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Initial rates displayed are based on a $200,000 loan for a purchase or refinance transaction of an owner-occupied, single-family residence with 62.5% LTV and 740 credit score and no cash out. The rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the borrower's creditworthiness and other differences between an individual loan and the loan criteria used for the HSH quotes. The annual percentage rate in ARM products may increase after the loan is closed. More Info: These quotes are from banks, thrifts, and brokers who have paid for a link to their website in the listings above, and you can find additional information about their loan programs on their websites.

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California Mortgage Rates

Comparing California Mortgage Rates with National Rates

In order to help you see how California mortgage rates compare with National rates, check out the following rate table from the industry website These rates represent national averages and are based on specific loan assumptions. 

Shopping for Best Mortgage Rates in California

It is important to shop around for the best terms. Make sure that you compare rates, lender fees and learn about third party fees. When comparing mortgage offers check out the term (length), interest rate (fixed vs. variable), and if applicable the cost of mortgage insurance. Get more information about mortgage rates and mortgage fees. Also, FHA loans, which always require mortgage insurance, differ from conventional loans, which require Private Mortgage Insurance (PMI) if your loan to value ratio (LTV) is over 80%.  Make sure that you use all of your costs when comparing loans.

Qualifying for a Mortgage in California

In order to qualify for the best mortgage rates in California it is important to have an excellent credit score. Also, you want to make sure that your debt to income ratio (DTI) and your downpayment or equity position , your loan to value ratio (LTV) are sufficient to qualify. Read this article about qualifying for a mortgage.

 Mortgage Resources for California

California is the most populous US state. According to the US census, as of 2017, there is an estimated population of over 39 million residents, which represents 12.1% of the US population. California has a very diverse geography including coastal, mountain and desert regions.

Here are some outside resources that can help you understand the California mortgage environment:

  1. FHA loan amounts in California: (note:set the table to California) There are 58 counties in the state of California of which 22% of the single family units meet the Highest loan limit, currently at $636,150. Only 28% of the counties are at the Standard loan limit, currently at $275,665. The remaining 50% are between those two limits.
  2. FHFA Conventional Loan Amounts: Check the pdf from FHFA for all states and search for your state and county or check out the FHFA conforming limit map. Since the FHFA has higher base limits than the FHA, currently at $424,100, there are 57% of the counties that fit this category. Another 21% of the counties have the Highest Loan limit of $636,150. The remaining 22% are between those two limits.
  3. California First Home Buyer Programs: California has some of the most expensive housing areas. This can make it very difficult to purchase a property a home due to the need to bring a large down payment. However, California has a number of special first time buyer home programs. One good source of information is the California Housing Finance Agency. They have a number of loan programs, down payment assistance programs and the Mortgage Credit Certificate tax Credit Program. Homebuyer Education Programs: Many programs require a homebuyer education class. For more information and a limited less check out the Hud’s website

Mortgage Trends and Statistics for California

Mortgage rates, loan amounts, LTV, (etc) vary based on areas. The FHFA provides a useful insight into differences in conventional loans. based on Metropolitan Areas.

Source of Data: FHFA Historical Table  - (TERMS ON CONVENTIONAL HOME MORTGAGES) Table V - Averages for Major Metropolitan Areas: Loans Closed

Check out some differences in two areas in California :

  • Mortgage Rates for Conventional Loans in Three MSAs in California
  • Loan Amount in California for Three MSAs
  • Mortgage Fees in Three MSAs in California
  • LTV over 90% in Three MSAs in California



Mortgage Rates for Conventional Loans in Three MSAs in California"


Mortgage Fees in Three MSAs in California

Loan Amount in California for Three MSAs

 LTV over 90% in Three MSAs in California