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Mortgage Refinancing Help
: Business: Financial Services: Venture Capital: Regional: North America: United States
: California (14)
 Get your interest rate and closing costs in writing as soon as you decide on a lender to work with. Get your lender to give you a commitment in advance of all of the costs that will be involved with your loan. Find out if the refinance loan you are getting has a pre-payment penalty as well. Sometimes lenders will leave out important information like this, if they think it might scare you away from refinancing with them.
 Altos Ventures »
Focus: seed and early-stage Northern California ventures involving e-commerce and software, networking and communications.
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 Venture Catalyst »
Incubator focused on San Diego and Southern California.
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 Santa Barbara Technology Incubator »
Focus: finances, incubates and launches high-technology start-ups.
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 Ventana »
Investment focus: Southern California startup and early-stage companies in high technology, biopharmaceutical, environmental and Internet related businesses.
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 Mission Ventures »
Investment focus: Southern California early-stage information technology, healthcare and service companies.
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 Constellation Ventures »
Focus: early to mid-stage companies that capitalize on the convergence of media, communications and technology, and primarily located near Los Angeles or New York City.
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 VenGlobal Capital Fund, L.P. »
Investment focus: early-stage Silicon Valley companies involving software and communications.
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 Fulcrum Capital Group LLC »
Focus: Minority entrepreneurs in light manufacturing, communications and consumer services in Southern California urban areas. Includes investment approach and online proposal submission.
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 Windward Ventures »
Investment focus: early-stage high growth companies located principally in San Diego and Southern California.
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 Versant Ventures »
Focus: expertise and capital focused exclusively on healthcare.
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 Rustic Canyon Group »
Focus: Technology companies in the West Coast and primarily in California. Information about funding requirements, portfolio and news.
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 Vintage Capital Group »
Focus: ownership positions in small to middle market private or public companies with good enterprise value and growth potential.
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 Zone Ventures »
Investment focus: young Southern California information technology businesses with enormous market potential.
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 Charter Life Sciences »
Investment focus: early-stage, late-stage and expansion financing for life sciences companies.
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 Be Ready. After your loan is approved, you'll need to sign your loan documents and provide a check for any out-of-pocket closing costs. Make sure the funds are available in your account, and be ready to make room in your schedule to read and sign your loan documents as soon as possible.
It is feasible to go for a refinance when you have built up at least 10% equity in your home (For Fannie Mae owned mortgages, the value is 5%). It is also possible for you to choose the option if your equity is less than 5%, but you may have to pay a certain amount of cash in order to make up for the difference in equity.
If there are only a few years left on your current loan, it's no use refinancing with a long term loan. You may need extra cash but with a long term loan, you'll end up paying more for the entire loan term.
Changing the term of your mortgage can help in several ways. First, if you were to refinance your current mortgage from 30 years to 15 years, you will accelerate the rate at which you pay towards principle each month meaning your house will be paid off quicker. Also, you will save an unbelievable amount of money in terms of interest because you would likely be taking 10 to 15 years off the life of your loan. Second, you can also refinance a 15 year mortgage to a 30 year mortgage. It seems like it might not make sense to do this, but if you have an immediate need to free up monthly cash-flow and you don't want to take out a home equity loan, this can work out to your benefit. When you take a 15 year loan and refinance it to 30 years you will have the same balance only the payments can be hundreds of dollars less than the 15 year loan. The only draw back to this is you will pay more in interest over the live of the loan.
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