Home >> Home Equity >> California

California (CA) Refinance Loans and Rising Home Prices

While California's economy continues to see both growth and recession, home prices have continued to rise. With approximately 13 million housing units in the state, California's median single-family home price rose to $576,360 in August of 2006. Residents more than ever need suitable mortgage loans from loan specialists.

Loan institutions can help first time home buyers acquire a California home loan with an FHA loan, which has lower down payments as do VA loans for veterans or active military personnel. Jumbo loans for high priced California real estate are more the rule than the exception. Though fixed-rate mortgages deliver a predictable monthly payment, many Californians are opting for riskier adjustable-rate mortgages for the lower interest rate. Some try no-down or interest only loans to break into the market. With a variety of loans to choose from, Californians can own their own home and build equity.



Select Your California City

Loading the latest rates from Freddie Mac's Primary Mortgage Market Survey®

Loading Icon