California Mortgage Rates

May 6, 2016 08:29 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
3.250%
APR
3.429%
Monthly Payment
$871
HomePlus Mortgage
30 Year Fixed
Interest Rate
3.250%
APR
3.429%
Monthly Payment
$871
(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 $0
Total Monthly Mortgage Payment $871
Lender Fees $4,445
Lender Credit $0
Total Closing Fees* $4,445
*Other 3rd party fees may apply
HomePlus Mortgage
Email Lender

About the Lender

NMLS ID 78669
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, 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

Jonathan was the broker that helped me refi. He and his team were very professional. I will recommend Jonathan at homeplus mortgage to anyone. They helped me get a great rate and the process was very smooth. Very happy!

By: Ernesto (Pico Rivera, CA)

Thankful for an excellent service!

Yes, I recommend this lender

It was such a pleasure working with Joe Vitiello. He was very informative and was very knowledgeable in his field of work. I felt I was in good hands working with him. The whole process was very easy and quick. I will definitely recommend HomePlus Mortgage to friends and family and will seek Joe Vitiello's assisstance if ever in need of further services. Thank you Joe for all your help!

By: Emily (Beaumont, CA)

John Vitale!!!

Yes, I recommend this lender

I've has the opportunity to refinance with John Vitale at HomePlus Mortgage twice with the past year. When rates drop, John gives me a quick call to discuss market conditions and interest rates. In both instances I have saved money and that's what its all about. John is a straight shooter with no funny tricks. I looking forward to working with John in the future!

By: Drew (San Marcos, CA)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
30 Year Fixed
Interest Rate
3.375%
APR
3.445%
Monthly Payment
$885
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $885
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $885
Lender Fees $1,742
Lender Credit $0
Total Closing Fees* $1,742
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Timely and professional

Yes, I recommend this lender

The process with Consumer Direct was pleasant and timely. Everything was laid out well and they had the best rate available for a 20 year refi. We are very happy with the outcome and would recommend them highly.

By: Stephanie (Post Falls, ID)

A Pleasant Experience

Yes, I recommend this lender

Although I'd initially dreaded the refinancing process and all that goes along with it (mainly gathering and submitting paperwork), I quickly found that Patrick Moore and his team are on top of the process. All my questions were timely answered, and submitting requested documents was super-easy via their online portal. Turns out, it was a pain-free, pleasant experience! I'll refer friends and family to Patrick and his team -- for sure.

By: Donna (Atlanta, GA)

excellent

Yes, I recommend this lender

Wonderful experience. Very impressed on how responsive Gigi and all staff was to help me. Thank you so much.

By: Anne (Norwalk, CT)
See All Reviews

15 Year Fixed

Interest Rate
2.500%
APR
2.729%
Monthly Payment
$1,334
HomePlus Mortgage
15 Year Fixed
Interest Rate
2.500%
APR
2.729%
Monthly Payment
$1,334
(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 $1,334
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,334
Lender Fees $3,195
Lender Credit $0
Total Closing Fees* $3,195
*Other 3rd party fees may apply
HomePlus Mortgage
Email Lender

About the Lender

NMLS ID 78669
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, 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

Jonathan was the broker that helped me refi. He and his team were very professional. I will recommend Jonathan at homeplus mortgage to anyone. They helped me get a great rate and the process was very smooth. Very happy!

By: Ernesto (Pico Rivera, CA)

Thankful for an excellent service!

Yes, I recommend this lender

It was such a pleasure working with Joe Vitiello. He was very informative and was very knowledgeable in his field of work. I felt I was in good hands working with him. The whole process was very easy and quick. I will definitely recommend HomePlus Mortgage to friends and family and will seek Joe Vitiello's assisstance if ever in need of further services. Thank you Joe for all your help!

By: Emily (Beaumont, CA)

John Vitale!!!

