Mortgage calculation

This 15,800- square-foot house, described as similar to a Tuscan villa, is on 40 acres near El Dorado Hills.

At $9.2 million, this may be the highest-priced residential real estate listing ever seen in Sacramento.

Folsom agent Fred Wilcox is marketing a nearly completed 15,800-square-foot house on 40 acres off Salmon Falls Road by Folsom Lake near El Dorado Hills.

“I think this is the most expensive ever in the region,” he says. “If you win the lottery, this might be the house you want to buy.”

Among the home’s amenities: 10 bedrooms, 10 baths; a 1,400-square-foot gatehouse with two bedrooms and two baths; and an orchard with 80 fruit trees.

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If the urge to refinance your mortgage has come over you, you’re not alone. Millions of homeowners have cut their interest rates, monthly payments and will save thousands of dollars over the life of their loans.

Or so they think. The truth is that for at least some of those people, refinancing will cost them plenty in the long run. They might select the wrong mortgage for their needs, might not know what options are available, or simply don’t know where to begin.

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In the wake of trouble in the subprime lending market, regulators are cracking down on lenders in an effort to shelter consumers from unnecessary risk. While the rules are meant to protect borrowers, they may wind up making it harder for them to get certain types of mortgages.
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