If you are residing in California and you are planning to buy a house, then you should look for the best mortgage rates available. Finding mortgage rates that are low can be quite difficult since there are lots of foreclosures making the rates go up. It has to take a little bit of work as well as research in order to obtain better rates. The efforts that you put in will result in savings later on.
One of the factors that you should do to get the best rates possible is to make sure that you have a good credit score. If you have this, then you can be approved of a loan right away compared to those with poor credit. While rates fluctuate depending on the economy, having good credit standing will contribute a lot in getting the rate that you want.
If you are presently renting or are waiting to refinance in California, it is ideal that you keep watch on your credit score. Make sure that you pay your credit card bills on time and that you can quickly repay loans. However, keep in mind that this is not enough. California has many lenders, so shopping around for the best one that can offer great rates is a must. Make sure that you compare rates from lender to lender. California mortgage rates can fluctuate all the time, so deciding when to make a loan is important.
As you try to peg down where you will get the best rates possible, look online for lenders in your area. Do your own research and really see what they can offer. Make phone calls to different companies or even to your friends who are California borrowers with good credit to see which lender gave them a good rate and where they turned for refinancing.