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.
What is PMI and why is it required?
Private mortgage insurance PMI is insurance written by a private company that protects the lender from losses in the
event the borrower defaults on the mortgage. Borrowers are required to pay the premium for private mortgage insurance.
Private mortgage insurance limits a lender’s exposure to financial loss resulting from loan default. If you make a down
payment of less than 20%, you are generally required to pay private mortgage insurance.
Are there any fees for a Lock?
zionmortgages.com does not charge a fee for the initial rate lock. The rates posted reflect 30 day pricing and there is
no fee to lock in the posted pricing. If you choose to lock an ARM with an extended lock 90-360 days, your lock will
carry a Non Delivery Fee. If your loan does not close for any reason, you will be charged the Non Delivery Fee, which is
based upon your chosen lock-in period and loan amount.
What is PMI and why is it required?
Private mortgage insurance PMI is insurance written by a private company that protects the lender from losses in the
event the borrower defaults on the mortgage. Borrowers are required to pay the premium for private mortgage insurance.
Private mortgage insurance limits a lender’s exposure to financial loss resulting from loan default. If you make a down
payment of less than 20%, you are generally required to pay private mortgage insurance.
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
Build Your CreditPrequalify today for a new MasterCard that matches your credit profile. Risk Free. Start Now.
Get Pre-Qualified for a Home Loan
Getting pre-qualified for a mortgage before beginning your search will speed up the home buying process. A pre-qualification provides an idea of an affordable mortgage amount. Thus, you avoid touring homes and neighborhoods outside your budget. A pre-qualification letter from a lender does not guarantee a loan. The loan amount is contingent on income, employment, and credit verification.
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. If the government has established your student loan to be in default, it is possible that you are not found to be a qualified applicant for a mortgage loan. However, there are cases the disqualification may be waived provided that you have entered into your repayment negotiations to schedule for the student loan and you have made punctual payments again for the previous year.
2. You should pay any outstanding collection payments prior to filing you application for the mortgage loan.
3. If you are subject to cases that involve child support payments, your payments should be current and caught up. All court ordered judgments should have been paid up to date.
