Thursday, September 21, 2017

Choose Colusa CA. Lowest Mortgage Rates

What is the debt to Income Ratio?


Colusa CA Home Owners when talking to a Mortgage expert would see them asking Colusa mortgage borrowers about their Debt and monthly payment on that debt. This is a very important of mortgage refinancing process. Your Colusa Mortgage expert would make note of every debt and your monthly payment against them. This monthly payment when put together reflects how much is the monthly outflow of money as compared to the monthly inflow of money. 



Your Colusa CA mortgage expert would pull a credit report and calculate debts against the income showing up on your pay stubs and W-2 to see what is the Debt To Income ratio.  Often referred to as DTI by your mortgage expert. A high DTI means that you are basically getting squeezed out of the income you are making which is a red flag. A lower DTI means that you are managing your finances well.

Call 323-705-3191 Colusa CA expert below to get you the lowest mortgage rate on your refinance.

Current Mortgage rates Colusa CA


                      Product Rate
                  ● 30 year fixed 3.66%
                  ● 15 year fixed 2.94%
                  ● 5/1 ARM 2.99%


How much of a closing cost shall Colusa CA Homeowner pay for refinancing?

As long as Colusa CA Home Owner is refinancing his mortgage as a conventional loan. The closing cost would be in the vicinity of $ 4000 give or take. The median home values in Colusa CA is around $ 334,000. As mentioned give or take. It could be that the cost would be $ 3500 but it will always be in the range of $ 4000 as long as it's a conventional loan be it rate and term or cash out. There are no points or Zero points associated with this cost.

Another interesting this to understand is the Jargon of points. A point is essentially 1% of the Mortgage amount. So if the mortgage borrower has $ 400,000 as 1 point would mean 1% of $ 400,000 that is $ 4000. So what Colusa CA mortgage borrowers need to ask is. What is the closi9ng cost and is there any extra point that is being charged to my loan amount.



If the answer is the cost is around $ 4000 with no or zero points. What that means is it’s just the generic cost and nothing additional being charged to the mortgage borrower.

Contact Colusa CA Mortgage expert to help you compare mortgage rates and get you the lowest rate on your mortgage refinance.



For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower. You can even email at roger@affordable-payment.com

Article by Roger Shanker

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