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 do I apply for a mortgage?
You can apply online, by telephone, or by visiting your local branch. When applying online, select the statement that
best describes your situation on the front page. You will walk through the four steps of the application process.
This whole process takes about 15-20 minutes.
What is a Jumbo loan?
A Jumbo loan is any loan amount that is higher than the conforming loan limits set by Fannie Mae and Freddie
Mac--typically a $333,701 loan amount or higher for a single family residence.
Adjustable rate mortgages
Adjustable rate mortgages ARMs are one of the basic types of home loans. ARMs are offered at lower and more appealing rates at the beginning of the term. An adjustable rate mortgage begins with a guaranteed rate that can be locked in anywhere from a month to ten years at a time. The 5/1 ARMs or 7/1 ARMs are common adjustable rate mortgages assumed by borrowers. Another adjustable rate mortgage is the 4 payment option loan. These adjustable rate mortgage types are all typically interest only payments to help the borrower maximize cash flow.
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.
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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.
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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
The significance of having a clean or the slightest a perfect record cannot be over overemphasized when it comes to getting a mortgage loan. However, if you have had some small imperfections in your record, lenders provide considerations such as specified above. Knowing these, you can pretty much estimate if you would be able to qualify for a mortgage loan or not.
