tag:blogger.com,1999:blog-53748718803562632322023-11-15T07:47:29.355-08:00Mortgage Loan Broker Inyo CA - Call 323-705-3191Here Choose Best Mortgage Loan Broker in Inyo, Mortgage Broker Agent in Inyo, Inyo CA Mortgage Rate, Mortgage refinance online Inyo, Same Day Mortgages Loan Call 323-705-3191Anonymoushttp://www.blogger.com/profile/00205375259307929407noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5374871880356263232.post-1018462262948139502017-09-22T04:08:00.002-07:002017-09-22T04:08:48.918-07:00Inyo CA Lowest Mortgage Rates<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Verdana, sans-serif;"><b>September 2017 Mortgage Rates Average</b></span></h3>
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<span style="font-family: Verdana, sans-serif;">CURRENT REFINANCE RATES INYO CA</span></div>
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<span style="font-family: Verdana, sans-serif;">● 30 year fixed<span style="white-space: pre;"> </span>3.63%<span style="white-space: pre;"> </span>↑ 0.02</span></div>
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<span style="font-family: Verdana, sans-serif;">● 15 year fixed<span style="white-space: pre;"> </span>2.99%<span style="white-space: pre;"> </span>↑ 0.07</span></div>
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<span style="font-family: Verdana, sans-serif;">● 5/1 ARM<span style="white-space: pre;"> </span>3.07%<span style="white-space: pre;"> </span>↑ 0.14</span></div>
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<span style="font-family: Verdana, sans-serif;">We shall cover some common questions that <b>Inyo CA Mortgage borrowers</b> often ask in the article:</span></div>
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<span style="font-family: Verdana, sans-serif;"><b>The Benefits of FHA Mortgage</b></span></h4>
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<span style="font-family: Verdana, sans-serif;">In 1930 when we had a great depression. Banks were foreclosing on properties and reckless bankruptcy filling was being made back then. The Government realized that some sort of protection to the borrower and banks has to be provided in order that a stable home mortgage system can be designed. Hence FHA was worked out as a solution.</span></div>
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<span style="font-family: Verdana, sans-serif;">FHA mortgage is essentially backed by Federal Housing Administration which basically guarantees the lender or the bank that in the event borrower makes a default on his payment. FHA will make the bank good with the sum loaned on the mortgage.</span></div>
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<span style="font-family: Verdana, sans-serif;">Hence banks and lenders find it easy to provide a mortgage on easy terms to the borrowers. Whether you are buying a home or refinancing as an existing FHA mortgage holder.</span></div>
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<span style="font-family: Verdana, sans-serif;">What that means is, like all individuals we go and <b>buy a life insurance policy</b> that basically acts as a hedge against any calamity on life that may happen and protects our family. The same way when you take an FHA mortgage. You have to buy <b>FHA Mortgage Insurance</b> upfront from FHA for your mortgage.</span></div>
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<span style="font-family: Verdana, sans-serif;">Call <b>Inyo CA mortgage expert</b> below to get you the lowest mortgage rate on your refinance.</span></div>
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<span style="font-family: Verdana, sans-serif;">This mortgage insurance has two components. one is called UPFRONT MORTGAGE INSURANCE which is 1.75% of your Base mortgage amount that you are borrowing. The other is called MONTHLY MORTGAGE INSURANCE which is a smaller percentage based on the appraised value, loan term, and mortgage balance. This is paid monthly to FHA like any other insurance premium.</span></div>
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<span style="font-family: Verdana, sans-serif;">Both the upfront and <b>monthly mortgage insurance premium</b> is tax deductible. The monthly mortgage insurance for almost any loan term or product type the borrower goes for would be for life. Typically in case of another mortgage like a conventional mortgage. The moment you carry mortgage balance which is equal to 80% of the appraised value of the home in the current market. Mortgage insurance can be waived but that is generally not the case with FHA.</span></div>
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<span style="font-family: Verdana, sans-serif;">Call Inyo CA mortgage expert below to get you the <b><a href="https://refinancemortgagelender.blogspot.in/">lowest mortgage rate</a></b> on your refinance.</span></div>
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<span style="font-family: Verdana, sans-serif;">The advantage to the Inyo CA borrower is that he gets a lower rate than any other mortgage type. The underwriting is not as tough or scrutinized because its already backed by FHA and borrower is taking an Insurance policy over and above the mortgage. It comes with a very low down payment option of only 3.5%. Not only that, once you do get enrolled for an FHA and the next time you refinance. You are not required to pay for another appraisal. This is called STREAMLINE refinancing. Your income and credit scores and not scrutinized as much either. STREAMLINE essentially means that you already are in FHA bucket and from FHA bucket you are moving to the same FHA bucket to get some monthly savings.</span></div>
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<span style="font-family: Verdana, sans-serif;">Another advantage is that once you take FHA paying UPMIP of 1.75% of the base loan amount. The next time you refinance. That does not mean you pay again 1.75% of the loan amount. The last UPMIP that you paid is adjusted with the new 1.75%. The borrower does not get a cash back of UPMIP but its adjusted with the new loan and it's its new UPMIP as a rule with some conditions.</span></div>
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<span style="font-family: Verdana, sans-serif;">Call Inyo CA mortgage expert below to get you the lowest mortgage rate on your refinance.</span></div>
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<span style="font-family: Verdana, sans-serif;">For more information visit <b>www.affordable-payment.com</b> or <b>call 323-705-3191</b> if you are a California Mortgage borrower. You can even email at <b>roger@affordable-payment.com</b></span></div>
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<span style="font-family: Courier New, Courier, monospace;"><i>Article by<b> Roger Shanker</b></i></span></div>
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