How to shop fixed mortgage rates in California?


Getting a loan in California can be a little confusing. The best California fixed mortgage rates may be available through many banks and lenders, but the staggering variety of advertisements and the way brokers and lenders mask mortgage terms and costs may take some more effort from the borrower to distinguish best California mortgage rates. In the end, it's the most active real estate market in the country after all.

Shopping fixed mortgage rates in California has become an adventure ever since the introduction of the 40-year fixed mortgage around 2005, and clearly with the advent of the 50-year fixed mortgage loan California seems to be a very challenging place to shop for fixed mortgage rates loans.

Fixed mortgage rates in California are higher than HELOC rates.

Adjustable rate mortgages, HELOCs and HELs can also be a good choice for the homebuyer. Recently, HELOC rates are beating the fixed mortgage rates in California and elsewhere due to federally reduced prime rate. Even if a $200,000 HELOC may be difficult to find, this is the time one could use a HELOC to finance a first mortgage (not exactly possible in California) since a HELOC rate of 4.30% is not unusual these days.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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