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Lock in a low interest rate and get cash out by doing a comb...

Home equity lanes are a nice option for consolidating higher...

Home equity lanes are a nice option for consolidating higher...

Lock in a low interest rate and get cash out by doing a comb...

Home equity lanes are a nice option for consolidating higher...

California Mortgage Lenders

California Mortgage Lenders: Get the Best Deal

The first step in getting started buying a home is to shop around for multiple California mortgage lenders in order to find a competitive loan package to meet your individual needs. MortgageLenders.org can help you with this step of the process by connecting you with numerous lenders.

It is also important to make sure you take the time to fully compare the mortgage packages offered by each mortgage lender. Today there are more mortgage products on the market than ever before. A few of the factors you should take into consideration when reviewing each loan offered include:

  • Interest rate
  • Repayment terms or the length of the loan
  • Fees charged for the loan

Rates
Always be sure to ask the California mortgage lenders you shop around with for their bottom-line APR and what it includes. One mortgage lender may be charging a lower interest rate because that rate includes the purchase of discount points. In some cases, it can be to your advantage to purchase discount points to lower the interest rate. But, you will only know whether it’s a good deal if you also know what is being offered by other California mortgage lenders to make a fair comparison.

Repayment Terms
While traditional mortgages are repaid back in terms of 15, 20 and 30 years, longer mortgage terms are making it possible to spread out the life of your loan even longer. Many mortgage lenders in California are now offer repayment terms of 40 and even 50 years. The advantage of these longer terms allows you to achieve lower payments on larger loans. Keep in mind; however, that means paying longer on your mortgage and paying more interest over the course of the loan. Still, for many people looking to keep their mortgage payments low, this can be a great solution. Be sure to ask whether the lender you are considering offers one of these options.

Fees

It’s not uncommon for lenders to charge fees for loan processing or origination, recording, attorneys and recording of legal documents. Sometimes; however, the fees charged may not be all that clear. Always ask up front what fees are being charged, how much is being charged and exactly what that fee covers.

MortgageLenders.org can help you locate a wide selection of California mortgage lenders to get started quickly with your next home purchase. Compare mortgage rates and offers from a variety of lenders across California to be sure you’re getting the best deal possible.

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