If you live in California and need a mortgage refinance loan, chances are there are lots of mortgage loan companies that can help you with your refinance request assuming that you have good to excellent credit.
About Credit Scores
Your credit score is number between 300 to 850 with 300 being the lowest and 850 being the best of the best. If your credit score is below 600, lenders will be hesistant to offer you any loan or line of credit. If they do, be prepared to pay a high interest rate and miscellaneous other fees. In addition, recent foreclosures has resulted in lenders pulling back on subprime mortgage loans, meaning that people with bad credit will have an even harder time over the next few years in getting loans.
What happens when you have a 600 credit score of slightly above and need to refinance?
If your credit score is 600 or slightly above, some lenders will consider your credit to be fair or even good, depending on the lender. The best way to approach your refinance is to shop around for the best lender rates. Shopping around doesn't mean that you need to spend money. Infact, alot of reputable companies will give you free refinance quotes at no cost.
Shopping for a refinance loan with you have a 600 credit score.
1. The goal of your shopping expedition should be to get at least three to four quotes on your refinance offer. This allows you to compare different rates and mortgage loan terms.
2. Make sure you understand the details of each mortgage loan. The type of loan (fixed, adjustable, etc), points, interest rate, prepayment penalties, etc.
3. Pick the right loan for you. Don't be pressured to choose a loan that does not make sense to you. Choose the best option for your situation.
Research California Refinance Loan Quotes at http://www.pioneerlenders.com, which specializes in California refinance loans. Other loans offered by http://www.pioneerlenders.com, include debt consolidation loans, unsecured personal loans and student loans.