Mortgage Refinancing Corona CA

With Banks Tightening Their Guidelines There Are Still Many Homeowners That Are Able To Qualify For Mortgage Refinancing Corona CA


So many banks have made their mortgage refinancing Corona CA guidelines so tight. There are still many homeowners that are able to qualify for mortgage refinancing Corona CA. With the help of the federal government many homeowners are able to qualify for mortgage refinancing Corona CA that would normally be turned down by the banks.

Conventional banks have made their mortgage refinancing Corona CA guidelines so tight that most homeowners are not able to qualify for mortgage refinancing Corona CA. To qualify for conventional mortgage refinancing Corona CA you need to have at least 20% equity in your home. This has become very tough for many homeowners because of the amount of foreclosures and short sales many homeowners do not have enough equity in their homes and more.

Also many of the banks have made it that you have to have a 680 credit score and in some cases have to have a720 credit score. This is tough for many homeowners who used to be able to qualify. Also many homeowners that are looking for mortgage refinancing Corona CA that are self employed or commissioned are not able to qualify. This is because now the banks will only go off of the income that you show on your personal tax returns.

With the help of the federal government many more homeowners are able to qualify for mortgage refinancing Corona CA. In the FHA government mortgage refinancing Corona CA you only need to have 2.25% of equity in your home. This is the lowest in the market and can only be a couple thousand dollars in some cases. Also you only need a 620 credit score to qualify for mortgage refinancing Corona CA in the government FHA program.

Overall there are still many homeowners that are able to qualify for mortgage refinancing Corona CA. This has been saving many homeowners lots of money on their monthly mortgage payments and the amount of interest that they will pay on the life of the loan until they are free and clear. This has been so important because of the amount of homeowners that are struggling because of the economy. If homeowners are able to put some extra money back in their pockets every month it is pretty huge.

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