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Refinancing Your Mortgage

Refinancing Your Mortgage

There are many reasons someone would choose to refinance their mortgage. See below for more information.

There are many reasons someone would choose to refinance their mortgage. See below for more information.



Refinancing Your Mortgage

There are many reasons a homeowner chooses to refinance their mortgage. These can include lowering your mortgage interest rate, changing the term length, consolidating debt, home remodeling, paying for education, discontinue MI/PMI, buying a vacation home, new boat, motorhome,  new vehicle, dream vacation, investment opportunities, or simply cashing out equity. 

Watson Capital Mortgage specializes in the following mortgage products within California:

1). Conforming Loans
2). High Cost Conforming Loans
3). Jumbo Loans
4). First Time Homebuyer Loans (97% LTV)
5). Non-QM Loans
6). Bridge Loans

Changing Term Length:

Shortening term length can take years off of your mortgage. Overall, this will decrease the amount you will pay in interest and give you a better rate.

Lengthening or resetting your term can reduce monthly payments depending on how much of your original loan amount has been paid down.  This can allow you more flexibility with your monthly finances. 

Consolidating Debt:

Often times borrowers choose to consolidate high interest debt into their mortgage. This can potentially save you thousands in interest and improves your monthly cash flow. By consolidating the debt, you no longer have to worry about having to pay multiple bills.

Caution: This works great as a plan to reduce high interest debt but, be careful not to increase your credit cards debts once they have been paid off. 

Remove Private Mortgage Insurance or Mortgage Insurance:

If you purchased your home and had less than 20% equity you may be paying Mortgage Insurance (MI). Once your value increases or you have paid down your mortgage where you have 20% equity in your home you may want to refinance with us to remove this MI. This can save you as much as $200-$400 a month in some cases. 

Cashing out Equity:

Most homeowners choose to do a “cash-out” refinance to allow for growth. College or home improvements are two of the biggest reasons you may choose this option. Remodeling your home can typically lead to increased value of your home, while paying for a loved one’s college can give them a great start in their life. 

2021 Conforming Loan Limits in California:

Here are the 2021 Conforming limits for all 58 counties in California. “One-Unit” refers to a property with one structure (ie a Single Family Residence – SFR, condo, townhouse, PUD.), “Two-Unit” is a Duplex, etc. Higher loan limits allows more people to qualify for the best available mortgage rates. The Federal Housing Finance Agency (FHFA) updates their conforming loan limits every year.

