Best Mortgage Rates in California

30-Year Fixed

Most Popular

15-Year Fixed

Lower Interest

5/1 ARM

Adjustable Rate

FHA Loan

Low Down Payment

VA Loan

Veterans Only

🏠 California First-Time Homebuyer Programs

• CalHFA First-Time Homebuyer Program
• California Dream for All Shared Appreciation Loans
• MyHome Assistance Program

📊 California Housing Market

What are current mortgage rates in California?

Current California mortgage rates are 6.65% for a 30-year fixed loan, 6.05% for a 15-year fixed, and 6.35% for FHA loans. Rates vary by lender and individual qualifications.

How much house can I afford in California?

With a median home price of $750,000, you can use our mortgage calculator to determine affordability. Generally, housing costs should not exceed 28% of your gross monthly income, including property taxes of approximately 0.75% annually.

What first-time homebuyer programs are available in California?

California offers several first-time homebuyer programs including the CalHFA First-Time Homebuyer Program. These programs often provide down payment assistance, reduced interest rates, or other benefits. Contact the California Housing Finance Agency for details.

How do California property taxes affect my mortgage payment?

California has a property tax rate of 0.75%, which means approximately $5,625 annually on a median-priced home. Property taxes are typically included in your monthly mortgage payment through an escrow account.

Should I choose a fixed or adjustable rate mortgage in California?

Fixed-rate mortgages offer payment stability, while adjustable-rate mortgages (ARMs) like the 5/1 ARM at 6.25% may offer lower initial rates. Consider your long-term plans and risk tolerance when choosing between fixed and adjustable rates.

How do I qualify for the best mortgage rates in California?

To qualify for the best California mortgage rates, maintain a credit score above 740, save for a down payment of 20% or more, keep your debt-to-income ratio below 36%, and shop with multiple lenders. Consider getting pre-approved to understand your rate options.