California Mortgage Rates

May 30, 2015 06:26 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.

30yearFixed Rates as low as

Interest Rate
3.500%
APR
3.685%
Monthly Payment
$898
Smartmortgage.com
Interest Rate
3.500%
APR
3.685%
Monthly Payment
$898
(866) 534-0536 Contact
Smartmortgage.com
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 $898
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $898
Lender Fees $4,913
Lender Credit $0
Total Closing Fees* $4,913
*Other 3rd party fees may apply
Smartmortgage.com
Email Lender

About the Lender

We are a true direct lender which means we service our own loans and manage your entire experience from beginning to end. We are not a call center which means you will work with one of our licensed loan officers with an average of 10+ years of experience. We provide an innovation based mortgage process to deliver unparalleled customer service. Go beyond the sea of mortgage quotes and ask for your detailed, interactive report with options you may not have heard of including zero PMI with less than 20% down. We encourage our clients to consider their options carefully and help to ensure you select the right product for your financial future.- Mortgage Banker with an A+ Rating from the Better Business Bureau- A division of Cornerstone Mortgage, Inc., in business since 1995- Conventional, HARP, FHA, VA, USDA and Jumbo/Super Jumbo loans- On time closing guarantee in as little as 14 days from application- 5 star service guarantee- Daily updates for all clients in process- Exclusive tools for purchase clients- 203k FHA renovation financing
Smartmortgage.com
Email Lender Write a Review

Lender Reviews

A Trusted & Valued Strategic Partner

Yes, I recommend this lender

From the beginning of 2014 Mark Anderson and the Cornerstone Mortgage team have assisted three of my buyer clients to secure the loans needed to purchase new homes. Each of these clients had specific goals and specific needs in purchasing their respective homes. Cornerstone and Mark's team were able to work with each buyer and meet those needs and goals. Consistent and open communication, good listening and planning, and attention to detail are all factors that set Mark and the Cornerstone team apart form the competition. I look forward to working with Mark for a long time and know that when I refer my clients to his team and Cornerstone, that they are always in great hands.

By: SWCirca (St. Louis MO.)

A++

Yes, I recommend this lender

Working with Mark Anderson is a great experience. As a first time buyer just starting to explore purchasing my first home Mark took the time to educate me and guide me through various financing options, carefully explaining the pro's and cons of each. His communication is fast and honest. I highly recommend Smart Mortgage, and in particular Mark Anderson, for your lending needs.

By: IA02 (St Louis, MO)

Cornerstone Mortgage for Life

Yes, I recommend this lender

Professional, responsive and timely, these attributes were essential at closing and structuring a deal that made financial sense. Top notch lender with A++ recommendation.

By: SkyPilot101 (Saint Louis Mo)
See All Reviews
HomePlus Mortgage
Interest Rate
3.625%
APR
3.693%
Monthly Payment
$913
(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 $913
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $913
Lender Fees $1,675
Lender Credit $0
Total Closing Fees* $1,675
*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

Great Service

Yes, I recommend this lender

We were looking to refinance and wanted to make sure we got the best rate we could. We called around a lot and when we came across HomePlus Mortgage and talked to John Vitale we knew that this is who we wanted to work with. The rates were unbeatable and the service was even better. We always felt like we were kept in the loop and that John was really looking out for us. I would highly recommend HomePlus Mortgage and especially John Vitale. Our overall experience really made us rethink our views on how hard and painful the process of refinancing is. Thanks again John Vitale.

By: happilyrefinanced (whittier, ca)

Great Experience

Yes, I recommend this lender

After checking reviews and rates we decided to re-fi with HomePlus Mortgage and contacted John Vitale. John was responsive and offered a great variety of options for us. Even when our plans changed he still found a product that worked well for our situation. The process was smooth and every representative we dealt with was professional and efficient. I would definitely recommend John and HomePlus to anyone.

