Welcome to California Mortgage Loans Online, your destination for the best California home loan offers in the state. Consumers are invited to the mortgage loan website that is dedicated solely to home financing for California residential real estate. California Mortgage Loan Company specializes in various home loans for California homeowners with discount offers for jumbo fixed rate refinancing, interest only home financing, deferred interest payment options, second mortgage programs, FHA, VA, consolidation loans and home equity second mortgage 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." California mortgage rates have dipped below 5% on 30-year fixed rate conforming loan terms.

Lock into California Mortgage Rates Starting as Low under 2.875% (5/1 ARM fixed for 5 Years)

As most people throughout the country have read, California home loan rates dropped again, but home sales remain sluggish in Northern and Central California! In 2011, Southern California housing has begun to see a slight rise in property values. 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 mortgage programs can afford to finance home buying in their state. Creative financing has paved the road for many first time homebuyers. The advent of 100% financing helped create the current foreclosure crisis with interest only loans, payment option ARMs and negative amortization loans really hammered the mortgage industry because of the alarming rate of loan defaults that continues to climb to levels out of control. We offer California mortgage loan programs for Primary Residences, Non-Owner Occupied, 2nd Homes, Vacation Rentals and Investment Properties.

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

• California VA Loan to 100% CLTV for qualifying credit grades. Purchase or Refinance.
• Bank Statement Program - Income calculated by monthly deposits.
• Interest Only for FICO Scores as Low as 520.
• 15, 30 and 40-Year Terms Available to all FICOs.
• California Refinance Loans from $100,000 to $5,000,000
• California Jumbo 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. The LA Times reported sales of low-end homes were hindered by tighter lending guidelines and credit requirements. The mortgage industry has 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. VA loans in California are the last 100% finance options for borrowers in the Golden State. In 2011, California home loans are blessed with mortgage rates at 4% on 30-year fixed terms.

RealtyTrac reported that Nevada, New York and California post top foreclosure rates with two in 100 households being in risk for foreclosure. "California home loans registered the nation's 2nd highest state loan default rate, one foreclosure filing for every 315 households." According to Nationwide Mortgage, mortgage refinance programs have tightened with high credit scores and more equity needed to qualify. California lenders continue to see new rules and changes from the state governments in an effort to curb mortgage fraud.

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

The California real estate market has slowed down and the boom days are gone at least for now. With rising interest rates, buying your first home may appear difficult but with creative home financing available for first-time homebuyers, buying a home is more realistic than think Qualifying for special first-time homebuyer loans is based on several factors, which may vary according to the type of program.

Many loan professionals are concerned about how the Dodd-Frank bill will affect the mortgage industry in California. There is a movement stirring up to repeal this short-sided financial reform bill. The 2012 FHA loan limits were reduced in high cost areas across the state so unfortunately this will eliminate thousands of struggling homeowners from FHA refinancing.