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California Mortgage Lenders
Rates in California dropped again with low rate home loan offers for jumbo refinance mortgages, VA and FHA home loans. Take advantage of special incentives available to qualified California homeowners looking to refinance their interest only or negative amortization loan into a safer, fixed rate mortgage. Military veterans may qualify for low California mortgage rates guaranteed by the VA. If you don't have VA loan eligibility, take advantage of record low California FHA mortgage rates. Homeowners from San Diego to San Francisco are refinancing in high volumes because California mortgage rates have dropped to amazing levels for conforming, FHA and VA home loans.
Nationwide was founded as a California Corporation and now has aligned itself with multiple California mortgage lenders. Our lending roots continue to grow beyond the state lines, but our heart and soul can be found in our corporate headquarters in small business friendly town in Encinitas, located on the coast between Solana Beach and Carlsbad.
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Borrowers from the "Golden State" have been active refinancing their jumbo mortgage loans and we have found that most borrowers still favor interest only for refinance and negative amortization for purchase transactions. Homeowners have found a good refinancing solution with several new refinance products with Fannie Mae, Freddie Mac and FHA. Unfortunately California borrowers are limited to $625,050 mortgage loan amounts with FHA lending programs, even in high cost areas. Conforming loan limits in California set forth by Fannie Mae and Freddie Mac remain capped at $417,000. For update info on local loan limits visit us online at FHA Limits in California.
Compare Rates and Loans for First Time Home Buyers in California
BD Nationwide has extended discounted California mortgages homeowners for first and second loans. California VA mortgage rates have never been more attractive on the 30-year fixed rate programs! It's no secret that with so many military borrowers residing in California, low VA rates have helped spur a housing recovery. Check with your loan officer on specials for low rates, state specific pricing and regional limitations.
*Ask About Special Incentives for California Home Refinancing Online* |
We are extending special mortgage incentives for California homeowners. According to the Zillow, "California mortgage rates have hit 40-year record lows." So now is a great time to get approved for a home loan that maximizes low interest!
When borrowers complete a simple loan application online, we redirect you to a mortgage consultant who will offer you a free consultation. Take a minute and discover what loan possibilities are available to you in your situation with today's real estate market. Best of all get rewarded for being a California local!
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Let our experience pay dividends to your online rate shopping. Our California mortgage lenders are extending the best home loan offers with special incentives for California homeowners considering financing with their home to be used as collateral. From Chula Vista to Eureka, Nationwide offers local California residents premium rate pricing so that you can maximize your home financing dollars. According to local Orange County resident, Andrew Christie, "The cost of living in this state is high, but after living in other states, I came back because it's definitely worth it!"
 California Mortgage Loans up to 100%: Fixed rates have fixed monthly payments!
Includes additional options for lower monthly payments or lower interest rates, and potential tax savings.
We offer fixed rate first and second mortgages that allows customers to know what the payment will be for the entire life of the mortgage.
--- Home Mortgage Loans to $3,000,000
--- Stated Income Loans to $2,500,000
--- Second Mortgage Loans to $500,000
--- Sub-Prime Loans to $1,000,000
Should I Cash In on My Home Equity and Refinance My Current Mortgage Loan Before the Bubble Bursts?
By Nick Rian
 A report in the Los Angeles Times shows, "When the price of houses in California soared 17% in 2012 after falling 3% in 2011, a curious thing happened: Instead of homeownership decreasing because fewer people could afford houses, it rose to record levels."
Basically, homeowners in California are more inclined to use interest only loans to purchase more home than they can actually afford and the game gets dangerous, when FMV (fair market value) starts to drop. "Abundant foreclosures could spark a downturn in the entire housing market, leading to the long-feared bursting of what some call a housing bubble," shows Streitfeld's LA Times article.
