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MANY mortgagees in the United States have faced a situation where they are paying a higher interest rate on the mortgage than the rates prevailing in the market at a current time.

This situation arises because interest rates fluctuate on the basis of economic considerations and corresponding decisions of the Federal Reserve Board.

I So, if you took your fixed-interest mortgage loan at an interest rate prevailing at the time, and if interest rates have declined now, you are surely paying more than what you should be paying in the current market scenario.

Though this situation can arise any time, it is not one in which you should feel helpless and continue to pay more. You have the mortgage refinance option. This article provides you with useful information on mortgage refinance in Fairfield, California.


Understanding mortgage refinance

Let us first understand what exactly is mortgage refinance. It is the simple taking of a new loan to pay off your original loan, and then make monthly payments against your new loan.

This new loan is called ‘mortgage refinance’ and it uses the same property as collateral that was pledged against the original loan. How to obtain mortgage refinance in Fairfield: First of all, you should be sure that you will benefit from the refinance. You can do this by using online calculators on the websites of most refinance brokers and lenders.

Brokers are intermediaries between you and the lender. Some of the websites where you can find online calculators are:


To use these calculators, you have input data asked for, such as: the remaining amount from your existing mortgage, the interest rate you are paying on your original loan, the rate at which you wish to pay on the refinance loan, the number of years you want to pay back your refinance loan, the number of years you want to retain the house, etc.

Once the data, which must be known to you, is fed into the system, you will see the different refinance options available to you. It is at this stage you must get in touch with a mortgage refinance broker in Fairfield.


List of lenders in Fairfield

Fairfield has many brokers and lenders; it is therefore not feasible to provide an exhaustive list. However, the following short list (in alphabetical order) can be useful, though in no way are we recommending these lenders to the exclusion of others :

  • CALIFORNIA CAPITAL MORTGAGE, 8099 Ln Plz, Fairfield, CA 94533. Tel: 707-399-9000. URL:
  • CARTER'S REAL ESTATE APPRAISAL, 539 Jackson St, Fairfield, CA 94533. Tel: 707-427-0600
  • SUCCESS ONE FINANCIAL, 2750 N Texas St #110, Fairfield, CA 94533. Tel: 707-429-8300. URL:
  • WASHINGTON MUTUAL - BANK LOCAT, Fairfield, CA 94533. Tel: 707-423-2028. URL:

To conclude, do talk to more than one broker / lender to compare the different options they offer you. Remember that the online calculators provide approximate figures and that the figures provided by brokers are more accurate.