Whether you’re a first-time homebuyer or shopping for a new mortgage, Greater Nevada Mortgage is your comprehensive California mortgage lender. Contact us to learn more about current interest rates in California and to find the best mortgage.
Your California Mortgage Lender
Find Your California Home Loan Expert
Our team is ready to assist homebuyers in California to find their dream home. Our licensed mortgage specialists are always available to help Golden State residents purchase their new home or refinance their existing mortgage. The best part: Our convenient online application and closing systems offer a faster mortgage loan process. What’s more, most clients don’t even need in-person meetings.
What Affects Mortgage Rates and Monthly Payments in California?
What affects mortgage rates in California? Several things: inflation, the housing market, the bond market and the Federal Reserve. In short, lots of things outside of the average homebuyer’s control.
What affects your mortgage interest rate and your monthly mortgage payments are different. These are influenced by several different things: your credit score, the home’s location, the home’s price, your down payment amount, and loan term and type. (By the way: refinance rates are also affected by these.)
If you want a different mortgage interest rate or monthly payment, there are many things you can do–including refinancing your home loan.
Mortgages can be complicated. We’re here to give it to you straight so that you can make the best decision. Contact us today to learn more about rates for conventional loans, the refinancing process, or lender fees.
With So Many Mortgage Companies in California, Choosing the Right One Matters
California’s housing market is notoriously tough to navigate, especially for first-time homebuyers. Major cities–especially Los Angeles–boast some of the most expensive homes in the country, and with high mortgage rates, competition to purchase property can be fierce.
It helps to know Greater Nevada Mortgage is on your side. With decades of lending experience, plus friendly consultants on standby to answer your questions, we’re here to simplify one of the most important financial decisions you’ll ever make. Let us help you explore rates in California and find a monthly payment that fits your budget.
Explore Different Types of Mortgages for Buying or Refinancing in California
California’s housing market may be hot, but home loans are cool–especially when you partner with Greater Nevada Mortgage to find the best mortgage. We offer many different loan products because we know not all homeowners are exactly alike, and the best way to get started is to submit your mortgage application.
If you’re buying a home in California, be sure to ask our consultants about jumbo mortgages. Jumbo loans exceed Federal Housing Finance Agency (FHFA) conforming loan limits and are often necessary to purchase a home in California. So it’s worth the time to explore all possible options.
Fixed Rate Mortgages
Fixed rate mortgages have the same interest rates and monthly payments for the duration of your loan. This predictable loan type is great if you’re purchasing a “forever home.”
Fixed Rate Mortgages
Adjustable Rate Mortgages (ARM)
Adjustable rate mortgages are 30-year loans with interest rates that change with the market. After the introductory period, your rate will go up or down based on rate changes–a good choice if you only plan to live in your home for a few years.
Adjustable Rate Mortgages (ARM)
Jumbo Loans
Jumbo loans are home loans that exceed conforming loan limits. If the property you wish to buy is high-value, you’ll very likely need one of these types of loans.
Jumbo Loans
FHA Loans
FHA loans are loans that are insured by the Federal Housing Administration. They’re great for buyers with lower credit scores, or buyers putting down a smaller-than-usual down payment.
FHA Loans
USDA Loans
USDA loans are loans that are insured by the United States Department of Agriculture. With low mortgage insurance requirements and no money down, they’re good choices if you want to buy a home in a rural area.
USDA Loans
VA Loans
Veterans, active-duty personnel and surviving spouses may qualify for VA loans, which require no down payments and offer lower interest rates.
VA Loans
Doctor/Physician Loans
If you’re in medical school or close to graduating, reduce your debt load by qualifying for a lower down payment loan.
Doctor Home Loan
Home Equity Line of Credit (HELOC)
If you have equity in your home, a line of credit can let you easily tap into your property’s value.
Home Equity Line of Credit (HELOC)
Current Mortgage Rates
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Conforming 30 Year Fixed
- Rate 7.125%
- APR 7.160%
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Conforming 15 Year Loan
- Rate 6.625%
- APR 6.681%
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Conforming 5/5 ARM
- Rate 5.625%
- APR 5.820%
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Jumbo 5/5 ARM
- Rate 5.875%
- APR 6.048%
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Jumbo 30 Year Fixed
- Rate 7.375%
- APR 7.392%
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FHA 30 Year Fixed
- Rate 6.750%
- APR 7.433%
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VA 30 Year Fixed
- Rate 7.125%
- APR 7.386%
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USDA 30 Year Fixed
- Rate 6.625%
- APR 7.121%
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Conforming 5/5 ARM Doctor Loan
- Rate 6.125%
- APR 6.320%
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Conforming 30 Year Fixed Purchase Doctor Loan
- Rate 7.625%
- APR 7.672%
Let’s Explore What You Have in Mind
Follow these three easy steps listed below and be that much closer to possibly turning dreams into reality.
Calculate What You Can Afford
See how much you can afford to borrow on your home purchase with our mortgage calculator.
Submit Your Application
It’s quick. It’s easy. It’s online. Plus, we have a mortgage documents checklist so you know what information to gather.
Let’s Chat
All your home loan questions are answered by your dedicated Mortgage Consultant and their team as you learn about what options work best for your goals.
APR = Annual Percentage Rate. APR is the cost to borrow money expressed as a yearly percentage. For mortgage loans, excluding home equity lines of credit, it includes the interest rate plus other charges or fees.
Rates and terms are subject to change without notice. Rates are for illustrative purposes only, and assumes a borrower with a credit score of 700 or higher which may be higher or lower than your individual credit score. Adjustable Rate Mortgage (ARM) loans are subject to interest rate, APR, and payment increase after each change period. For instance, a 5/5 ARM means that you will pay a fixed rate for the first five years of the loan, and then your rate is subject to change once every five years thereafter through the remainder of the loan. Interest rates and APRs are based on current market rates, and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Depending on loan guidelines, mortgage insurance may be required. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing. The estimated total closing costs in these rate scenarios are not a substitute for a Loan Estimate, which includes an estimate of closing costs, which you will receive once you apply for a loan. Actual fees, costs and monthly payment on your specific loan transaction may vary, and may include city, county or other additional fees and costs. Not all loan options are available in every state. Borrower is responsible for any property taxes as a condition of the loan. Membership with Greater Nevada Credit Union is required for select loan options. This is not a credit decision or a commitment to lend.
Please contact a Mortgage Consultant to learn about all details on loan options and programs available. You may contact one directly, or call Greater Nevada Mortgage at 775-888-6999 or 800-526-6999. We do business in accordance with the Federal Fair Housing Law and the Equal Opportunity Act, and the California Fair Employment and Housing Act.