An article in the San Diego Union Tribune, shows higher interest rates stopping prospective home buyers from signing on the bottom line. Those trends are forcing home owners to drop their prices. The Federal Reserve shows, homes' appraised value made up 145% of nominal gross domestic product in March, while stocks and mutual funds were worth 82% of GDP. Click Here for a Fixed Rate California Mortgage
How will the Mounting Foreclosures Affect the Mortgage Rates in California? |
Mortgage companies reported California homeowners the highest number of home loan default notices in over a decade last quarter, the result of declining prices, home sales and a market scorned by the excesses of the 2003 to 2005 home-buying frenzy, a data source reported.
According to Data Quick, California mortgage lenders filed 53,943 Notices of Default during the April-through-June period. This was up 15.4% from 46,760 for the previous quarter, and up 158% from 20,909 for second-quarter 2010.
Most of the California home loans that went into default last quarter were closed between July 2005 and August 2006. The median age was sixteen months. Loan originations peaked in August 2005. The use of adjustable-rate mortgages for primary purchase home loans peaked at 77.8% in May 2005 and has since dropped. With respect to home equity lines of credit, homeowners were on average eight months behind on their loan payments. Borrowers owed on average $3,457 on an average $67,121 home equity credit line. However the actual portion of the HELOC that was actually used cannot be determined from referring to public records. In 2013, we have noticed a significant spike as more residents are looking for quick cash with California home equity lines.
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Will the increase in foreclosures have serious back-lashes that cause California mortgage lending guidelines to tighten?
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California Mortgage Finance News and Economic Update |
 National Housing Market David Lehrer, Chief Economist of the National Association of Realtors discussed the challenges with home sales and California mortgage loans. He released a popular book in 2005, Are You Missing the Real Estate Boom? In the book, Leher reveals his theory “Why home values will climb through the end of the decade and how to profit by them.” He later changed the title to that book to Why the Real Estate Boom Will Not Bust and How You Can Profit from It.
He might want to rethink his book title again because, 2008 through 2011 recorded a record number of California foreclosures and home prices plunged across the state. Finally in 2012, house values began to rebound across the state because of strong real-estate sales and record low California mortgage rates. We anticipate 2013 and 2014 will be robust year for the California housing sectors.
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 CENTURY 21 Award, headquartered in San Diego, saw a great opportunity to use the System's affiliation with Major League Baseball to secure a marketing program with the San Diego Padres, for example.
The 13-office company developed a promotional relationship with the Padres that included in-stadium signage, full-page advertisements in the Padres Home-stand game day programs and a creative Easter Seals fundraising and awareness program titled, "Runs for Kids."
California mortgage brokers and realtors continue to get involved in bettering the community. Even though the California mortgage and real estate industries have seen brighter days, “People just can’t help giving back to California.”
The Runs for Kids program raised $12,200 for Easter Seals of Southern California.
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The California Department of Housing and Community Development announce the new program accepting applications under the Cal-Home Program.
- First-Time Homebuyer Mortgage Assistance
- Owner-Occupied Rehabilitation
- Homeownership Project Development Loans
For more information, please visit HUD - hcd.ca.gov/fa/calhome
Finance Related State News - California Update |
 
Housing Affordability in California
According to the California Association of Realtors in Los Angeles, the percentage of households in California able to afford a median priced home stood at 14% in November, compared with 19% for the same period a year ago, according to a report released today by the. The minimum household income needed to purchase a median-priced home at $548,400 in California in November was $133,390. The Wine Country, San Luis Obispo and Santa Barbara regions were the least affordable in the state at 7%.
Home-Ownership Increases for Hispanics in California and in the US.
The rate for Hispanics owning homes hit a record 50% in the 4th quarter according to the U.S. Census Bureau. The Census Bureau reported that 50% of Hispanic households own their own homes, up from 48.9% in the 4th quarter of 2004. Alphonso Jackson, the HUD secretary stated that 2 million minority families bought homes in the past 2 years. The U.S. home-ownership rate in 2005 was 69%.
