California Mortgage Rates

July 2, 2015 05:25 PM Eastern

Refinance rates now in LOS ANGELES, CA [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

FHA 30 Year Fixed Rates as low as

Interest Rate
3.250%
APR
4.201%
Monthly Payment
$1,005
HomePlus Mortgage
Interest Rate
3.250%
APR
4.201%
Monthly Payment
$1,005
(844) 249-6262 Contact
HomePlus Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $871
Estimated Mortgage Insurance Payments $134
Total Monthly Mortgage Payment $1,005
Lender Fees $5,769
Lender Credit $0
Total Closing Fees* $5,769
*Other 3rd party fees may apply
HomePlus Mortgage
Email Lender

About the Lender

NMLS ID 78669
Mission Statement: At HomePlus Mortgage, our goal is to provide our customers with the highest level of service and the most competitive mortgage loan, using our highly experienced loan officers and our large portfolio of programs. About Us: Our goal is to provide you with the most competitive and convenient mortgage loan. With our large selection of programs, we can often qualify you for a loan even if you have been turned down elsewhere. Our customers interact directly with one highly experienced Loan Officer through the entire process, providing you with the ultimate personalized customer service. We return phone calls and answer questions within hours – even on nights and weekends. Call HomePlus Mortgage today, your experts for purchase, refinance and debt consolidation loans, at 800-810-7587. We are eagerly waiting to hear from you.
HomePlus Mortgage
Email Lender Write a Review

Lender Reviews

Fantastic Experience with John Hamidi

Yes, I recommend this lender

The entire experience with HomePlus Mortgage and John Hamidi went very smoothly. John gave me all the information I needed up front, helped walk me through the paperwork, and was responsive to all of my questions. I did a VA refinance which added some requirements but John was well educated on the VA process and explained everything clearly. I would be happy to refinance with him again.

By: NateH (Riverside, CA)

Homeplus and Chris Ross are absolutely FANTASTIC

Yes, I recommend this lender

He is so thorough with the process and explains each step of the way. The rate lock process can be stressful but Chris does a fantastic job explaining current events and how rates could move. You tell him how often you want to be updated and what method you want those updates and he delivers. Very responsive and totally recommend HomePlus for either purchasing or refinancing your home.

By: pennc (San Diego, CA)

John Hamidi is a real Pro!

Yes, I recommend this lender

John Hamidi made my refinance experience an excellent one. He got me a great rate on a VA Jumbo Loan and he made the whole process much more pleasant than in previous re-fi's that I have done. His team (Mona, his assistant, and Amy, his Escrow Officer partner) are great to work with also. I highly recommend John for any home purchase or re-finance! AndyK

By: AndyK (Los Angeles, CA)
See All Reviews
Smarter Mortgages
Be the first to write a review.
NMLS: 104234
Interest Rate
3.625%
APR
3.789%
Monthly Payment
$912
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 45 Days
Down Payment $50,000
Principal and Interest Payments $912
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $912
Lender Fees $4,000
Lender Credit $1,000
Total Closing Fees* $3,000
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
Email Lender Write a Review

Lender Reviews

Be the first to write a review. See All Reviews

15YearFixed Rates as low as

Interest Rate
2.625%
APR
2.941%
Monthly Payment
$1,345
Smarter Mortgages
Be the first to write a review.
NMLS: 104234
Interest Rate
2.625%
APR
2.941%
Monthly Payment
$1,345
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 45 Days
Down Payment $50,000
Principal and Interest Payments $1,345
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,345
Lender Fees $4,375
Lender Credit $500
Total Closing Fees* $3,875
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
Email Lender Write a Review

Lender Reviews

Be the first to write a review. See All Reviews
HomePlus Mortgage
Interest Rate
3.000%
APR
3.094%
Monthly Payment
$1,382
(844) 249-6262 Contact
HomePlus Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,382
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,382
Lender Fees $1,309
Lender Credit $0
Total Closing Fees* $1,309
*Other 3rd party fees may apply
HomePlus Mortgage
Email Lender

About the Lender

NMLS ID 78669
Mission Statement: At HomePlus Mortgage, our goal is to provide our customers with the highest level of service and the most competitive mortgage loan, using our highly experienced loan officers and our large portfolio of programs. About Us: Our goal is to provide you with the most competitive and convenient mortgage loan. With our large selection of programs, we can often qualify you for a loan even if you have been turned down elsewhere. Our customers interact directly with one highly experienced Loan Officer through the entire process, providing you with the ultimate personalized customer service. We return phone calls and answer questions within hours – even on nights and weekends. Call HomePlus Mortgage today, your experts for purchase, refinance and debt consolidation loans, at 800-810-7587. We are eagerly waiting to hear from you.
HomePlus Mortgage
Email Lender Write a Review

Lender Reviews

Fantastic Experience with John Hamidi

Yes, I recommend this lender

The entire experience with HomePlus Mortgage and John Hamidi went very smoothly. John gave me all the information I needed up front, helped walk me through the paperwork, and was responsive to all of my questions. I did a VA refinance which added some requirements but John was well educated on the VA process and explained everything clearly. I would be happy to refinance with him again.

