Current California Mortgage Rates
Quick Mortgage Definitions / Terms / Facts
When can I lock in my loan?You may request to lock in your loan anytime after your loan application is submitted. Your rate is not locked until you receive written confirmation that your rate has been locked. Interest rates fluctuate daily, so the rates available when you apply may be different than the rates available when you decide to lock your interest rate. By locking, you protect your selected rate for a stated period of time regardless of market fluctuation. Once your rate is locked, you will receive a lock confirmation stating the rate and terms that you have protected.
What are Points?
Points are a method of buying down the interest rate. One point is equal to 1% of the loan amount. For example, 2 points on $100,000 equal $2,000.
First Steps to Getting a Mortgage?
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