First California Mortgage Offers Home Buying Solutions for CA Residents

First California Mortgage is a trusted mortgage broker with over 30 years of experience in helping California residents achieve their dream of homeownership.

They have a team of experts who are knowledgeable about the California mortgage market and can guide you through the home buying process.

First California Mortgage offers a wide range of mortgage products, including conventional, FHA, and VA loans, making it easier for California residents to find the right loan for their needs.

Their services are designed to make the home buying process as smooth and stress-free as possible.

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Buying your first home in California can be a smooth sailing experience with the right guidance. At Park Place Real Estate Company, they have the expertise to walk you through every step from getting your loan approved to choosing the right home for you.

You can trust their experienced real estate agents and loan officers to find the best mortgage available for you.

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The decision to buy a home is the most important financial move you will make, and it's essential to have the right experience guiding you. Park Place Real Estate Company evaluates your budget and desires to help you find the home that will work comfortably for you.

As a mortgage broker, they have a long-standing relationship with a wide variety of lenders nationwide, giving them the flexibility to find a loan with the lowest possible interest for a first-time buyer.

You can discuss the advantage of buying a home with one of their professionals by giving them a call at 949-540-2300.

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Interest rates can vary depending on your financial circumstances, lender fees, and other factors, and can change daily. It's recommended to check with a CalHFA-approved loan officer to receive an accurate rate quote.

As of January 3, 2025, current interest rates in California are 0.00% for a 30-year fixed mortgage and 0.00% for a 15-year fixed mortgage. If you recently bought a home with a mortgage rate of 7 or 8 percent, keep an eye on rates, as it might make sense to refinance if they drop enough in the near future.

California mortgage rates follow national mortgage rates, which have been falling in recent weeks. The current consensus is for that trajectory to continue going into the fall and the end of 2024.

Current interest rates in California can be a bit confusing, but I'll break it down for you. As of January 3, 2025, the current interest rates in California are 0.00% for a 30-year fixed mortgage and 0.00% for a 15-year fixed mortgage.

You should know that interest rates can change daily, so it's essential to check with a CalHFA-approved loan officer for an accurate rate quote. CalHFA works with approved lenders to qualify consumers and make mortgage loans.

More than 12,000 mortgages were refinanced in California in June 2024, according to ATTOM Data Solutions. This is a significant number, and it's worth noting that refinance rates are much higher than they were in early 2021.

If you've had your property in California for a long time, you may have more tappable equity, which can allow you to do a cash-out refinance to further your financial goals. According to ATTOM's data, more than half of California properties are considered "equity-rich" as of the third quarter of 2024.

Here are some current mortgage interest rates in California:

Keep in mind that these rates are subject to change and may not reflect the rates you'll qualify for. It's always best to check with a lender for the most up-to-date information.

In California, the median single-family home sales price is a staggering $886,560, as of July 2024. This is a significant number that affects many people's lives.

The median condo/townhome sales price in California is $680,000, also as of July 2024. This is a notable difference from the single-family home price, highlighting the varying costs of different types of housing.

Total home sales in California increased by 4.1% year-over-year in July 2024. This is a positive trend, indicating a growing demand for housing in the state.

The median days on market for homes in California is 20, as of July 2024. This means that homes are selling relatively quickly, which can be a good sign for sellers.

Here's a summary of some key statistics about the California housing market:

If you're planning to buy a home in California, you have several mortgage options to consider. California conventional mortgages are a common choice, but rates and requirements vary depending on where you want to live and your financial situation.

To get started, you can compare mortgage rates to find the option that's right for you. California FHA loans are another option, designed for low- to moderate-income borrowers with lower credit scores. These loans are offered to first-time homebuyers, defined as those who haven't purchased a home in the past two years, as well as repeat buyers.

You can find California FHA loans through an FHA-approved lender in the state. VA loans are also a possibility, guaranteed by the Department of Veterans Affairs and offered to eligible veterans and active-duty service members. VA loan interest rates are typically lower than conventional mortgages, and these loans require no down payment.

If you're looking to buy a home in one of California's pricier zip codes, you may need to consider a jumbo loan. These loans have higher conforming loan limits, but you'll need to compare jumbo loan rates from multiple lenders and be prepared to meet higher down payment and credit score requirements.

Here are some mortgage options in California, summarized: