Who has low mortgage rates in California?
I’m looking for a primary, single-family home in for , and credit score.
Insights
Negotiate everything—rates, fees, and terms are not set in stone.
George Robinson Chief Data ScientistLenders with low rates in CA
We’ve analyzed the rates lenders actually gave to buyers for the last three years and found only a few lenders likely to get you a good deal.
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Insights
Negotiate everything—rates, fees, and terms are not set in stone.
George Robinson Chief Data ScientistLenders in CA likely to have high rates
We don’t accept advertising, so TrueRate can give the real lender story. We looked at 75 lenders and these lenders are likely to offer you a high rate.
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Insights
Whether a lender has high margins or is simply inefficient and passing their costs on to you, the result is the same—you’ll likely end up paying more for your home. Our data shows that if you choose these lenders you will likely regret it.
George Robinson Chief Data ScientistLenders with average rates in CA
You deserve better than what these lenders historically provide.
Sorry, no lenders were found.
Methodology
We believe in transparency. Here’s how we crunched the numbers.
Based on lender data from 2023 with at least 10 loans similar to yours with 0 points for a 30-year fixed mortgage.
Don’t let lenders pull a fast one on you
Learn how really low rates often come with hidden fees. Drag the slider to see how rates and fees are connected.
Insights
James James McTernan is a Tomo Mortgage Loan Advisor - NMLS #337556Get a personalized rate quote from Tomo Mortgage
Unlike other lenders who require you to speak with a loan officer first before giving you a detailed quote, Tomo Mortgage believes in transparent rates.
TrueRate report
See how mortgage companies got home buyers to over-pay by billions.
Get the reportMethodology
We believe in transparency. Here’s how we crunched the numbers.
Based on lender data from 2023 with at least 10 loans similar to yours with 0 points for a 30-year fixed mortgage.
Let’s talk about buying a house in California
Honestly, it’s not for the faint of heart. You thought high mortgage rates were bad? Wait till you throw California’s sky-high home prices into the mix. Brace yourself.
First, let’s get into the interest rates. Rates are coming down in 2024 and 2025 from earlier highs, and this is great news for anyone looking to dodge the 7% range for a 30-year fixed mortgage. If you’re out here trying to buy a house in California, that interest rate is going to hit harder because—let’s face it—home prices are insane. So all the more reason to find the lowest price rates anywhere in the country, and you’re in the right place.
The median home price in places like San Francisco, Los Angeles, and Silicon Valley? Easily in the million-dollar range. In places like San Diego and Orange County, it’s not much better.
But let’s not forget that this is California, the land of sunshine, tech jobs, and endless opportunities. Despite the high rates and prices, people still want to live here because it’s, well, California. The demand is strong, especially in tech hubs, and there’s still a shortage of available homes. So even with rates on the decline, prices aren’t dropping as much as buyers might hope.
But there are options to make things slightly more manageable, If you’re a lucky soul who qualifies for first-time buyer programs or FHA loans, you might catch a break on your down payment and mortgage insurance costs.
So, what’s the 2024 California homebuying situation in a nutshell? High rates, high prices, but people still can’t get enough of the Golden State. It’s all about finding the right deal, staying patient, and maybe being okay with buying a fixer-upper if it means snagging that California dream.