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.
When will an appraisal be done on my house?
After your loan has been approved and we have reviewed the loan and any additional needed items with you, we will order
the appraisal from a local appraiser. You will pay the appraiser directly for their services.
Veterans Administration VA loans
Veterans Administration VA loans are a good option for Veterans of the Armed Forces that are looking for a mortgage. Any veteran that meets the current qualifications can save a significant amount of money on their home loan. This is great for first time buyers and other veterans, too!
We can help you identify the right kind of VA mortgage to help you realize home ownership. We can also help you find out if you can combine either an FHA or VA loan with other first time home buyers incentives. For instance, the Housing Financing Agency HFA can help first time buyers secure low interest rates and the Mortgage Credit Certificate HCC brings the taxes down to make your mortgage more manageable.
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
Build Your CreditPrequalify today for a new MasterCard that matches your credit profile. Risk Free. Start Now.
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
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 Loans for People with Bad Credit
Though a bankruptcy is certainly a blemish on a credit report, it does not necessarily disqualify a borrower. Recognising that sometimes bad things happen to good people, some select loan officers are becoming more willing to take a calculated risk.
Some lenders use a securing system to determine whether potential buyers are a worthwhile risk. Unfortunately, bankruptcy gives a low rating. However, select lenders are beginning to look beyond the rating and look at the individuals in need.
Because of new options, bankruptcy no longer needs to stand in the way of getting a home loan. With the help of more creative lenders, those who have experienced financial difficulty will have an easier time getting a mortgage.
