Mortgage Rates in California with Bank of the West
Bank of the West is the second largest bank based in California ranked by assets. Bank of the West offers a plethora of consumer deposit and loan products in the state including mortgage loans in California with competitive mortgage rates.
Bank of the West provides a number of home loan products to choose form including fixed rate loans, adjustable rate loans and FHA loans.
Fixed rate mortgages through Bank of the West come with a variety of repayment terms.
The fixed rate loans have fixed principal and interest payments for the life of the loans and come with a reduced rate option with the bank’s Relationship Pricing which is available to qualifying Bank of the West customers.
The Bank of the West adjustable rate mortgages have an initial interest rate that is often lower compared to fixed rate mortgages but may change due to current market conditions or interest rates. These mortgage loans are also available with the bank’s Relationship Pricing which is available to qualifying Bank of the West customers.
The mortgage interest rate on the adjustable rate loans will have rate changes on the loans that are capped depending on loan program and the loans do not have negative amortization provisions so the principal balance cannot increase. The adjustable rate mortgages come with a variety of loan options and rates.
Bank of the West continues to offer competitive rates on FHA Loans. These loans have a several different loan terms and interest rates. FHA loans also have flexible credit and qualifying standards.
Current mortgage rates in California offered by Bank of the West include the following:
A 30 year fixed rate home loan with a mortgage rate of 5.00% and no points and an APR of 5.082%.
The 30 year loan with 1.0 point has a mortgage rate of 4.875% and an APR of 5.001%.
A 15 year fixed rate loan in California offered by the bank has a mortgage rate of 4.75% and no points with a 4.891% APR.
A 3/1 adjustable rate mortgage has a mortgage rate in California of 4.125% with no points and a 3.422% APR.
The 5/1 ARM which has a fixed rate period of five years as opposed to 3 years that is on the 3/1 ARM, also has a mortgage rate of 4.125% with no points and a 3.553% APR.
The California mortgage rates and fees listed are available to borrowers with an excellent credit history on owner occupied single family properties with a 20% or greater down payment. The actual mortgage interest rate and fees available to a borrower will be based on their credit history and other qualifying conditions.
The California mortgage interest rates, annual percentage rates (APRs), and points listed are subject to change without notice and assume the Bank of the West Relationship Pricing. The bank Relationship Pricing requires applicants to maintain a Bank of the West personal checking account with a debit card and automatic electronic mortgage payments.
All home loans in California are subject to bank approval and underwriting. For current mortgage rates and additional loan information on Bank of the West Products, the main customers service number is 800-488- 2265 or a new loan request can be called into the bank at 800-563-1852.
Bank of the West has 700 retail bank branch locations in 19 states including California.
California Mortgage Rates at Union Bank
There are numerous choices for consumers to choose from to find a competitive mortgage rate in the state of California. One choice is Union Bank, the largest bank measured by assets headquartered in California. The bank is headquartered in San Francisco, California and has bank branches throughout California as well as additional offices in Oregon and Washington.
Union Bank is a commercial bank that provides financial products and services to businesses and individuals. The bank offers checking accounts, savings accounts, individual retirement accounts, certificates of deposit, auto loans, personal loans, a variety of mortgage loans and more.
Union Bank has several flexible financing options for home purchases and refinances in California. The bank offers fixed rate mortgages that offer a fixed interest rate for the life of the loan, a two step mortgage that features a 40-year term with a fixed interest rate for 15 years and a one time interest rate and monthly payment adjustment for the remaining term of 25 years as well as a 5 year adjustable rate mortgage that has a fixed interest rate for the first five years of the home loan, then will adjust on the first change date after the five year period up to 3% and thereafter the interest rate can increase or decrease up to 2% per year, with a lifetime rate cap of 5% above the initial rate. These are just a few of the options for borrowers have with Union Bank to refinance or purchase a home.
Current California mortgage rates and terms offered by Union Bank include the following samples. These California mortgage rates are current as of February 14, 2010.
15 year fixed rate mortgage has mortgage rate of 5.625% with no points and an APR of 5.765%.
For a lower rate with slightly higher costs, the bank offers a 15 year mortgage rate of 5.125% with 1 point and an APR of 5.418%.
For a 5 year adjustable rate mortgage, Union Bank offers a mortgage rate of 5.000% with no points and an APR of 4.037%.
The 5 year adjustable rate mortgage with one point would have a mortgage rate of 4.500% and an APR of 3.937%.
The 15 year two step has a mortgage rate of 5.875% with no points and an APR of 5.761%.
Mortgage rates are subject to change without notice. Bank approval is required for all home loans and additional conditions will apply. These mortgage rates are dated February 14, 2010 and are based on a home loan in California on an owner occupied single family home in the amount of $325,000.00 with a $100,000.00 down payment. Mortgage rates in California and the APRs will vary based on the final loan amount, qualifications of the borrower and finance charges.
Union Bank has home loan financing options for first or second homes as well as residential investment properties. For additional home loan options and current California mortgage rates offered by Union Bank, a bank loan officer can be reached at 1-866-UB-LOANS.
All loans are subject to credit and collateral approval by the bank.