How to Qualify for a Home Loan in California

Wondering what it takes to qualify for a California home loan in 2015? You’ve come to the right place. This website offers a wealth of information about California mortgage lending standards, trends and requirements in 2015. It’s an educational resource for any home buyer or mortgage shoppers who is shopping or a home loan in the Golden State. And while you’re here, be sure to download our free e-book.

How the Mortgage Industry Has Changed

The mortgage lending industry has shifted considerably over the last few years. It has gone from one extreme to the other, and has now come to rest somewhere in the middle.

In the late 1990s and early to mid 2000s, mortgage standards were fairly lax. Those were the days when almost anyone could qualify for a California home loan. But then came the housing collapse, followed by a full-scale economic recession. In the wake of that mess, mortgage lending standards rose significantly. Suddenly, it was a lot harder to qualify for a home loan in California.

Today, in 2015, we are seeing signs of easing within the lending industry. Call it a return to normalcy. Mortgage qualification requirements will never revert back to the “anything goes” days of the housing boom (nor should we hope for that). New lending rules have been put in place to prevent such a thing. But it does seem to be getting easier for well-qualified borrowers to get a home loan in California. These trends, and the current standards resulting from them, are thoroughly discussed on our website.

How to Get a California Home Loan in 2015

So, how do you qualify for a California mortgage loan these days? What are lenders looking for? That’s what this website is all about. We have spent countless hours speaking to mortgage lenders, analyzing new lending rules, and studying market trends. As a result, we have a pretty good idea how to qualify for a California home loan in 2015.

In short: If you have a decent credit score (read “north of 600″), a manageable level of household debt, steady income, and a down payment of at least 3%, you can probably get a home loan in 2015. You’ll find a thorough explanation of these topics elsewhere on the website. Just know that they are not set in stone. There are exceptions to most rules and standards within the lending industry.

Free e-Book for California Home Buyers

We have created a free e-book for home buyers and mortgage shoppers in California. This book will help you make better-informed decisions when shopping for, and choosing, a home loan. It is an unbiased guide written by the consumer advocates and educators who created this website.

Our book explains how to qualify for a California home loan in the current economy, based on our informal surveys and conversations with mortgage lenders. It also explains some of the new rules the government has put in place to curb “reckless” lending in the United States.

Best of all, you can download the book for free to start learning about California home loans immediately. The guide is available in Adobe Acrobat PDF format, so you can save it to your computer and refer to it as needed. You can print the whole thing, or one section at a time. Or you can simply read it on your computer or tablet device to save paper.

Disclaimers: This website is provide for educational purposes and should not be viewed as financial advice. Every mortgage lending scenario is different because every borrower is different. Your situation may be different from those described on this website. We make no claims or guarantees that the information provided on this website will increase your chances of qualifying for a California home loan. We have provided this site to give you a general idea what lenders are looking for these days, in terms of borrower qualifications. There are exceptions to many of the rules and standards mentioned on this site.