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Historic Low California 30 Year Fixed Rate Home Loans
With all the negatives to come out of the current pandemic situation, one positive is the historic low California 30 year fixed rate home loans available on the market.  For borrowers planning to stay in their homes for at least a few years, being able to secure rates at these levels makes a lot of sense.  With that being said, however, todays fixed loan options have some new obstacles to navigate.
For borrowers looking to do a rate and term refinance - which is where no cash out is being taken - rates and programs are extremely attractive.  When was the last time you've seen rates in the 2's?  Borrowers just looking to refinance into a lower rate are securing ridiculous sounding rates right now.  Appraisal waivers are not uncommon on these transactions either.  For rate and term transactions, you should be getting quoted the best of the best.
For borrowers looking for cash out, we come to the first obstacle.  As soon as you add cash out to your transaction, rates and terms are taking decent sized hits.  You can still benefit in this situation, as rates are still historically low, but the cash out adds right now are seemingly across the board, regardless ... more

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