By: GwenN (San Diego, CA)

Refinance Experience

Yes, I recommend this lender

Working with Carl Snyder at Home Plus Mortgage was the best home financing experience we've ever had. Not only was Carl and his team able to get us closed in 30 days - the process and time commitment required on our end was minimal compared to what we'd experienced in the past. If you need home financing of any type, I would HIGHLY recommend Carl Snyder and Home Plus Mortgage.

By: Mark (Marina, Ca)
See All Reviews

15yearFixed Rates as low as

Interest Rate
2.625%
APR
2.904%
Monthly Payment
$1,345
Smartmortgage.com
Interest Rate
2.625%
APR
2.904%
Monthly Payment
$1,345
(866) 534-0536 Contact
Smartmortgage.com
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 $1,345
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,345
Lender Fees $4,271
Lender Credit $0
Total Closing Fees* $4,271
*Other 3rd party fees may apply
Smartmortgage.com
Email Lender

About the Lender

We are a true direct lender which means we service our own loans and manage your entire experience from beginning to end. We are not a call center which means you will work with one of our licensed loan officers with an average of 10+ years of experience. We provide an innovation based mortgage process to deliver unparalleled customer service. Go beyond the sea of mortgage quotes and ask for your detailed, interactive report with options you may not have heard of including zero PMI with less than 20% down. We encourage our clients to consider their options carefully and help to ensure you select the right product for your financial future.- Mortgage Banker with an A+ Rating from the Better Business Bureau- A division of Cornerstone Mortgage, Inc., in business since 1995- Conventional, HARP, FHA, VA, USDA and Jumbo/Super Jumbo loans- On time closing guarantee in as little as 14 days from application- 5 star service guarantee- Daily updates for all clients in process- Exclusive tools for purchase clients- 203k FHA renovation financing
Smartmortgage.com
Email Lender Write a Review

Lender Reviews

A Trusted & Valued Strategic Partner

Yes, I recommend this lender

From the beginning of 2014 Mark Anderson and the Cornerstone Mortgage team have assisted three of my buyer clients to secure the loans needed to purchase new homes. Each of these clients had specific goals and specific needs in purchasing their respective homes. Cornerstone and Mark's team were able to work with each buyer and meet those needs and goals. Consistent and open communication, good listening and planning, and attention to detail are all factors that set Mark and the Cornerstone team apart form the competition. I look forward to working with Mark for a long time and know that when I refer my clients to his team and Cornerstone, that they are always in great hands.

By: SWCirca (St. Louis MO.)

A++

Yes, I recommend this lender

Working with Mark Anderson is a great experience. As a first time buyer just starting to explore purchasing my first home Mark took the time to educate me and guide me through various financing options, carefully explaining the pro's and cons of each. His communication is fast and honest. I highly recommend Smart Mortgage, and in particular Mark Anderson, for your lending needs.

By: IA02 (St Louis, MO)

Cornerstone Mortgage for Life

Yes, I recommend this lender

Professional, responsive and timely, these attributes were essential at closing and structuring a deal that made financial sense. Top notch lender with A++ recommendation.

By: SkyPilot101 (Saint Louis Mo)
See All Reviews
HomePlus Mortgage
Interest Rate
2.750%
APR
2.906%
Monthly Payment
$1,358
(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 $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $2,175
Lender Credit $0
Total Closing Fees* $2,175
*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

Great Service

Yes, I recommend this lender

We were looking to refinance and wanted to make sure we got the best rate we could. We called around a lot and when we came across HomePlus Mortgage and talked to John Vitale we knew that this is who we wanted to work with. The rates were unbeatable and the service was even better. We always felt like we were kept in the loop and that John was really looking out for us. I would highly recommend HomePlus Mortgage and especially John Vitale. Our overall experience really made us rethink our views on how hard and painful the process of refinancing is. Thanks again John Vitale.

