Long Beach 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%
MMA and SAVINGS 0.58%
$10k MMA 0.57%
Interest Checking 0.43%

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Benefits of a Mortgage Refinance in Long Beach, California

Long Beach, a city situated in the Los Angeles County, South California, has an estimated population of 467, 851. Being the dominant maritime center of the U.S., it is the main attraction of visitors or immigrants who wish to visit or reside in South California.

Mortgage refinance is when the current mortgage agreement is refinanced to a new agreement having altered terms and conditions, mostly a lower mortgage rate. A majority of the borrowers consider mortgage refinance, keeping in view of the benefits that this provides, which are briefly mentioned below:

  • A lower mortgage rate

The prevailing rates, at the time of the refinance, may be lower as compared to the time when you financed your existing mortgage. This lower rate will be advantageous for the borrower as he/she will be required to pay a reduced amount of monthly mortgage payments. Also, with a lower rate, you will be able to pay off your mortgage faster which eventually reduces the total amount of interest on your loan. In a majority of the refinance cases, this is the primary reason behind the choice.

  • Home equity can be accessed

This is another regular reason of refinancing a mortgage as it enables access to home equity. The cash-out refinance option, as it is commonly known as, is particularly designed so that the equity can be converted into spendable cash. There are three broad steps involved in this process; getting your home appraised, finding a lender and closing the loan. The cash generated from this option can be used to pay for anything, including paying off debts and home improvement. If the latter option is chosen, then you would not need any home loans for the purpose.

  • Obtain better terms or eliminate an ARM

The Adjustable Rate Mortgages, or ARMs, are highly volatile and unstable after they pass the initial introductory stage. The monthly payments under these mortgages may vary from month-to-month, which destroys the financial stability of any borrower. A majority of the economists suggest that homeowners or borrowers should get out of an ARM mortgage loan as soon as possible, and one way to do that is to go for a mortgage refinance.

Even after the refinance agreement is reached, make sure to calculate the monthly mortgage payments post-refinance by using the mortgage calculator available at





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