California Mortgages

California Mortgages - $800,000 Loans Made Affordable

What you should know about California mortgages

First of all, they're going to cost a lot of money. A whole lot of money. More money than you've probably seen in your whole life. Far more money than they are actually worth.

Why is this, you ask.

Overpopulation and high demand. Simple but true. The state has 35 million residents, adding about half a million each year. I know what you're thinking - a good number of those are probably illegal. Nevertheless, a lot of people are looking for California mortgages. If there are ten houses and only one person is looking to buy, home prices are going to drop. If ten people want one house, it's going to drive the price up. This is simple economics, people, and it's what we're seeing in California. A simple three-bedroom house in the Bay Area runs around a million dollars. Same with L.A., while San Diego and even Sacramento aren't too far behind.

Again, why are you telling us this, that's what you're asking.

Because a California mortgage involves you borrowing a huge sum of money, in all likelihood, and paying interest on it over a 15- or 30-year period. When you're borrowing hundreds of thousands of dollars, the interest on California mortgages is important to consider.

• Rates on countrywide mortgages are currently averaging 5.0-6.0%.
• If you borrow $500,000, you will be paying it back, plus that amount of interest each year.
• Think about how much even a 1% change could affect mortgages of that size, especially when interest compounds over a 30 year period.

This is why it is critical to secure the best deals on California mortgages now, while the rates are historically low. It may be the only way to afford your dream home, or your $650,000, dilapidated studio apartment.

Check out our page dedicated to the glory of Florida mortgages, too. And don't stop there. We are pleased to announce the official inauguration of our page immortalizing the wonders of Colorado mortgages, as of right now!

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