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.
May I pay additional points to reduce my interest rate?
Yes, you may pay additional points to lower your interest rate. During the application process, you will select
what rate and fees you would like.
What is prepaid interest?
This is the interim interest that accrues on the mortgage loan from the date of the loan closing to the beginning
of the period covered by the first monthly payment. For example, if your closing date is scheduled for April 15,
the first mortgage payment is due June 1. The lender will calculate a per-day interest amount that is collected at
the time of closing. This amount covers the interest accrued from April 15 to May 1 and then your June 1 payment
covers interest from May 1 to June 1.
How long will I be required to have PMI on my loan?
The Homeowner’s Protection Act of 1998 allows borrowers whose loans originated after July 29, 1999, to request cancellation
of PMI at 80% loan to value LTV based on amortization or actual payments if the borrower has a good payment history, if
the borrower provides evidence the property value has not decreased, and certifies there are no subordinate liens on the
property. Borrower paid PMI will be terminated at 78% LTV based on the amortization schedule if the loan is current. If
none of the above is done, PMI will terminate automatically at the midpoint of the loan term.
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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Consolidate Debt
Take Out An Equity Loan To Consolidate Debt or Get Needed Extra Cash – Once you have bought your house, as soon as 6 months or so later, you might be able to take out an equity loan on your home and consolidate any other debt that you might have since your bankruptcy or debt that could not be included in your bankruptcy. Taxes and student loans will not be discharged in a bankruptcy. You may also want to use the extra cash to invest in a business venture or for needed home improvement.
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!
Accrue Equity In Your Home
Accrue Equity In Your Home – If you are just making rent payments, you are throwing your monthly payments away. When you own a home, over time, home values increase and you are working toward owning an asset.
