Did you know that fixed California mortgage rates have dropped again on second mortgages and cash out loan refinancing? Amazingly, California mortgage rates fell to 1-year lows and our lenders recommend locking into a fixed rate for a second mortgage or refinance now while the payments are affordable.

It’s no secret that the housing on the west coast cost more, so getting qualified for low mortgage rates in California make it more affordable.

Learn how to Refinance First & Second Mortgage Loans in California for the best possible terms at the lowest cost.

For a limited time, California second mortgage, FHA loan and mortgage refinancing specials are available for local consumers. A recent MBA article revealed that home loan application volumes have increased in California dramatically this year.

The surge in refinancing is in part because of the enticing interest rate incentives that yield lower monthly payments, but the new federally backed refinance plan has driven interest as well.

The Biden refinance plan was merged with the HARP 3.0 in an effort to help underwater borrowers find a refinance solution no matter what their loan to value may be. Our California lenders also offer loan modifications, FHA refinancing, debt consolidation and credit card refinancing.

Market for Home Refinancing Loans in California

If you have lost equity in your home because of the housing crisis consider the new Obama loan programs. This refinance loan allows borrowers to refinance FHA, Fannie Mae and Freddie Mac loans not greater than $417,000 up to 125% loan to value.

Most economists are forecasting higher rates in 2024 and 2025, so lock into the best California mortgage, while the rates are so appealing and easily accessible.

BD Nationwide was once considered by many to be a premiere California second mortgage lender who specializes in unique home equity loans and high LTV refinance mortgages for borrowers with all types of credit.

We offer a path for consumers to shop lenders and brokers for mortgage restructuring on first and second mortgages, high LTV home equity loans, FHA mortgages and bill consolidation loans for homeowners. Find refinance leaders online and the new California mortgage programs can save you money.

Anyone with credit card debt now has the ability to reduce their monthly payments from $300 – $1,000 a month. Our loan experts strongly recommend considering our second mortgage loans that were created specifically to consolidate debt into a tax deductible simple interest loan.

Do you need a Fixed Rate Mortgage Refinance, with Cash Out for Debt Consolidation?

Cash out second mortgages, loan modification agreements and fixed rate mortgage refinance products have been the most popular home financing tools this year. As the lending guidelines for most banks continue to tighten, we have aligned ourselves with the lenders and mortgage companies that provide the most aggressive refinance loans for debt consolidation, home improvements, fixed rate refinancing and foreclosure prevention.

Homeowners from across the country have been cash out refinancing with second mortgages to get quick access to more cash while often converting their adjustable rate home equity line of credit into a fixed rate loan with a fixed monthly payment. If you utilize Nationwide for lending services you will get access to the best mortgage rates in California.

BD Nationwide will help you find lending companies offering the latest programs for mortgage refinancing, equity lines of credit. Consider the 2nd mortgage payment options include principal and interest or interest only. Our industry niche continues to focus on loan modifications and refinancing for 1st or 2nd second mortgage loans for borrowers with unique situations that have prevented them from qualifying previously with other lenders.

The Mortgage Bankers Association reports a significant increase in 2nd mortgage applications, as many consumers are refinancing credit lines and revolving debts into fixed rate loans.

BD Nationwide provides unique loan quotes for California homeowners each month. At this time we continue to offer a free automated appraisal (AVM) with each qualified second mortgage application. Borrowers can select and lock a fixed or variable interest rate with loans for all types of credit. If you want to lower your monthly payments, then take out a second mortgage that enables you to consolidate credit card debt and refinance additional high rate consumer loans.

Low Mortgage Rates in California

California borrowers continue to finance new pools and other home improvements with second mortgages and credit lines.

Some borrowers have credit score issues, some have debt to income ratio concerns, some have income documentation issues and some first time homebuyers run into obstacles because of limited payment history. These are the types of borrowers we continue to find new loan programs for, because these types of homeowners are common throughout the country.

With the California housing market being unstable what kind of second mortgage is recommended?

If you plan on staying in California, then we recommend a fixed rate refinancing plan. Government mortgage loans have become very aggressive, so consider VA mortgages and FHA home loans because the rates are low and the guidelines are flexible. This will maximize the cash you can access while property values are still at record high levels. If the value drops then at least you have already financed your equity at low rate with fixed interest.

If you aren’t sure whether or not you will remain in the state, then make sure you buy out the pre-payment penalty. This will give you the flexibility to sell your house or refinance as quick as you would like without being penalized financially.

