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Have you been California dreaming? Maybe you see yourself up on the big screen, and your footprints set along the Hollywood Walk of Fame. Perhaps you picture yourself catching waves or a tan at a fabulous Malibu beach. California seems to have it all: year-long mild temperatures, palm trees, and a laidback lifestyle. With the help of California home mortgage lenders, though, you won't have to settle for California dreamin' for long. You, too, can live that California dream in your own home!

Bad News before the Good

In recent years, the Golden State's cost of living has steadily increased, with San Diego and Los Angeles becoming some of the most expensive U.S. cities to reside in. So many Californians have packed up and relocated to other states. Not all of the news is bad, however. California has the largest Gross State Product, or GSP, in the entire United States. Also, the Golden State has several regions, including Silicon Valley, Napa Valley, and Hollywood, which are vital to the nation's economy. Moreover, the state's average personal income ranks in the top quarter of the country. In fact, the housing industry is alive and kicking in California. In 2005, it accounted for nearly $70 billion and 490,000 jobs state-wide.

Cooling Off, California-Style

Experts believe the housing market around the country has started to cool. That trend can be observed in Southern California, where more homeowners are pursuing "mortgage debt forgiveness." This happens when home prices drop and the property's value is less than the mortgage debt. These "short sales" are used to avoid home mortgage foreclosure. Foreclosure occurs when California home mortgage lenders must sell your home due to your failure to comply with the mortgage agreement. Note, however, that the growing use of "short sales" should not scare you from contacting California home mortgage lenders about a loan. A "short sale" can put you in charge if you ever need to cut your losses.

Numbers, Numbers, Numbers

Before doing business with California home mortgage lenders, you should first look up the rates and Annual Percentage Rates, or APRs, of various California mortgages. Put yourself in the driver's seat by filling out a short form to get the mortgage rates of several California home mortgage lenders. Some popular types of mortgages in California include the 30-year fixed, 5-year interest-only mortgage and the interest-only, 30-year fixed mortgage.

Let the Directory Direct You

Use a mortgage directory to get the mortgage rates of hundreds of companies. After finding the company with the perfect fit for your mortgage needs, give the company a ring. A ring will put you well on the way to making your dream a reality.

When Enough Is Enough

An issue that you must determine after contacting a California home mortgage lender is how large of a mortgage you should take out. Although California's housing market is cooling, it is not completely ice-cold. Banks consider how much of a mortgage is within your budget, so you should think about this before borrowing as much as you want. Several online companies provide a mortgage calculator, so you don't have to pluck figures out of thin air. Based on how large your loan is and its interest rate, the calculator determines the monthly payment you'll have to make to a California home mortgage lender.

Truly, with California home mortgage lenders at your beck and call, there's no reason for you not to be living the California dream. With the right loan, you can live large and live in leisure in California.