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Requires minimum of 1-10% downpayment.
Fixed principal/interest payment over the life of the mortgage loan.
Wide variety of loan terms to fit your home ownership goals (30, 25, 20, 15 or 10 years). Owner-occupied primary residence, second home, investment property, 1-4 unit properties. Conforming and non-conforming mortgage loan amounts for new and existing California home refinance.
Fixed rate fully amortizing mortgage loans have two distinct features. First, the interest rate remains fixed for the life of the loan. Secondly, the mortgage payments remain level for the life of the loan and are structured to repay the loan at the end of the loan term. The most common fixed rate loans in California are 15 year and 30 year mortgages, including Reverse Mortgages.
During the early amortization period, a large percentage of the monthly mortgage payment is used for paying the interest. As the loan is paid down, more of the monthly payment is applied to principal. A typical 30 year fixed rate mortgage takes 22.5 years of level payments to pay half of the original loan amount.
Can't make a minimum down payment? Check out Lease Purchase Options!
Competitively priced fixed rate mortgage loans can save you money, thousands of dollars over the course of your loan with just 1/4 of 1% drop in your rate! Todays California lenders are committed to programs which help home buyers with interest rates and loan costs below market value. We urge you to take advantage of the free, secure Find a Lender
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