Over the last year, 2nd mortgage loans have assisted thousands of homeowners in eliminating credit card debts, collections and loans that were past due.

The era of historically low interest rates could come to an end at any moment, so you should take advantage of them today! We think you will be interested in the incentives for California mortgage refinancing. A California Second Mortgage can provide you with financial security.

Consolidate Bills and Reduce Monthly Payments with a 2nd Mortgage Loan that features a Fixed Interest Rate with Tax Deductibility
Loan Amount	Current Payments	2nd Mortgage Payment*	Monthly Payment Savings
$30,000	$695	$294	$301
$50,000	$1,145	$490	$655
$80,000	$1,792	$784	$1,008
*This is a sample of refinanced credit debt and assumes interest rate for the 125% second mortgage Loan at 11.25%. Apply Now and find out how much you can save!

Second Mortgage Fee Restrictions for California Residents – CA News

Advocacy groups are pushing for more stringent regulations on non-conforming 2nd mortgages and home equity loans across various platforms. Sub-prime mortgages may come with higher costs compared to “A-paper” loans, as they cater to borrowers deemed riskier by lenders, often due to credit issues. These loans are frequently considered non-conforming due to the absence of credit or a history of credit challenges.

In California, individuals are encountering rejections for 125% second mortgages and sub-prime home equity loans, with the state expressing concerns about their ability to make independent financial decisions. Despite this, the demand for cash-out refinancing remains steady. Some groups advocate for additional legislation, further tightening the provisions of AB 489, potentially making it more challenging for California homeowners to leverage their home equity for loans.

Lynda’s Advice for Getting a Second Mortgage in California

The State of California has some tough restrictions for “High Cost Loans.” The golden state legislators have decided that people shouldn’t be able to offer loans if the interest rate or APR reaches a certain level. Just to give a perspective, California restrictions are a (see lender) lower than 47 other states. So even if you are benefiting from saving hundreds of dollars a month from debt consolidation with a second mortgage, the state will restrict lenders from offering you this loan.

If the APR on a fixed-rate 2nd mortgage is too high for qualification, consider discussing the possibility of qualifying for a home equity line of credit (HELOC) with your loan officer.

Credit lines, being exempt from “high cost” APR restrictions in California, might offer a viable alternative to achieve similar objectives. When opting for a HELOC, aim for an agreement with no pre-payment penalty, allowing flexibility for future refinancing into a fixed-rate loan when favorable APR conditions arise. Additionally, expressing your views to your congressmen can be a proactive step during this process.

Are you prepared to leverage your home equity for debt reduction, home improvements, or a more favorable monthly payment? A California Second Mortgage could provide the solution. Seize the opportunity in this era of low-interest rates with Nationwide Mortgage Loans, the internet’s primary resource for discovering the right refinance package tailored to your lending requirements.

Initiate the journey toward financial freedom by obtaining a quick, no-obligation quote from BD Nationwide today!

Apply for a Second Mortgage California Now!

Tips From The Mortgage Underwriting Pros: “Most underwriters are looking for debt to income ratios to be under 50%. Once you go over 50% either you don’t qualify or you have to pay a premium on your rate. ” FHA Streamline Refinancing is a useful program that reduces the amount of documentation. – Jeff Moran, California Mortgage Broker at Countrywide

Finance Scenario
Identify the right loan for your situation

Get more information and get a Free quote with no obligation. Your home equity line has an adjustable rate that keeps going up. Or, if you’ve maxed out your Line of Credit.

According to the Office of Thrift Supervision: “Federal law preempts the manner in which the California Unfair Competition Act (“California Laws”) have been applied to impermissibly interfere with three aspects of a federal savings association’s lending operations-advertising, the forced placement of hazard insurance, and the imposition of loan-related fees. Although the California Laws are the types of state laws that federal law generally does not preempt, these particular applications of the state laws are preempted because they have more than an incidental effect on lending, and are inconsistent with the objective of allowing a federal savings association to operate in accordance with a uniform federal scheme. The California Laws are not preempted in their entirety, but only to the extent they are used to (i) require a particular form of interest rate disclosure, (ii) limit loan fees, or (iii) limit the choice of hazard insurer or premium charged-three areas of lending that traditionally have been within the exclusive purview of federal law and regulations, and in which state law generally is preempted by federal law.”

