Welcome, California consumers, to the mortgage loan website that is dedicated solely to home financing for California homes and properties. California Mortgage Loan Company specializes in various home loans for California homeowners with discount offers for jumbo fixed rate refinancing, interest only home financing, negative amortization payment option s, 2 nd mortgages, FHA home loans, debt consolidation and home equity credit loans. California Mortgage Loans rewards local borrowers with special state incentives like interest rate reduction, discounted loan fees and give-away specials like “Free Appraisals.”

As most people throughout the country have read, California home sales have sky-rocketed! The Average home price has risen to nearly half a million, which is 300% greater than the average five years ago. Unfortunately for California resident’s home prices have risen over twice as fast as the incomes have increased over the same period. Many people wonder how California consumers can afford buying a home in their state. Creative financing has paved the road for many first time homebuyers. The advent of 100% financing, interest only loans and the payment option ARM that defers the interest for borrowers while offering an introductory interest rate at 1.25% for the negative amortization payment option.

For California Borrowers that are Self-Employed, Retired and Salaried

• Refinance or Purchase 100% CLTV for qualifying credit grades. Purchase or Refinance.
• Bank Statement Program- Income calculated by taking 100% of monthly deposits.
• Primary Residences - Owner Occupied - 2nd Homes - Investment Properties
• Interest Only for FICO Scores as Low as 520.
• 40 Year Terms Available to all FICOs.
• Refinance Loans up to $5,000,000
• Jumbo Purchase Loans up to $7,000,000
• 6 months bank statements available under different parameters.
• Million Dollar Reverse Home Mortgages
• Home Equity Conversions for California Seniors over 62

In a recent article in a Southern California newspaper discussions between mortgage lenders were evaluated as the California housing sector seemingly has cooled off. They reported sales of lower-priced homes had been hindered by tighter mortgage lending guidelines that have all but eliminated zero down-payment financing and 100% jumbo financing of a home, along with many home mortgage loans to bad credit borrowers, or borrowers with past bankruptcies or low credit scores. According to HSH Associates Financial Publishers many homeowners have been restricted by the increase in mortgage interest rates, from 5.77% for a 30-year, fixed-rate home mortgage in June 2005 to 6.73% for the same kind of mortgage last month.

RealtyTrac, which publishes the largest and most comprehensive national database of foreclosures, reports that Nevada, California, Colorado post top foreclosure rates with one in 175 households being in foreclosure in June. “California registered the nation’s second highest state foreclosure rate, one foreclosure filing for every 315 households,” according to their research.

Rising Mortgage Rates Have Not Halted of First-time Buyer Loan Options