Getting Started
CA Mortgage Types
- California Home Loan
- California Refinance
- California Home Equity Loan
- CA Home Equity Line of Credit
- California Debt Consolidation
California Mortgage Tips
- Bad Credit Mortgage
- California No Cost Refinance
- Low Mortgage Rates
California Mortgage Companies
- Home Loan Center California
- Wells Fargo in California
- Ameriquest California
- Washigton Mutual (WAMU)

California Mortgage Basics

A mortgage is the term used to describe borrowing money for a property, mostly a home or condo. A mortgage, also a home loan, is needed because most consumers do not have enough money to pay up front the whole cost of a home. Consumers need to lend money from a mortgage broker in California to be able to have the title in their name.

Get Low Mortgage Rates in California Mortgage
Loan Purpose
Credit Rating
A mortgage has a number of fees associated with the process that we will be explaining in another article. For now, we will cover the main points of a California mortgage. Mortgage Interest Rate
The interest rate is where a lot of new home owners are mislead. Make sure you ask what the APR (annual percentage rate) is and understand whether that interest rate is locked for only the first year or is fixed for a longer period of time.

Mortgage Loan Type
The two main types of mortgages are the fixed rate and adjustable rate mortgages. You may hear of mortgages such as interest only mortgages or pay option mortgage. Whatever the mortgage is, they generally fix into either the fixed rate, adjustable rate or a combination of the two.

Mortgage Principal
The principal is the actual amount of money you are borrowing from the bank. For example, if you buy a $200,000 home and put down $10,000, the principal would be $190,000.

Mortgage Escrow Account (Property Taxes, Homeowners Insurance)


California Mortgage Options

California Interest Only Mortgage
Interest only mortgage are good for consumers who intend to stay in their homes for less than 3-5 years.