By: happilyrefinanced (whittier, ca)

Great Experience

Yes, I recommend this lender

After checking reviews and rates we decided to re-fi with HomePlus Mortgage and contacted John Vitale. John was responsive and offered a great variety of options for us. Even when our plans changed he still found a product that worked well for our situation. The process was smooth and every representative we dealt with was professional and efficient. I would definitely recommend John and HomePlus to anyone.

By: GwenN (San Diego, CA)

Refinance Experience

Yes, I recommend this lender

Working with Carl Snyder at Home Plus Mortgage was the best home financing experience we've ever had. Not only was Carl and his team able to get us closed in 30 days - the process and time commitment required on our end was minimal compared to what we'd experienced in the past. If you need home financing of any type, I would HIGHLY recommend Carl Snyder and Home Plus Mortgage.

By: Mark (Marina, Ca)
See All Reviews

5yearARM Rates as low as

Interest Rate
2.625%
APR
2.719%
Monthly Payment
$803
Smartmortgage.com
Interest Rate
2.625%
APR
2.719%
Monthly Payment
$803
(866) 534-0536 Contact
Smartmortgage.com
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 $803
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $803
Lender Fees $2,845
Lender Credit $0
Total Closing Fees* $2,845
*Other 3rd party fees may apply
Smartmortgage.com
Email Lender

About the Lender

We are a true direct lender which means we service our own loans and manage your entire experience from beginning to end. We are not a call center which means you will work with one of our licensed loan officers with an average of 10+ years of experience. We provide an innovation based mortgage process to deliver unparalleled customer service. Go beyond the sea of mortgage quotes and ask for your detailed, interactive report with options you may not have heard of including zero PMI with less than 20% down. We encourage our clients to consider their options carefully and help to ensure you select the right product for your financial future.- Mortgage Banker with an A+ Rating from the Better Business Bureau- A division of Cornerstone Mortgage, Inc., in business since 1995- Conventional, HARP, FHA, VA, USDA and Jumbo/Super Jumbo loans- On time closing guarantee in as little as 14 days from application- 5 star service guarantee- Daily updates for all clients in process- Exclusive tools for purchase clients- 203k FHA renovation financing
Smartmortgage.com
Email Lender Write a Review

Lender Reviews

A Trusted & Valued Strategic Partner

Yes, I recommend this lender

From the beginning of 2014 Mark Anderson and the Cornerstone Mortgage team have assisted three of my buyer clients to secure the loans needed to purchase new homes. Each of these clients had specific goals and specific needs in purchasing their respective homes. Cornerstone and Mark's team were able to work with each buyer and meet those needs and goals. Consistent and open communication, good listening and planning, and attention to detail are all factors that set Mark and the Cornerstone team apart form the competition. I look forward to working with Mark for a long time and know that when I refer my clients to his team and Cornerstone, that they are always in great hands.

By: SWCirca (St. Louis MO.)

A++

Yes, I recommend this lender

Working with Mark Anderson is a great experience. As a first time buyer just starting to explore purchasing my first home Mark took the time to educate me and guide me through various financing options, carefully explaining the pro's and cons of each. His communication is fast and honest. I highly recommend Smart Mortgage, and in particular Mark Anderson, for your lending needs.

By: IA02 (St Louis, MO)

Cornerstone Mortgage for Life

Yes, I recommend this lender

Professional, responsive and timely, these attributes were essential at closing and structuring a deal that made financial sense. Top notch lender with A++ recommendation.

By: SkyPilot101 (Saint Louis Mo)
See All Reviews
Sebonic Financial
Interest Rate
2.625%
APR
2.953%
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 $1,790
Lender Credit $0
Total Closing Fees* $1,790
*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
Email Lender Write a Review

Lender Reviews

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)

Delays, Delays, Delays

It took over 2 months to close after providing all of the paperwork within 1 day of request. Of course there was only a 30 day lock, so they milked another 4 weeks of extension fees out of me. I complained about their tactics and got all but one week of fees reduced. At this time I just wanted to end my misery, so I took their offer just to get rid of them. Very poor business ethics and practices.

By: Delays (Upper Peninsula Michigan)
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.