California mortgage loan : Get a quote now.
Normally a $100,000 loan at 7.50% interest will cost $699.21 per month. But if you refinance your California mortgage loan, it is possible to get a lower interest rate. For example, the same $100,000 mortgage, with a 5.50% interest loan will cost only $567.79 a month, a savings of $131.43 per month or $1,577.11 per year. Or you can change the loan to interest only so that you can buy a better house. For example, for the same $699.21 , with a 5.50% interest only loan, you can afford a mortgage worth $123,147 instead of only $100,000 .