By: NateH (Riverside, CA)

Homeplus and Chris Ross are absolutely FANTASTIC

Yes, I recommend this lender

He is so thorough with the process and explains each step of the way. The rate lock process can be stressful but Chris does a fantastic job explaining current events and how rates could move. You tell him how often you want to be updated and what method you want those updates and he delivers. Very responsive and totally recommend HomePlus for either purchasing or refinancing your home.

By: pennc (San Diego, CA)

John Hamidi is a real Pro!

Yes, I recommend this lender

John Hamidi made my refinance experience an excellent one. He got me a great rate on a VA Jumbo Loan and he made the whole process much more pleasant than in previous re-fi's that I have done. His team (Mona, his assistant, and Amy, his Escrow Officer partner) are great to work with also. I highly recommend John for any home purchase or re-finance! AndyK

By: AndyK (Los Angeles, CA)
See All Reviews

5YearARM Rates as low as

Interest Rate
2.375%
APR
2.898%
Monthly Payment
$777
Smarter Mortgages
Be the first to write a review.
NMLS: 104234
Interest Rate
2.375%
APR
2.898%
Monthly Payment
$777
(855) 610-2935 Contact
Smarter Mortgages
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 45 Days
Down Payment $50,000
Principal and Interest Payments $777
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $777
Lender Fees $2,375
Lender Credit $500
Total Closing Fees* $1,875
*Other 3rd party fees may apply
Smarter Mortgages
Email Lender

About the Lender

An INC 5000 Company for the Past Four Years! At Smarter Mortgages, we've centralized the entire mortgage process from start to finish. Unlike traditional banks or brokers who must send your applications to several different locations for approval and closing, we have every step located under one roof. This allows us to provide a consistent process, lower costs, and greatly reduce the possibility of errors or delays. Our licensed Mortgage Managers are located beside our entire operations team and have access to our underwriters, loan committee and management team. This is not the industry norm, however, we feel that there must be open and timely communication to ensure quick decisions and one time closings.
Smarter Mortgages
Email Lender Write a Review

Lender Reviews

Be the first to write a review. See All Reviews
Sebonic Financial
Interest Rate
2.625%
APR
3.028%
Monthly Payment
$804
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,928
Lender Credit $0
Total Closing Fees* $2,928
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
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Lender Reviews

FHA Streamline

I initiated a loan with Cardinal/Sebonic in March, 3 months ago. To summarize, I am not at all pleased and feel this company is incredibly slow and at times borderline incompetent. I disclosed a potential credit issue to the loan officer up front and asked that she verify with an underwriter before we proceeded with charging for the appraisal. She checked with a supervisor and was assured there should not be a problem. We then proceeded with the appraisal and on to underwriting. The underwriter would not approve the loan based on the same credit issue that was said to have not been a problem. We then discussed the possibility of doing a non-credit qualifying streamline, however the loan officer stated the FHA seasoning period would be an additional couple of months. I reviewed FHA’s requirements and disagreed, insisting that the loan could proceed and my situation has already met FHA’s seasoning requirements. I elevated the issue to a supervisor who overruled my loan officer’s determination and the loan was allowed to proceed – my takeaway from this is that their loan officers are not well-versed in the products they are selling. My new streamline has been in and out of underwriting at least 3 times that I am aware of – each time the underwriter seems to find a new issue to nitpick – something wasn’t done correctly on the appraisal that they had already reviewed and approved several times prior, a new form needed to be signed, the disclosures were done improperly and instead of not having to bring any money to closing I would need to bring several thousand dollars. In addition, at the beginning of the streamline I was assured that since the underwriter was already familiar with my file we should be able to close in a few weeks – it is now 6 weeks later. My prior loan processor went incognito for several days and only until I again elevated to a supervisor, was my loan re-assigned to someone else. I feel as if I must continuously nag and prompt them to move the loan forward. Due to their consistent lack of meeting deadlines I am now concerned that the loan will not fund before my June payment is due or before my second rate lock expires. It’s no wonder the only way this company can stay in business is that they have the lowest rates. If it weren’t for that single fact, I would have moved on long ago. I they actually close the loan before the end of the month I will elevate my rating, but until then they are a 1-star.

