California Home Loans & Mortgage Programs
California offers homebuyers every major loan program across wildly different markets, from Bay Area tech hubs to Southern California's coast to the Central Valley's more affordable communities. Whether you are a first-time buyer using the Price Equalizer to get elite pricing with a small down payment, a veteran near Camp Pendleton, a tech professional in San Jose, or a family in Sacramento, the right loan depends on your goals and your region. As a broker licensed in California (CA-DRE #01408122) with access to 240+ wholesale lenders, and based right here in San Jose, I help buyers across the Golden State find the best rate and the right program.
What are today's mortgage rates in California?
Today’s 30-Year Fixed (Conventional) Rate
Conventional – Primary Residence
Rate Assumptions
30 year fixed, $300k loan amount, $400k value, purchase, FICO Credit Score 759, Zipcode 95111
APR & Disclosures
The Annual Percentage Rate (APR) shown reflects the cost of credit over the loan term, including applicable fees, and is based on the assumptions above. Your actual rate and APR depend on your credit profile, loan amount, property, occupancy, and other factors. For information purposes only and does not constitute a loan approval or commitment to lend. Rates are subject to change without notice.
The California Price Equalizer: Same Rate as 40% Down
California's high-cost markets carry the steepest Loan-Level Pricing Adjustments in the country, the fees that normally penalize a smaller down payment. But there is a Fannie Mae rule that waives them entirely for first-time buyers under the area income limit, which in California's high-cost metros rises to 120% of Area Median Income. That means a qualifying first-time buyer with 3, 5, or 10% down can be priced the same as someone putting 40% down. We call it the Price Equalizer. In San Jose, the nation's highest limit, a household earning up to $177,643 can qualify, and many tech professionals qualify on base salary alone even when total compensation is much higher.
AMI figures are pulled from the current Fannie Mae area limits. Because AMI is address-specific, always confirm your exact limit for your address.
Estimate your Price Equalizer savings
Run your numbers below. By waiving the LLPA fees, which typically cost 1% to 2% of the loan amount, your monthly payment and cash to close drop significantly.
California Price Equalizer Tool
See if you qualify for LLPA fee waivers
Find California mortgage help in your region
From the Golden Gate to the Sierra Nevada, California is really many housing markets in one state. Explore the region and city closest to you.
Golden Gate Bridge
The iconic Golden Gate Bridge stands as a symbol of San Francisco's innovation and beauty. This world-renowned landmark defines the Bay Area's skyline and represents the region's engineering excellence.
Mortgage Market Insight
San Francisco Metro AMI Limit: $201,720
Median Home Price: $1.4M
Popular Loans: Jumbo, Conventional, FHA
Price Equalizer Savings: $10,000-$15,000+
Regional Advantage: Bay Area tech professionals can waive LLPA fees by qualifying on base salary alone
← Swipe to explore California landmarks →
Bay Area
SoCal Coastal
SoCal Inland
Central Valley
What loan programs are available in California?
California buyers have access to every major loan type, and the best fit depends on your down payment, credit, region, and property. Conventional loans need as little as 3% down and let you cancel PMI at 20% equity, with high-balance conforming limits up to $1,249,125 in the highest-cost counties. FHA loans work with 3.5% down and a 580 credit score, with FHA limits also reaching $1,249,125 in high-cost areas. VA loans offer zero down for California's 1.8 million veterans, plus CalVet benefits. Jumbo loans finance the luxury and coastal markets above the conforming limit. And first-time buyers under the area income limit can use the Price Equalizer for elite pricing regardless of down payment.
What down payment assistance is available in California?
California offers strong assistance through CalHFA, the state housing agency. The CalHFA MyHome Assistance Program provides a deferred junior loan of up to 3.5% of the purchase price to cover your down payment, and the CalHFA Zero Interest Program (ZIP) offers additional closing-cost help at 0% interest. These pair with FHA, VA, USDA, and conventional loans and are aimed at first-time buyers within county income limits. We also offer our own FHA down payment grant, which unlike CalHFA's deferred loans requires no repayment. And for first-time buyers, the Price Equalizer can deliver savings that rival a down payment assistance program by eliminating LLPA fees entirely.
How does buying in California differ by region?
California is really many housing markets in one state. The Bay Area and coastal Southern California are among the most expensive in the nation, where jumbo financing, the Price Equalizer, and careful structuring around the conforming limits matter most. The Central Valley, from Sacramento to Fresno to Bakersfield, is dramatically more affordable and is strong FHA and first-time-buyer territory. The Inland Empire (Riverside, San Bernardino) offers relative value within reach of the coast. And military communities like San Diego and near Camp Pendleton are among the best VA markets in the country. Because pricing, limits, and strategy shift so much by region, I tailor the loan to your specific California market.
Why choose Loans by Emmett for a California mortgage?
I am based right here in San Jose (CA-DRE #01408122, NMLS #233747), with more than 20 years in California lending and access to 240+ wholesale lenders. That means I can shop your loan instead of fitting you into one bank's box, whether you need Price Equalizer expertise, tech-income and RSU structuring, a deep jumbo network, or CalHFA and grant knowledge. Start with a California mortgage broker who knows your region, or get a real pre-approval before you shop.
California Mortgage FAQs
What is the California Price Equalizer?
What are California's 2026 loan limits?
Does California have down payment assistance?
What is the best loan for a California veteran?
Do I need a jumbo loan in California?
Explore California Loan Programs
Detailed guides for every loan program available in California, including 2026 loan limits, eligibility, and down payment options.
Why a California broker with 240+ lenders beats a single bank.
View detailsStart here with a real, region-aware pre-approval.
View details3.5% down, 580 credit score, limits up to $1,249,125.
View detailsZero down for California veterans, plus CalVet benefits.
View details3% down and cancellable PMI for stronger-credit buyers.
View detailsZero down in eligible rural and inland California.
View detailsLuxury and coastal financing above conforming limits.
View detailsReady to find your California loan?
Let's review your goals, your region, and your income structure to match you with the best rate and program. Most consultations take just 15 minutes.
From the blog & learning center
California Home Buying Guides
Can I use short-term rental income to qualify for a DSCR loan?
A DSCR loan can qualify you on the projected Airbnb or Vrbo income a property produces rather than your personal income, but only with a lender who accepts short-term rental income.
Read more
What does a VA renovation loan really involve?
A VA renovation loan lets an eligible veteran buy or refinance a home and finance non-structural repairs into the same VA loan with no down payment. The main hurdle is finding a lender who offers it.
Read more
How do investors qualify for a DSCR loan on rental income?
You qualify for a DSCR loan on the rental property income rather than your personal income, as long as that income covers the mortgage payment by the required ratio, with no tax returns or personal debt-to-income limits.
Read more
Can I buy a house after a recent late payment, collection, or charge-off?
Yes, you can often buy a home soon after a late payment, a collection, or a charge-off, as long as the rest of your file is strong and you can explain the event, because none of these carry a fixed waiting period the way a bankruptcy or foreclosure does.
Read more
Down Payment Assistance Programs by State
Most states offer some form of down payment assistance, and many buyers qualify without realizing it.
Read more
Down Payment Reality Check: How Much You Actually Need
You don't need 20% down to buy a house.
Read more