisco mortgage. Whether you're looking for FHA Loans, VA Loans, fixed-rate, or adjustable rate mortgages, if you're ready to move forward get in touch with me at Quicken Loans today!

Photo Credit - http://www.flickr.com/photos/29245046@N03/

The economy is improving. But is it noticeable?

California's recovery from a brutal recession is happening at a snail's pace, according to economic report just released.

"All the evident suggest that California is ever so slowly coming out of the recession," said the UCLA Anderson Forecast for the third quarter. "While the groundwork for faster growth is being put down, there is not a lot of perceptible change."

And this is where the problem lies. People are still nervous because there's not a tangible difference, yet. Many remain hesitant about making any significant financial investments (rightly so).

According to a San Francisco Chronicle, the report says that more-rapid growth won't happen until the second quarter of 2011 as consumers continue to cut back and job growth remains sluggish.

Take Advantage of San Francisco Refinance

There is a positive in this economic mess. The opportunity to ensure you lower your monthly mortgage payment and save money is here. Mortgage rates are at record lows. Really, rates haven't been this low since they opened up the first McDonalds in the 50's! No one is sure how long low mortgage rates are going to last, but there's no denying that the time to get started on that home refinance you've been wondering about is right now.

While many are extremely cautious with any large financial decisions because of the sputtering economy, I think everyone should at least consider refinancing before rates go back up. As good friend and Vice President of Quicken Loans Jay Farner says, "Rates may never be this low again!"

Talk to a San Francisco Refinance Expert

Evaluate your financial situation and see if a San Francisco refinance is the right choice. Refinancing will save you cash by lowering your monthly mortgage payment. Depending on your financial situation, you could save thousands in interest by locking-in a lower rate.

As a Quicken Loans home loan expert licensed in San Francisco, I have helped many clients buy a new home or refinance into a lower monthly mortgage payment with a San Francisco refinance. Whether you're looking for any home loans, FHA Loans, fixed-rate, or adjustable rate mortgages, if you're ready to move forward get in touch with me at Quicken Loans today!