Yes, I recommend this lender

I've has the opportunity to refinance with John Vitale at HomePlus Mortgage twice with the past year. When rates drop, John gives me a quick call to discuss market conditions and interest rates. In both instances I have saved money and that's what its all about. John is a straight shooter with no funny tricks. I looking forward to working with John in the future!

By: Drew (San Marcos, CA)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.625%
APR
2.762%
Monthly Payment
$1,346
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $1,346
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,346
Lender Fees $1,916
Lender Credit $0
Total Closing Fees* $1,916
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Timely and professional

Yes, I recommend this lender

The process with Consumer Direct was pleasant and timely. Everything was laid out well and they had the best rate available for a 20 year refi. We are very happy with the outcome and would recommend them highly.

By: Stephanie (Post Falls, ID)

A Pleasant Experience

Yes, I recommend this lender

Although I'd initially dreaded the refinancing process and all that goes along with it (mainly gathering and submitting paperwork), I quickly found that Patrick Moore and his team are on top of the process. All my questions were timely answered, and submitting requested documents was super-easy via their online portal. Turns out, it was a pain-free, pleasant experience! I'll refer friends and family to Patrick and his team -- for sure.

By: Donna (Atlanta, GA)

excellent

Yes, I recommend this lender

Wonderful experience. Very impressed on how responsive Gigi and all staff was to help me. Thank you so much.

By: Anne (Norwalk, CT)
See All Reviews

5/1 ARM

Interest Rate
2.375%
APR
3.331%
Monthly Payment
$778
HomePlus Mortgage
5/1 ARM
Interest Rate
2.375%
APR
3.331%
Monthly Payment
$778
(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 $778
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $778
Lender Fees $4,151
Lender Credit $0
Total Closing Fees* $4,151
*Other 3rd party fees may apply
HomePlus Mortgage
Email Lender

About the Lender

NMLS ID 78669
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, 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

Jonathan was the broker that helped me refi. He and his team were very professional. I will recommend Jonathan at homeplus mortgage to anyone. They helped me get a great rate and the process was very smooth. Very happy!

By: Ernesto (Pico Rivera, CA)

Thankful for an excellent service!

Yes, I recommend this lender

It was such a pleasure working with Joe Vitiello. He was very informative and was very knowledgeable in his field of work. I felt I was in good hands working with him. The whole process was very easy and quick. I will definitely recommend HomePlus Mortgage to friends and family and will seek Joe Vitiello's assisstance if ever in need of further services. Thank you Joe for all your help!

By: Emily (Beaumont, CA)

John Vitale!!!

Yes, I recommend this lender

I've has the opportunity to refinance with John Vitale at HomePlus Mortgage twice with the past year. When rates drop, John gives me a quick call to discuss market conditions and interest rates. In both instances I have saved money and that's what its all about. John is a straight shooter with no funny tricks. I looking forward to working with John in the future!

By: Drew (San Marcos, CA)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank
5/1 ARM
Interest Rate
2.500%
APR
3.296%
Monthly Payment
$791
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $791
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $791
Lender Fees $2,378
Lender Credit $0
Total Closing Fees* $2,378
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Timely and professional

Yes, I recommend this lender

The process with Consumer Direct was pleasant and timely. Everything was laid out well and they had the best rate available for a 20 year refi. We are very happy with the outcome and would recommend them highly.

By: Stephanie (Post Falls, ID)

A Pleasant Experience

Yes, I recommend this lender

Although I'd initially dreaded the refinancing process and all that goes along with it (mainly gathering and submitting paperwork), I quickly found that Patrick Moore and his team are on top of the process. All my questions were timely answered, and submitting requested documents was super-easy via their online portal. Turns out, it was a pain-free, pleasant experience! I'll refer friends and family to Patrick and his team -- for sure.

By: Donna (Atlanta, GA)

excellent

Yes, I recommend this lender

Wonderful experience. Very impressed on how responsive Gigi and all staff was to help me. Thank you so much.

By: Anne (Norwalk, CT)
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.