California Refinancing Options

Borrowers in California have a wide range of mortgage options. There are many loans created to help people purchase, refinance, and consolidate their debts.

Summary of Basic Loans

Here is a basic summary of some of the loans available to California borrowers:

Payment Option Loans

Full documentation
Stated documentation
No ratios
Up to $3 million
Ignore consumer payment lates up to 90% loan to value ratio
Interest Only Loans

These loans offer the borrower the chance to make a lower payment than a regular loan
Interest only options are available for different loan terms, including 5, 10 or even more years
30 Year Fixed Loans

This is the standard mortgage loan
Options now include a 10 year interest only option
Some lenders even offer an interest only options for all thirty years
40 Year Loans

This is a newer loan term that allows borrowers to have a lower monthly payment
50 Year Loans

This is a newer loan term that allows borrowers to have a lower monthly payment
They are often only fixed to 30 years
90 Days No Payment Loans

These loans allow people to not pay their mortgage for 90 days
They often feature minimum payment loan options
No Documentation Loans

Mortgage lates OK
Verbal verification of employment
Cash Out Loans

Very low documentation to 80% of the value of the property
Nearly all other loans allow for cash out