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San Diego Loan Officers - Refinancing Your Mortgage

San Diego Loan Officers – Mortgage Refinancing

Are you planning some major updates or renovations to your home? Are your children getting ready to head off to college? Or are you interested in purchasing a vacation or investment property?

If you said yes to any of the questions above, you are probably looking for ways to get your hands on some much-needed capital. We all know how hard it can be to save up large amounts of money or to earn extra money to pay for these additional expenses.

Another option may be refinancing your mortgage.

Of course, this option needs to be considered very carefully and discussed in detail with your trusted San Diego loan officer, but it could be the perfect solution for your financial situation.

If you are a homeowner, a mortgage refinance can be done to access some of the equity you have built up in your home over the years, to lower your interest rate, or to adjust your monthly payment schedule.

The first thing you will need to do is to determine your overall financial goals. Depending on what these goals are, you may or may not decide to refinance your mortgage. Your mortgage professional will take your current situation and future goals into consideration when they help you decide if a refinance is the best option for you. There are a few other factors that can also affect this decision, such as the current value of your home and your current credit score.

With a mortgage refinance, your lender will be creating a new mortgage contract for you and then dispersing the funds for your new loan. Those funds will be used immediately to pay off your previous mortgage, so you will still only be responsible for paying off one mortgage.

While a mortgage refinance may lower your interest rate and/or monthly payments, it is important to remember that there can be additional fees associated with refinancing your existing mortgage.

You will essentially be going through the mortgage process again – applying for a new loan, going through the approval process and closing on your loan – so all of those same fees will apply again now.

If you have questions about refinancing your mortgage, give us a call today! We are here to help you refinance your American Dream.

Mortgage San Diego - August Market Update

Mortgage San Diego – August Market Update

According to the most recent report from the California Association of Realtors, the median sales price of homes in the San Diego area rose by a whopping $250 from June 2017 to July 2017.

This tiny increase in home sales prices is not surprising given the trend of stable prices at the end of the summer that begins to drop as the year comes to an end. This year is proving to be no different than the years previous, so buyers can continue to look forward to prices dropping as we head towards fall.

While the median price of homes in the San Diego area went up less than 1% from $612,750 to $613,000, the number of sales dropped over 16% between June and July this year. When the number of sales for the month of July this year are compared with those of the same month last year, we see a much smaller decrease of only 3.1%.

When the California Association of Realtors released this report, there was a total of 2.9 months of supply left on the market. This amount of unsold inventory is 12.9% less than July of last year, but 16.5% more than June of 2017.

San Diego homes are selling fast, with the average home staying on the market for only 20 days before being sold. This hasn’t changed much over the last few months, but it is about 7% lower than the time on market for July of 2016.

If you are interested in purchasing a home in the San Diego area, now is the time! We recommend that you begin your mortgage process now so you are ready to take advantage of the lowest home prices of the year!

Give us a call today to setup your mortgage consultation and to get started on your pre-approval today!


San Diego mortgage

Top Reasons to Buy a Home

Are you struggling to make the decision between purchasing your own home or continuing to rent from someone else? If so, you are not alone!

Tons of people are faced with this important decision every day and as San Diego mortgage professionals, we are well aware of the different aspects that make this decision so difficult.

Making the decision to purchase your own home can feel like a risky move, but with the right professionals on your side, it doesn’t have to be. There are many advantages to buying over renting, and we would like to share some of those with you.

From design freedom to financial benefits, check out these top reasons to buy a home:

Design Freedom – When you own your home, you are no longer restricted by the policies of a landlord. You will have the freedom to paint and decorate your home the way you have always pictured. You will also have the freedom to make improvements on your home without clearing them with someone else first. A bonus is that these improvements may even add value to your home when it comes time to sell.
Community and Stability – If you are currently renting, you know that your landlord can choose to raise the rent as time goes on, making your home more and more expensive to live in. This is often a cause for many families to relocate to a more affordable living arrangement. Buying your own home with a fixed rate mortgage means the payments for your home will not increase over time and you will be comfortable staying in the same home for years to come. This is especially important if you have young children, who will thrive on the increased stability and sense of community that comes with living in the same place for an extended period of time. Not to mention the memories your children will have of their one childhood home.
Financial Benefits – Whether you are purchasing a home for the tax benefits or because your mortgage payment is lower than what you would be paying for rent, there are countless financial benefits to buying your own home. Building equity in your home is a great investment for your future and the future of your family and the only way to build this equity is to purchase your own home.
Instead of investing in someone else’s future by continuing to pay off their mortgage, why not purchase your own home and feel the pride that comes with homeownership.