By: Refinance (Shoreline, WA)

New House for a Army Veteran

Yes, I recommend this lender

To Everyone, I want to start off by saying this was my first time buying a house. Due to some disabilities from being in the Army, I never thought I would be able to buy a house. After seeing how low interest rates were with Sebonic/ Cardinal Financial I figured what do I have to lose in trying. With that said, I was informed my 660 score would be enough to qualify me and even if it had dropped to 620, there would be no problem. I was pre qualified for 200k and even a little more if needed. Courtney Burns answered all questions in a very professional response. Now what makes this very exciting for me is the fact that I'm 100% Disabled with VA and not being able to work. This was also due to almost no debt. My agent called and had other questions about how it could really be possible to give such great rates and have no processing fees. Even after call to verify I was continually told that Sebonic by my agent that this was too good to be true and that this was her first time working with an internet finance company and had only worked with local lenders in Asheville NC. (What is kind of funny is the one lender my real estate broker recommended to me pretty much hung up on me when I asked if they would like to match what was given by Sebonic was proposing.) The one thing I would like to mention is that Sebonic does require you to be pro active if you really want to be informed through out the total process. I know there were times Sebonic/ Cardinal wished I would stop calling for updates however; they did comply when asked and there were times I can recall for both Cortney Burns and Wes Putman responded on emails after hours. That made me feel important. Kind of made me feel a little sorry for Wes Putman my final Loan Processor when I saw he was responding around 11pm on a Saturday for one of my questions. There were times I was stressed during the process but who wouldn't for such a big purchase. My agent says she is not going to use them again due to her being left out of the loop and didn't know what was going on. The funny thing is that when we started working with Sebonic, we had both read how there was a big issue with communication on many reviews. We talked about it and the both of us decided that saving between 2k and 3k for processing fees others would charge made it hard not to go with it. We accepted it was worth the pain in making sure we were on target. The part I think my agent forgot is that if she wanted information or had a question she needed to email or call Sebonic. Sebonic didn't really CC her with all the steps going on. They only sent it to me since I was the only one with the information needed. In the end, I was giving updates to my agent on when the close was going to happen. The agent was always playing catchup ........I think it was partly their fault too in that. Lastly, I ended up with a 200k loan at 3.25% rate for 30 year fixed. I know it's going to be one of the best rates I could have ever got. You should know that with that rate, I did not have to pay one penny out of pocket to close on this house. The Seller paid 3% of close or up to 6k. ( VA home buyer please be aware that sellers can pay upto 4% on a VA loan). Well guess what??? It covered all of my inspections...Everything and I mean Everything! Knowing the real cost that could have been out of pocket for me even with a VA loan would have been around 5k. This was a home run for me and to think It's Memorial Day Weekend. What a great weekend to be sitting on my deck cooking out and drinking a beer. Cheers to everyone involved in allowing me to experience owning my first home. Sincerely, Thomas Army Veteran

By: Thomas (Asheville NC)

Wasting my time and MONEY

Talked me into my credit card info without all paperwork. Assured me that Remodeling was not a problem! They charged my credit card for appraisal. then stopped appraisal because of remodeling? Trying to get appraisal money back! Getting a lot of run around and delay? Cannot get supervisor contact info???

By: VERYverydisgruntled (Very dis gruntled)
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Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

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California Mortgage Rates and Loan Options
California is the most populous state in the country, and it is also one of the largest in terms of land mass. Its entire western coast is bordered by the beautiful Pacific Ocean, providing a temperate climate year round for much of the southern part of the state.

Several areas in California have achieved global notoriety, including San Francisco, the financial hub of the West Coast; Napa Valley, home to one of the largest wine regions in the world; and of course Los Angeles and Hollywood, the entertainment capital of the world.

Up and down the coast, residents of California enjoy nature's diversity, from arid desert landscapes to exclusive ocean enclaves, and lush farming regions to sprawling metropolises. Regardless of the area in which you choose to live, you'll find almost limitless possibilities for home choices, loans, and mortgage rates programs in California.

Special California Mortgage Rates, Loans and Down Payment Assistance
The California Housing Finance Authority makes available special programs for first time home buyers and those who have not had ownership interest in a home over the last 3 years.  Eligible applicants have to meet a threshold income level, a maximum loan amount, and a home sale price limit.  In some cases, the programs allow the borrower to:

• purchase a single family home, including a condo, PUD or manufactured home
• receive down payment assistance up to five percent of the purchase price of the home as a second mortgage
• obtain more than a 100 percent combined loan-to-value ratio

The California Department of Housing and Community Development offers more than 200 additional programs to homeowners and buyers including government subsidies, interest free loans, competitive current California mortgage rates, and grants.

Jumbo Loans and CA Mortgage Interest Rates
The FHA insures loans up to $417,000 through its lending partners. These are called conventional conforming loans. Many areas in California are high cost areas and have home values significantly above that threshold limit.  Buyers of these homes have to use financing options other than the FHA.  These loans are called jumbo loans, and are not typically insured through the FHA or other government-backed institutions.  Despite this fact, and because of their popularity, jumbo loans in California are still made available through hundreds of traditional banks and lending institutions. CA mortgage interest rates for jumbo loans vary greatly, so borrowers should shop around.

Due to higher loan values and higher loan payments, qualifying for these loans can be difficult.  Borrowers seeking a jumbo loan should contact their lender and request documentation sheets listing income and credit score requirements. To estimate your future jumbo loan payments, you can use one of many lendingtree.com mortgage calculator tools.