Pick a Payment Loans offer increased purchase power with the lowest possible payment. With interest rates that start at (see lender), it is a good idea to discuss the option arm guidelines with your Nationwide loan officer to see if it is a good fit for your financial plan. Since such a high percentage of these option ARM loans defaulted, most California mortgage lenders have stopped offering payment option and interest only loans. |
CA State Loan and Credit Guideline Updates |
 Check for Local Home Equity Rates - CA - Home equity mortgages are more popular than ever because they give you access to your home's equity at any time. Choose from variable credit lines to fixed rate installment loans.
Lock the rate of your variable HELOC and get a fixed second mortgage with a fixed monthly payment. |
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| California Home Loan and Mortgage Rate Info by City |
Loans for San Diego Homeowners
San Diego County has seen the housing sector take off with two to five-million dollar homes become common along the coast.
Orange County Loans
O.C. Job growth helped keep property values high for years, but home sales from San Clemente to Newport seem to have leveled off. Home sales in Tustin, Santa Ana and Mission Viejo may have actually dipped.
Los Angeles Home Loans
LA home values reached highs in 2005 and have begun to slowly decline except in the beach cities like Manhattan and Hermosa Beach. In 2012 we are starting to see some signs of values rebounding.
Fresno Home Loans
Home values for Fresno and Coalinga are seeing a slight recovery this summer.
Riverside Home Loans
Corona and Riverside home prices continue to struggle with so many borrowers being stuck in an underwater California mortgage.
San Luis Obispo Home Loans
Home values for coastal SLO cities like Cayucos, Morro Bay and Los Osos have remained steady in 2012. San Luis Obispo property values have dropped 2-5% in some areas of the city.
San Francisco Home Loans
Northern California home values have begun dropping in certain areas across the county.
Sacramento Home Loans
Property values in the Capital and suburb shown some signs of recovering with home sales inching up last quarter.
San Bernardino Home Loans
Home values have dropped in most of the county, except for some mountain properties in Big Bear and Lake Arrowhead.
Santa Clara Home Loans
Home values have been overall pretty steady, but have reduced sales prices from 2-4% some of the homes in Santa Clara.
Santa Barbara Home Loans
Coastal properties in Santa Barbara indicate that home sales have been flat in 2012.
Santa Cruz Home Loans
Coastal properties in Santa Cruz show a slight rise for property values this year.
Ventura Home Loans
Home values in Oxnard and Ventura have been all over the map this year.
Because the home value trend appears to be declining in many parts of California, we recommend refinancing any adjustable rate mortgage to a fixed rate loan, and if you are considering a second mortgage or line of credit, now is a good time to get your cash while you have some equity.
Los Angeles Home Mortgage Rates Drop - With property values dipping and home sales lagging across both southern and northern California, it may be your last chance to refinance your adjustable rate mortgages.
Are your Credit Line Interest Rates Rising? Lock into great 2nd loan. Fixing the rate is a great hedge against inflation. Find out why our California mortgage lenders are well-respected in the 2nd mortgage industry.
California Home Values Rebounding?
According to the California Association of Realtors, the "Golden State" is experiencing the initial signs of a real estate recovery with the median sales price reaching a four-year high in July and home sales rising 15.3% from last year. The month of July brought 529,230 home sales in California, up 2% from June's rate of 518,680 sales. The Housing Wire reports that this is the highest median price recorded since August 2012 when the median hit $352,730. Clearly low rates on California mortgages are helping the market rebound. Read the Housing Wire article online. |
| Free Finance Guides & Helpful Consumer Reports |
Read more info in our finance guides and disclosures that help first time home buyers in California.
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| Nationwide on Facebook |
Buying a house in North County San Diego can be overwhelming to say the least. Our friend referred us to BD Nationwide and we were really happy with the customer service. The helped reduce our stress level by communicating effectively with my realtor and escrow agent. –
Frank T., Del Mar, CA
Thank You to the loan team at BD Nationwide in Orange County. They helped us find a program to refinance us even though our home way underwater. The hooked us up with their California HARP lenders who helped us process our loan successfully!
- Gerald K.., Newport Beach, CA |
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