• Home
  • About
    • About
    • Living in Oakhurst
  • Purchase
  • Refinance
  • Loan Options
    • Loan Options
    • VA
    • FHA
    • Conventional
    • Jumbo
    • USDA
    • 2nd Mortgages and HELOC's
    • Construction
    • Bank Statement
    • Rehab/Renovation
    • Non QM Options
  • Resources
    • Resources
    • Mortgage Calculator
    • Search Homes For Sale
    • Home Purchase Qualifier
    • Home Value Estimate
    • Refinance Analysis
  • Blog
  • Contact
  • Apply Now
 
 
Join Our Team!
Book Your Free Consultation
Mortgage Calculator

Mortgage Broker Oakhurst CA | Home Loans | Granite West Funding

If you are looking for a competitive loan for home purchase, refinance or construction in Oakhurst or anywhere in the state of California, Granite West Funding can connect you with a loan suitable for your needs.

Call Us Today! 559-540-2275
  • About
    • About
    • Living in Oakhurst
  • Purchase
  • Refinance
  • Loan Options
    • Loan Options
    • VA
    • FHA
    • Conventional
    • Jumbo
    • USDA
    • 2nd Mortgages & HELOC’s
    • Construction
    • Bank Statement
    • Rehab/Renovation
    • Non QM Options
  • Resources
    • Resources
    • Mortgage Calculator
    • Search Homes For Sale
    • Home Purchase Qualifier
    • Home Value Estimate
    • Refinance Analysis
  • Blog
  • Contact
  • About
    • About
    • Living in Oakhurst
  • Purchase
  • Refinance
  • Loan Options
    • Loan Options
    • VA
    • FHA
    • Conventional
    • Jumbo
    • USDA
    • 2nd Mortgages & HELOC’s
    • Construction
    • Bank Statement
    • Rehab/Renovation
    • Non QM Options
  • Resources
    • Resources
    • Mortgage Calculator
    • Search Homes For Sale
    • Home Purchase Qualifier
    • Home Value Estimate
    • Refinance Analysis
  • Blog
  • Contact
You are here: Home / Refinance / Debunking the Myths About Refinancing

Debunking the Myths About Refinancing

December 4, 2020 by Granite West Funding

Mortgage Refinancing Tips in Oakhurst California

If you’re looking at acquiring a home refinancing loan in central California’s San Joaquin Valley, you’ll probably be shocked to learn that there’s a lot of misinformation out there.  Consequently, it’s important to know what you can expect when you’re refinancing your home. 

Get the Correct Facts on Refinance

Furthermore, when it comes to home refinancing, the internet is rife with a lot of bad information.  Here are the 10 most common myths to be aware of:

  • If you have a mortgage, you’ll automatically qualify for a refinance loan – FALSE.  Just because you’re making on-time payments on your current mortgage, it doesn’t mean that you’ll qualify automatically.  You still need to fill out an application and meet the current qualification criteria.
  • It’s difficult to get refinanced in these current economic times – FALSE.  It’s just as easy to refinance your home as it is to applying for a personal loan.  All you need to do is speak with a lender and provide them with the information they as for.
  • It’s is easier to refinance with the lender you are currently paying – FALSE.  Most loan servicers do not originate refinances, and those that do, are held to the same documentation and guideline requirements as all other lenders.
  • Qualifying for a refinance loan is very difficult – FALSE.  Actually, it’s relatively easy to qualify.  All you need to do is talk to a lender and find out.
  • Refinancing only applies to home loan debt – FALSE.  You can pay off any type of debt with a refinancing loan that you choose including credit card debt, outstanding bills, and personal loans.
  • There’s no fees with a refinance loan – FALSE.  Unfortunately, you are required to pay closing costs of approximately 2 to 5% of the principal.
  • You don’t need to do any comparison shopping of lenders – FALSE.  Get quotes from several lenders.  This ensures getting the best interest rate.
  • You have to pay for your closing costs up front – FALSE.  You can roll your closing costs into the loan.
  • You must apply for the same terms as your current mortgage – FALSE.  You can refinance to a 15-year from a 30-year mortgage.  It just depends on you. You need to look at your requirements and refinance accordingly.
  • You only save money if the interest rate drops dramatically – FALSE.  In the long run, refinancing your home to a lower interest is going to save you money.  The interest rate doesn’t have to be that much lower to benefit financially.

Consult with Refinancing Professionals in Oakhurst California Today

If you’re looking to refinance your home, contact Granite West Funding and speak with a representative today. We are here to help you get the best rates and terms on your refinance requirements. Call us at 559-540-2275 and talk with our experts today.

Filed Under: Refinance Tagged With: California, Mortgage Refinancing Tips, Oakhurst

Get Pre-Approved Today

Connecting You With
Your Next Home Loan
in California.

Today's Mortgage Rates!

Popular Blogs

  • 5 Signs That Indicate It’s Time To Purchase Investment Properties

    5 Signs That Indicate It’s Time To Purchase Investment Properties

  • How Do Investment Mortgage Brokers Differ From Regular Ones?

    How Do Investment Mortgage Brokers Differ From Regular Ones?

  • 5 Benefits of working with a Real Estate Broker when buying Investment Property

    5 Benefits of working with a Real Estate Broker when buying Investment Property

  • How To Find the Best Mortgage Lender for your Loan

    How To Find the Best Mortgage Lender for your Loan

  • 5 Helpful Tips for finding Investment Properties

    5 Helpful Tips for finding Investment Properties

Let's Connect

FacebookTwitterLinkedinYoutubeInstagram

Navigation

  • About
  • Living In Oakhurst
  • Purchase
  • Refinance
  • Blog
  • Contact
  • Apply Now

Loan Options

  • VA Loans
  • FHA Loans
  • Conventional Loans
  • Jumbo Loans
  • USDA Loans
  • Construction Loans
  • Bank Statement Loans
  • 2nd Mortgage/HELOCs
  • Rehab/Renovation Loans
  • Non QM Options

Resources

  • Mortgage Calculator
  • Search Homes For Sale
  • Home Purchase Qualifier
  • Home Value Estimate
  • Refinance Analysis

Contact

  • Granite West Funding, LLC
  • A | 40879 CA-41 #1a
    Oakhurst, CA 93644
  • P | 559-540-2275
  • E | andrew@granitewestfunding.com
  • E | eric@granitewestfunding.com
  • E | jesse@granitewestfunding.com
  • NMLS 200726
  • Find us on Google
FacebookTwitterLinkedinYoutubeInstagram
Granite West Funding, LLC

Copyright © Granite West Funding, LLC All Rights Reserved.
Terms of Use | Privacy Policy


Equal Housing Lender

Granite West Funding, LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

Copyright © 2023 · granite on Genesis Framework · WordPress · Log in