Find Local Rates In California

One of the most desirable states to live in the United States is California. Unparalleled access to nature and a progressive lifestyle and business culture are some of the top-of-mind reasons why people are proud to live in this state. Who could forget that this is the state that is home to Apple, Google and Hollywood! California is the home of movie stars and tech entrepreneurs. Nowhere is American enthusiasm, ingenuity and optimism more alive than in the state of California. As of 2025, California's economy is the largest of any U.S. state and ranks among the largest in the world, spanning technology, entertainment, agriculture, trade and tourism.

Home values in California remain among the highest in the country. As of 2025, the typical California home is valued at roughly $750,000 to $800,000, according to Zillow's Home Value Index, though prices vary widely from the coastal metros to the inland regions. A home in California won't come cheap, but RateZip.com can help you find an affordable mortgage to make living in this beautiful state just a little bit easier.

The Cities of California

California is a big state - it is the third largest in America by area, and it is the most populous state in the United States, with an estimated 39.5 million residents as of 2025 (California Department of Finance). Many of California's biggest cities are already well-known, but we'll briefly cover them for prospective home buyers:

Los Angeles

Population: approximately 3.8 million (2024)

Los Angeles is both the largest city in California and the second largest in the United States. The City of Angels is home to Hollywood, basketball's Lakers, and many beloved tourist attractions. The LA economy includes the entertainment industry, high technology, tourism, and international trade.

San Diego

Population: approximately 1.39 million (2024)

San Diego, the second largest city in California, is frequently cited as one of the best places to live in the United States. The city is a large hub for the military and defense contracting, and a meaningful share of the local workforce holds a job tied to the U.S. military. The economy also relies on trade, biotech and tourism.

San Jose

Population: approximately 990,000 (2024)

San Jose, the largest city in NorCal (Northern California), is often referred to as the capital of Silicon Valley. Indeed, the city's ties to the tech industry run deep, and it hosts major technology employers along with the National Hockey League's (NHL) San Jose Sharks.

San Francisco

Population: approximately 830,000 (2024)

Known as the City by the Bay, San Francisco is one of the most beloved American cities, and tourism is vitally important to SF's economy. Popular landmarks include the Golden Gate Bridge and Alcatraz. A number of well-known technology and financial companies are headquartered in San Francisco, and the city remains a global center for tech and venture capital.

Fresno

Population: approximately 546,000 (2024)

Although it's a large city, Fresno is not as widely known as the four other California cities we've already mentioned. The areas surrounding Fresno are heavily involved in agriculture. In the city itself, the largest employers include the City of Fresno, area hospitals and health systems, and Fresno's colleges and universities.

Financial Institutions in CA

California is a large state, so naturally there are many banking options for consumers living here. Even Wells Fargo, one of the "big four" banks in the United States, calls San Francisco its home. Though it's not exhaustive, here is a list of banks headquartered in California:

• American Plus Bank
• Banc of California
• Bank of the Orient
• Fremont Bank
• Hanmi Bank
• Preferred Bank

Some of the largest credit unions in California include:

• SchoolsFirst Federal Credit Union
• Golden 1 Credit Union
• First Technology Federal Credit Union
• Patelco Credit Union
• Star One Credit Union
• San Diego County Credit Union
• Logix Federal Credit Union
• Kinecta Federal Credit Union
• Wescom Credit Union
• Mission Federal Credit Union

Don't worry if you're feeling a bit overwhelmed - you can use RateZip to compare offers from these and other financial institutions when you shop for your mortgage, auto loan, certificate of deposit (CD), and more!

California Mortgage Rates

For most folks in California, buying a home will be the largest purchase that they ever make. This makes finding the best rate on your home loan particularly important. RateZip.com makes it easy to find solutions and connects consumers with banks and lenders across the country offering competitive products and rates. Because rates change daily, it's worth comparing current offers before you decide. Whether you're buying or refinancing, you can compare rates on the following types of mortgages:

Fixed-Rate Mortgages

If you take out a fixed rate loan, you will have the same interest rate, and thus the same principal-and-interest payment, over the entire life of the loan. These are the most popular loans in America by a large margin, with the 30-year fixed being the most common. You can also obtain a fixed mortgage that matures in 10, 15, or 20 years.

Adjustable Rate Mortgages

Also known as ARMs, these loans begin with a fixed introductory rate for an initial period and then adjust periodically over the remaining life of the loan, which is typically 30 years. A common example is the 5/1 ARM, where the first number represents how long the introductory rate lasts (in years) and the second signifies how often the rate adjusts afterward (annually).

FHA and VA Loans

These are mortgages backed by the federal government - either the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs (VA). FHA loans are geared toward making homes more affordable for borrowers with lower down payments or less-than-perfect credit, while the VA's goal is to help eligible veterans and service members achieve homeownership. California first-time buyers may also want to explore programs from the California Housing Finance Agency (CalHFA), including its down payment assistance options such as the MyHome Assistance Program.

Jumbo Home Loans

Jumbo mortgages, which are loans for amounts above the conforming loan limits, are particularly relevant to California, where home values in many markets are among the highest in the nation.