California Mortgage Rates

August 24, 2016 07:10 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.

30 Year Fixed

Interest Rate
3.000%
APR
3.098%
Monthly Payment
$844
HomePlus Mortgage
30 Year Fixed
Interest Rate
3.000%
APR
3.098%
Monthly Payment
$844
(844) 329-3212 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 $844
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $844
Lender Fees $2,495
Lender Credit $0
Total Closing Fees* $2,495
*Other 3rd party fees may apply
HomePlus Mortgage
Email Lender

About the Lender

Mission Statement: To provide our customers with the highest level of customer service and the most competitive mortgage rate and terms. 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. We are eagerly waiting to hear from you.
HomePlus Mortgage
Email Lender Write a Review

Lender Reviews

True professional, outstanding service!

Yes, I recommend this lender

This review has been long overdue. Chris was exceedingly helpful during our home purchase and throughout our mortgage process. Not only did he have some of the best rates, but also the best customer service. Everything was clean, easy, and on time, and Chris helped us throughout the whole process. I would highly recommend him to anyone and will call him in the future for any mortgage needs.

By: Aaron (San Marcos, CA)

Refinance

Yes, I recommend this lender

I would highly recommend HomePlus Mortgage to anyone looking to refinance their home.

By: Irma (Shingle Springs, CA)

Refinance

Yes, I recommend this lender

It was a pleasure working with Gary Reisdorf. He made the process easy and was available whenever I had a question. I would highly recommend him to anyone looking to refinance their home.

By: Irma (Shingle Springs, CA)
See All Reviews

15 Year Fixed

Interest Rate
2.250%
APR
2.405%
Monthly Payment
$1,311
HomePlus Mortgage
15 Year Fixed
Interest Rate
2.250%
APR
2.405%
Monthly Payment
$1,311
(844) 329-3212 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 $1,311
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,311
Lender Fees $2,183
Lender Credit $0
Total Closing Fees* $2,183
*Other 3rd party fees may apply
HomePlus Mortgage
Email Lender

About the Lender

Mission Statement: To provide our customers with the highest level of customer service and the most competitive mortgage rate and terms. 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. We are eagerly waiting to hear from you.
HomePlus Mortgage
Email Lender Write a Review

Lender Reviews

True professional, outstanding service!

Yes, I recommend this lender

This review has been long overdue. Chris was exceedingly helpful during our home purchase and throughout our mortgage process. Not only did he have some of the best rates, but also the best customer service. Everything was clean, easy, and on time, and Chris helped us throughout the whole process. I would highly recommend him to anyone and will call him in the future for any mortgage needs.

By: Aaron (San Marcos, CA)

Refinance

Yes, I recommend this lender

I would highly recommend HomePlus Mortgage to anyone looking to refinance their home.

By: Irma (Shingle Springs, CA)

Refinance

Yes, I recommend this lender

It was a pleasure working with Gary Reisdorf. He made the process easy and was available whenever I had a question. I would highly recommend him to anyone looking to refinance their home.

By: Irma (Shingle Springs, CA)
See All Reviews

5/1 ARM

Interest Rate
2.375%
APR
3.325%
Monthly Payment
$778
HomePlus Mortgage
5/1 ARM
Interest Rate
2.375%
APR
3.325%
Monthly Payment
$778
(844) 329-3212 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 $778
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $778
Lender Fees $995
Lender Credit $0
Total Closing Fees* $995
*Other 3rd party fees may apply
HomePlus Mortgage
Email Lender

About the Lender

Mission Statement: To provide our customers with the highest level of customer service and the most competitive mortgage rate and terms. 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. We are eagerly waiting to hear from you.
HomePlus Mortgage
Email Lender Write a Review

Lender Reviews

True professional, outstanding service!

Yes, I recommend this lender

This review has been long overdue. Chris was exceedingly helpful during our home purchase and throughout our mortgage process. Not only did he have some of the best rates, but also the best customer service. Everything was clean, easy, and on time, and Chris helped us throughout the whole process. I would highly recommend him to anyone and will call him in the future for any mortgage needs.

By: Aaron (San Marcos, CA)

Refinance

Yes, I recommend this lender

I would highly recommend HomePlus Mortgage to anyone looking to refinance their home.

By: Irma (Shingle Springs, CA)

Refinance

Yes, I recommend this lender

It was a pleasure working with Gary Reisdorf. He made the process easy and was available whenever I had a question. I would highly recommend him to anyone looking to refinance their home.

By: Irma (Shingle Springs, CA)
See All Reviews
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.

Mortgage Rate Trends

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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.