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.