Is the Government Still Targeting Home Equity Loan Interest Tax Deduction

Apparently the federal Joint Tax Committee of the U.S. Congress is trying to eliminate interest deductions for home equity loans and equity credit lines. Kenneth Harney reported that our government is trying to raise over $22 $billion in tax revenue between now and 2009.

The Joint Tax Committee panel claims that the tax breaks favor homeowners in higher-end markets, like California, Virginia, and New York, over those in markets with flat or declining prices. Of course this is ridiculous because 2nd mortgages and cash out refinance loans have been fueling the economy for years.

The proposal also would limit tax-free earnings on properties that are rented out for less than 15 days per year to $2,000, raising about $100 million in tax revenue.

We suggest that you let your congress representative know that you do not support our government repealing one of the greatest tax deductions of our generation. Bottom line is that will hurt the economy because studies show that people will stop spending when tax deductions are withdrawn. A recent report indicated that when borrowers stop spending that property values tend to decline.

San Luis Obispo Awarded $1 Million for Affordable Housing

The California Housing Finance Agency’s (CalHFA), Housing Enabled by Local Partnerships (HELP) program has awarded the Housing Authority of the City of San Luis Obispo $1 million in funding for the development of an affordable rental housing project for persons with special needs. This represents one of eight projects, in total, awarded $11 million in low-interest loans to California cities, counties, housing authorities, redevelopment agencies, community development commissions, and other local housing departments to acquire, develop, rehabilitate, or preserve affordable rental or ownership housing.

The HELP program is financed and leveraged by pooling it with the other financial sources of affordable housing funds. The City’s Housing Authority plans to utilize the funds by providing a low interest loan to a developer that will build a 16-unit rental housing complex for persons with mental disabilities. The units will be available for the special needs clients, whose annual household incomes are below $25,920 for complete details please visit calhfa.ca.gov

Take advantage of today’s low rates, and consider a 2nd mortgage that allows you to keep your existing low rate 1st mortgage. Our second mortgage loans will be a loan in addition to the mortgage you already have.

Real Estate Spotlight: Los Angeles, California
Housing affordability in Los Angeles County dropped in October.

According to the California Association of Realtors, only 12% of households could afford the county’s median-priced existing home, then priced at $557,730, in October. For more information, please visit car.org

California’s Highest Median Home Price in 2020/2021

NewPort Beach, California $1,300,000

Los Gatos, California $1,100,000

Santa Barbara, California $1,005,000

Modesto, California $923,000

San Clemente, California $920,000

Dana Point, California $880,000

Santa Monica, California $879,000

San Juan Capistrano, California $879,000

For more information, please visit: census.gov

Home Mortgage Rate Update for California

In a forecast report, the California Association of Mortgage Brokers anticipates jumbo mortgage rates to hover 3 and 4% range in 2012 and 2013. Industry commentators expect conforming and FHA refinance loans to remain in the high 6% range, while second mortgage rates could spike to the 9 or 10% range because of the risk of declining property values across the country. Affordability will continue to be a critical issue for the state, even though prices are expected to stabilize. “It is alarming that the housing affordability crisis will continue, making it difficult for first-time buyers to qualify for adequate financing,” said the association president, John Marcell. CAMB sources are predicting a significant 40-year home mortgage surge. Interest only mortgage loans are becoming very popular because “they offer lower monthly mortgage payments.” According to a recent survey of association members, 60% agree that 30-year fixed-rate loans will become more economical for homebuyers in 2022 and 2023. To learn more please visit www.cmba.com

State Facts

The California Homeownership rate was 55.3% as of 2022.

Get a new home equity loan or refinance your existing second mortgage while the interest rates are still at record lows. Nationwide specializes in second mortgages in California for consolidating credit card debt and loans that have higher interest rates. So your monthly expenses are reduced significantly. This means you will have more money in your pockets rather than the credit card companies. These second mortgage loans were created so people with less than perfect credit, can pay off debts, make home improvements, & in some cases get extra cash.

Before it’s too late Apply Now and lock into a secured lower rate 2nd mortgage & save money with a lower payment. Applying for a mortgage loan in California is simple and takes less than a minute online.

Take a moment and complete our secure form online, and a professional loan officer will contact you promptly with a Free Loan Quote. is no obligation when completing a loan application online. Please note that refinance, 2nd mortgage loan programs and California mortgage rates are subject to change at any time without notice.

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