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Sacramento Mortgage Rates

Updated: May 29, 2024

Compare today's rates for Mortgage Refinance in CA

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Mortgage rates for Sacramento, California go down to 3.00%

Wednesday, May 29, 2024

Mortgage rates for Sacramento, California on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Sacramento, California is now at 4.56%.

Sacramento Home Loan Programs

Interested in a buying a Sacramento home, and curious about your financing options? Explore everything from government-backed, VA, and first time homebuyer assistance loans to mortgage tax credits and more in Lender411's comprehensive guide to Sacramento mortgage. 

First Time Homebuyers

If you're looking for financing assistance for your first home, the Sacramento Housing and Redevelopment Agency (SHRA) is a local entity that facilitates the CalHome First-Time Homebuyer Mortgage Assistance Program.

CalHome First-Time Homebuyer Mortgage Assistance Program

Lower income homebuyers who plan to buy within designated areas of Sacramento County may benefit from financing aid through the CalHome program's deferred payment loan. The assistance manifests as a deferred interest loan in the form of a second mortgage:

  • Receive up to 20% of the home purchase price, or a maximum of $40,000.
  • 30 year fixed loan at 3% interest. 
  • Principal and interest are deferred for the loan term.
  • Funds are eligible for down payment or other mortgage financing assistance. 

The first mortgage may be FHA, CalHFA, or conventional. Homebuyers must also meet a number of eligibility requirements including:

  • Monthly housing debt ratio of no more than 38%.
  • First time homebuyer.
  • Owner occupancy.
  • Homebuyer education attendance. 
  • Income limits.

To learn more about income limits and your eligibility for Sacramento mortgage assistance through the CalHome program, visit the SHRA down payment assistance page. 

Mortgage Credit Certificates

The SHRA also offers the Sacramento Mortgage Credit Certificate (MCC) program, which allows qualifying homebuyers to receive a tax credit of up to 20% of the annual paid interest on their mortgage. The money saved with the MCC program will ideally help you keep up with monthly payments. The MCC will last as long as you live in the home. MCC may be used in conjunction with FHA, VA, and conventional loans. Income limits apply, and do not exceed $95,000 for a three or more person household. 

To learn more about income limits and your eligibility for the Sacramento MCC program, visit the official SHRA page for mortgage tax credits

Looking for information about FHA?

FHA loans are insured by the Federal Housing Administration, and have long been a favorite option for Sacramento first time homebuyers and homebuyers with smaller savings, thanks to their low down payment requirements and lenient credit standards. Take a look at current FHA loan facts and requirements:

  • Down payment, loan-to-value (LTV): 3.5%, 96.5%
  • Credit score minimum: Typically 580 or greater. 
  • Debt-to-income (DTI): Typically 45-50% or less. 
  • Upfront mortgage insurance of 1.75% the base loan amount is required. 

Annual mortgage insurance premiums of varying percentage are also required, and paid monthly. New FHA borrowers, however, will receive annual MIP rates of half a percent lower than the original rate, typically 1.35% (effective late January 2015).

Veteran or Military Homebuyers

VA loans are insured by the Department of Veteran Affairs, or VA, and available exclusively to veterans of the United States Armed Forces. They feature benefits seen in no other program:

  • No down payment required.
  • No mortgage insurance required.
  • Limited closing costs. 

In order to obtain VA financing, borrowers should have served at least 90 days of active duty and requested a certificate of eligibility (COE) from the VA. Eligible properties must be owner-occupied primary residences. Dishonorably discharged veterans are not eligible. 

To learn more about your VA home benefits or qualifying for a VA loan in Sacramento, visit


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