We offer low Merced, California mortgage rates for both purchase and refinance transactions. If you are looking to purchase a home in the Merced area or if you are looking to refinance your current home loan interest rate, please be sure to contact me directly for a no-cost/no-obligation quote.
|30yr Fixed Rate||6.375%||6.591%||Request|
|25yr Fixed Rate||6.375%||6.618%||Request|
|20yr Fixed Rate||6.25%||6.398%||Request|
|15yr Fixed Rate||6.125%||6.365%||Request|
Merced, California Home Loans
Home Loan Information To Save You Time and Money
From first-time homebuyers to experienced real estate investors, this section of my website is for you.
Our easy-to-use mortgage calculator will help you figure out your monthly payment and more.
Are you looking to refinance your current home loan? Then this section will show you your options.
USDA Home Loans
The USDA home loan program is the perfect mortgage option for people living in rural communities across the country.
FHA Home Loans
FHA home loans are great for first-time homebuyers and/or those with less-than-perfect credit. Refinance or purchase.
VA Home Loans
VA home loans are for military members that currently serve our country, who previously served, and their families. A great program!
How To Find The Best Mortgage Rates In Merced
If you are buying a home in Merced or if you are refinancing your current home loan interest rate you’ll obviously want to lock in the best mortgage rate available.
So the big question is, how do you do that?
I suggest following these simple rules to make sure you obtain the best mortgage rate.
Five Steps To Obtaining The Best Mortgage Rate:
- Find a reputable mortgage company that offers low-rate mortgages in Merced.
- Work with an experienced Loan Officer (at least 5-10 years of experience).
- Ask questions, lots of questions are good!
- Avoid too-good-to-be-true quotes.
- Make sure you find out what the total fees are (for everything).
Following these five steps will help you secure the best possible mortgage rate.
MercedConforming Loan Limits
The 2023 Merced conforming loan limit is $726,200. Below are the home loan limits for one to four-unit properties in Merced.
The one-unit Merced conforming loan limit is $726,200. Primary, secondary, and rental properties.
The two-unit Merced conforming loan limit is $929,850. Primary, secondary, and rental properties.
The three-unit Merced conforming loan limit is $1,123,900. Primary, secondary, and rental properties.
The four-unit Merced conforming loan limit is $1,396,800. Primary, secondary, and rental properties.
Merced Mortgage Broker
A reputable Merced mortgage broker is someone who can obtain the best home loan rates in Merced and provide exceptional customer service. A trusted mortgage broker will have years of experience, access to a wide variety of home loan programs, and a top rating with the Better Business Bureau, Zillow, and more.
Providing important and useful information to their clients is a key attribute as well. Here are four informative articles I believe every home loan applicant should read.
To Buy A Home
If you are getting ready to purchase a home you’ll want to read this article. It will give you detailed information about the documents you need to buy a home.
If you are refinancing your current home loan interest rate then this article is for you. It will give a list of documents you’ll need to refinance your mortgage.
When you buy a home you’ll want to complete a Home Inspection. In this article, you’ll get all the ins and outs of a Home Inspection.
If you’re buying a home or refinancing your current home loan interest rate then be sure to read my Home Appraisal article.
Home Loan Pre-Approval
Here are the basic guidelines for obtaining a pre-approval with a home loan lender. To obtain a home loan pre-approval you’ll need to complete a loan application form, submit the requested documentation, and allow the Loan Officer to obtain a copy of your credit report.
Four Basic Guidelines
- Debt-To-Income ratio 50% or below
- Down payment of 3% or more (VA home loan 0% down)
- Credit Score of 620 or higher
- 1-4 unit residential property
Every mortgage lender is different so it’s important to keep in mind that this is not a guarantee you will receive a home loan pre-approval from a mortgage lender if you meet these four basic guidelines. Some home loan lenders require a lower debt-to-income ratio, a higher down payment, and/or a higher credit score.
When you move forward with the pre-approval process it’s important you provide accurate information on your loan application and the exact documents your Loan Officer is requesting. The pre-approval process should only take 24-48 hours to complete once you have your loan application completed and all your documentation submitted.
Once the pre-approval is complete the Loan Officer will issue you a “pre-approval letter” if you are buying a home. For homeowners that are refinancing their current home loan, the Loan Officer will prepare the file for underwriting.