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 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.
What is the difference between the Annual Percentage Rate APR and the interest rate?
The rate reflected on the APR shows the cost of the credit as a yearly rate. This rate is generally higher than the
rate stated on your mortgage note because, in addition to the interest rate, APR includes other costs such as
origination fee, loan discount points, pre-paid interest, and mortgage insurance. The APR allows you to compare, in
addition to the interest rate, the total cost of financing your loan, between various lenders.
What is a good faith estimate?
Required by federal law, the Good Faith Estimate GFE is a written list of the estimated closing costs associated with
your mortgage transaction, including the lenders charges along with the local closing agents charges and fees. It
also includes estimated amounts for real estate property taxes and homeowners 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!
Select a Good First Time Homebuyer Loan Package
Working with a mortgage broker is the best way to locate excellent first time home buying loans. Many first time homebuyers do not have extra cash for closing or down payments. A mortgage broker has access to several lenders that are willing to offer assistance for down payments and closing fees. Furthermore, if you have bad credit, a broker can match you with a bad credit or sub prime mortgage lender. The advantage of working with brokers is that you receive multiple offers. After receiving the loan application, your broker will send you up to four offers from prospective lenders
