Current California Mortgage Rates
Quick Mortgage Definitions / Terms / Facts
Is my personal information safe?
Absolutely. Your privacy and security is of the utmost importance to us. After logging into this system, your information
is encrypted so your personal information cannot be accessed or viewed by anyone without the proper privileges. We
maintain the highest level of security and data encryption available throughout your loan process.
How much does mortgage insurance cost?
Your PMI will be based on your down payment and the loan amount. The larger your down payment, the less PMI will cost.
This is paid monthly with your mortgage payment.
What is the 30 Year, 1 Year LIBOR ARM?
This loan product offers a low introductory rate that can adjust every year according to the one-year LIBOR index.
The London Interbank Offered Rate LIBOR index is an average of the interest rates that major international banks
charge each other to borrow U.S. dollars. Interest rate adjustments have a 2.25% margin, an annual 2% adjustment cap,
and an 8% lifetime adjustment cap off the start rate.
What are credit scores?
Your credit score is an indication of your payment habits. There can be mistakes on your credit report. You should make
an effort to correct these mistakes. You can review your credit record by ordering a copy of your credit report.
Steps to Getting a California Mortgage?
Get a Free Credit Report!
The first step to getting a California mortgage is to know your credit score.
Understanding your credit report is a critical part to getting your mortgage.
Raise your score while you shop for your California home to get the lowest rate at closing, with a few easy steps you can easily raise your score in within a few months.
Get your Credit Score
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VA Mortgage Loans versus to FHA Mortgage Loan
VA Loans are almost similar to most typical loans, solely they offer many additional benefits reminiscent of: no down cost necessities, decrease qualifying credit scores and mortgage charges will be packaged into the mortgage.
FHA Mortgage Loans are a preferred option amongst many non-veterans. Simple refinancing, more lenient qualifying credit criteria and low down fee requirements attract many people who could not otherwise qualify for a standard mortgage.
Lending Tree Mortgage Calculator
Compare California local and national bank lenders.
California Mortgage Lenders are among some of the most stable and succesful in the country. Now is the time to get a new or refinanced mortgage while CA interest rates are low!
Mortgage Qualification Guidlines
1.For income from a second job to be considered as part of your qualifying income, you have to have a long history of at least two years receiving that second income as part of your toal earnings.
2. If you have been receiving income through child support, you should have been receiving income consistently. You would be required to submit a history of the payments made for the child support. Usually, if your child support status has just been awarded recently, it might not be considered as a qualifying source of income.
3. It is not advisable to apply for a mortgage loan while being involved in a lawsuit or any legal matter. You should prospone your application until that legal matter is settled and resolved before you could apply for a mortgage loan.
