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Bakersfield California Home Mortgage
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California Mortgage
PRODUCT +/- Rate Last week
30 year fixed Graph Icon Arrow 4.09% 4.16%
15 year fixed Graph Icon Arrow 3.25% 3.30%
5/1 ARM Graph Icon Arrow 3.28% 3.36%

 Rate disclaimer

PRODUCT +/- Rate Last week
30 year fixed refi Graph Icon Arrow 4.09% 4.17%
15 year fixed refi Graph Icon Arrow 3.25% 3.34%
10 year fixed refi Graph Icon Arrow 3.15% 3.18%
PRODUCT +/- Rate Last week
60 month used car loan Graph Icon Arrow 3.20% 3.20%
48 month used car loan Graph Icon Arrow 3.18% 3.19%
60 month new car loan Graph Icon Arrow 3.44% 3.44%
PRODUCT +/- Yield Last week
6 Month CD Graph Icon Arrow 0.75% 0.71%
1 Year CD Graph Icon Arrow 1.24% 1.24%
2 Year CD Graph Icon Arrow 1.41% 1.41%
PRODUCT Rate
MMA and SAVINGS 0.58%
$10k MMA 0.57%
Interest Checking 0.43%

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Refinancing your Mortgage in Bakersfield, California: What you need to Know


Bakersfield has a population of over 350,000, making it the 9th largest city in California. The city has a very diverse economic culture. Gas, agriculture and mining are some of the major industries based in Bakersfield. The town has a stable real estate industry which is why people are investing in houses. A lot of homeowners are looking to refinance their mortgage this year because of the excellent deals on offer. Let’s discuss the things that residents of Bakersfield need to know in order to successfully implement refinancing.

Repairing your Credit Score

You might have a bad credit score and a bad financial history but it’s never too late to start a recovery process. Start by going through your credit report - borrowers with scores of 740 or more get the best mortgage rates. But borrowers must be careful when using credit because those who do not use much credit can wind up with a low score.

Reduce the Term of the Loan

You can increase your savings by having the term of your loan reduced. If you have taken out a 30 year fixed rate mortgage, then consider refinancing if you get lower rates. This will help you save a lot of money over the life of the mortgage. Shift to a 20 or 25 year term and avoid paying excessive costs.

Don’t Rely on a Single Lender

Refinancing is all about finding the best deal. The gap between the best and worst deals can be as much as a full percentage point. Loan costs will also vary depending on your financial situation. Getting estimates from multiple lenders will help you negotiate better deals.

Maintain Relationships

Banks and other financial institutions are very cautious about mortgage lending so it is vital that you maintain a positive relationship with them. Customers who have valuable assets with banks are likely to get favorable deals.

www.mortgagerefinance.com is a very useful website for the people of Bakersfield. We have the latest news and updates on refinancing, home loans and mortgage rates. You can also make use of our mortgage calculator to figure out financial statistics and compare information.

More About Mortgage Refinance