County State One-Unit Two-Unit Three-Unit Four-Unit
ALAMEDA CA  $822,375  $1,053,000  $1,272,750  $1,581,750
ALPINE CA  $548,250  $702,000  $848,500  $1,054,500
AMADOR CA  $548,250  $702,000  $848,500  $1,054,500
BUTTE CA  $548,250  $702,000  $848,500  $1,054,500
CALAVERAS CA  $548,250  $702,000  $848,500  $1,054,500
COLUSA CA  $548,250  $702,000  $848,500  $1,054,500
CONTRA COSTA CA  $822,375  $1,053,000  $1,272,750  $1,581,750
DEL NORTE CA  $548,250  $702,000  $848,500  $1,054,500
EL DORADO CA  $598,000  $765,550  $925,350  $1,150,000
FRESNO CA  $548,250  $702,000  $848,500  $1,054,500
GLENN CA  $548,250  $702,000  $848,500  $1,054,500
HUMBOLDT CA  $548,250  $702,000  $848,500  $1,054,500
IMPERIAL CA  $548,250  $702,000  $848,500  $1,054,500
INYO CA  $548,250  $702,000  $848,500  $1,054,500
KERN CA  $548,250  $702,000  $848,500  $1,054,500
KINGS CA  $548,250  $702,000  $848,500  $1,054,500
LAKE CA  $548,250  $702,000  $848,500  $1,054,500
LASSEN CA  $548,250  $702,000  $848,500  $1,054,500
LOS ANGELES CA  $822,375  $1,053,000  $1,272,750  $1,581,750
MADERA CA  $548,250  $702,000  $848,500  $1,054,500
MARIN CA  $822,375  $1,053,000  $1,272,750  $1,581,750
MARIPOSA CA  $548,250  $702,000  $848,500  $1,054,500
MENDOCINO CA  $548,250  $702,000  $1,272,750  $1054,500
MERCED CA  $548,250  $702,000  $848,500  $1,054,500
MODOC CA  $548,250  $702,000  $848,500  $1,054,500
MONO CA  $548,250  $702,000  $848,500  $1,054,500
MONTEREY CA  $739,450  $946,650  $1,144,250  $1,422,050
NAPA CA  $816,500  $1,045,250  $1,263,500  $1,570,200
NEVADA CA  $548,250  $702,000  $848,500  $1,054,500
ORANGE CA  $822,375  $1,053,000  $1,272,750  $1,581,750
PLACER CA  $598,000  $765,550  $925,350  $1,150,000
PLUMAS CA  $548,250  $702,000  $848,500  $1,054,500
RIVERSIDE CA  $548,250  $702,000  $848,500  $1,054,500
SACRAMENTO CA  $598,000  $765,550  $925,350  $1,150,000
SAN BENITO CA  $822,375  $1,053,000  $1,272,750  $1,581,750
SAN BERNARDINO CA  $548,250  $702,000  $848,500  $1,054,500
SAN DIEGO CA  $753,250  $964,300  $1,165,600  $1,448,600
SAN FRANCISCO CA  $822,375  $1,053,000  $1,272,750  $1,581,750
SAN JOAQUIN CA  $548,250  $702,000  $848,500  $1,054,500
SAN LUIS OBISPO CA  $701,500  $898,050  $1,085,550  $1,349,050
SAN MATEO CA  $822,375  $1,053,000  $1,272,750  $1,581,750
SANTA BARBARA CA  $660,100  $848,050  $1,021,450  $1,269,450
SANTA CLARA CA  $822,375  $1,053,000  $1,272,750  $1,581,750
SANTA CRUZ CA  $822,375  $1,053,000  $1,272,750  $1,581,750
SHASTA CA  $548,250  $702,000  $848,500  $1,054,500
SIERRA CA  $548,250  $702,000  $ 848,500  $1,054,500
SISKIYOU CA  $548,250  $702,000  $848,500  $1,054,500
SOLANO CA  $550,850  $705,200  $852,400  $1,059,350
SONOMA CA  $707,250  $905,400  $1,094,450  $1,360,100
STANISLAUS CA  $548,250  $702,000  $848,500  $1,054,500
SUTTER CA  $548,250  $702,000  $848,500  $1,054,500
TEHAMA CA  $548,250  $702,000  $848,500  $1,054,500
TRINITY CA  $548,250  $702,000  $848,500  $1,054,500
TULARE CA  $548,250  $702,000  $848,500  $1,054,500
TUOLUMNE CA  $548,250  $702,000  $848,500  $1,054,500
VENTURA CA  $739,450  $946,650  $1,144,250  $1,422,050
YOLO CA  $598,000  $765,550  $925,350  $1,150,000
YUBA CA  $548,250  $702,000  $925,350  $1,150,500

WATSON CAPITAL MORTGAGE INC. 
2950 Buskirk Ave Suite #300
Walnut Creek, Ca 94597
Office: (866) 434-1550
E-Fax: (888) 984-3511
EmailBradwatson@wcmrates.com 
Digital Business Card
CA DRE Broker Lic #01785845
Company NMLS #2061728
CA Corporate License #4638041

Watson Capital Mortgage, Inc. is an independent mortgage brokerage company licensed to originate mortgage loans in the state of Califoria. Watson Capital Mortgage, Inc. supports Equal Housing Opportunity. Terms, interest rates, fees, promotions, and/or products listed above are subject to change or cancelation without notice and may or may not be available at the time of mortgage commitment or at the time of rate lock by either Watson Capital Mortgage or any third party company we work with.

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