Give us a call today at (619) 271-3818 to discuss your mortgage options and find out how we can help you finance your American Dream!


San Diego Mortgage Rates

San Diego Mortgage Rates – San Diego Market Update

There are many factors that can influence San Diego mortgage rates, including local and national trends and real estate market statistics. These statistics can have an effect, not only on the interest rate you may qualify for but also on the houses that are available on the market in your price range.

Just like the weather, the San Diego market has continued to remain hot throughout the last few months and June is no exception.

A reputable real estate website has reported that, as of the end of last month, the median sales price across all property types in San Diego was $535,000. To reach this current price, the median price of homes in the local area has been rising at a slow but steady pace since it hit its lowest point of $508,000 in January of this year.

We have broken down these differences in median sales prices, based on the size of the homes being sold, to give you more specific data that should help in your search.

One bedroom homes in the San Diego area were selling for a median price of $312,000 at the end if June this year. This price is up 9.8% from the median price a year ago, which was recorded at $284,250. The three-month difference in median prices is quite similar to the year over year difference. Three months ago, the median selling price was $285,500, only $1,250 higher than last June.

Two bedroom homes have been selling for a median price of $435,000, which is a 6.4% over last June. This median price is also an increase of $10,000 over the median price of $425,000 that was recorded three months ago.

Three bedroom homes saw the least significant price increases when compared to homes of other sizes. In San Diego, three bedroom homes were selling for $585,000 – only 5.2% more than last year.

The median selling price of four-bedroom homes went from $710,000 a year ago, to $685,000 three months and has now reached $759,599. This 7.0% increase, year-over-year, is very similar to the overall year-over-year increase of 6.9% when the median selling price is considered across all home sizes.

If you are interested in purchasing a home in the San Diego area, give us a call today! We can’t wait to help you finance your American Dream!

San Diego mortgage lender

San Diego Mortgage Lender – Top Mortgage Myths

As you begin your search for the perfect home and the perfect financing options to go with it, you will be encountering a wealth of information. As a San Diego mortgage lender, we understand that with the vast amounts of information available on the internet today, it is difficult to know what is accurate or even relevant to your situation.

That is why your best bet is to contact a trusted mortgage professional before you even being the search for your home. They can walk you through the entire process, providing education and guidance along the way. We have learned the importance of working with our clients to help them understand and feel comfortable with the mortgage process. We have also learned that many people won’t feel comfortable without doing research before reaching out to a professional in the industry.

With those individuals in mind, we have compiled a list of common mortgage myths and the truth behind them.

You HAVE to put 20% down to purchase a home

While typically, putting down a larger amount as a down payment can lessen your monthly mortgage payments or shorten the life of your loan, leading to savings in the long run, a 20% down payment is not a requirement to get approved for a loan.

There are minimum requirements, though, that will need to be discussed, but there are plenty of options available to fit a variety of budgets.

The lowest rate is the best rate.

Having an incredibly low rate may seem fantastic, but there are other aspects of your mortgage than need to be considered in order to evaluate whether or not your low rate is really the best rate. Some financial institutions will tack on extra fees that end up raising your supposedly extra low rate.

When you are locking in your rate, be sure to review the entire mortgage to ensure you are not paying the difference you would be saving somewhere else.

Fixed-rate mortgages are always better than adjustable-rate mortgages.

There are many cases where a fixed-rate mortgage would be the better option for a certain borrower, but there are just as many cases that go the opposite way.

Let’s say, for example, that you do not plan on living in your home for the entire period of your loan. In this case, an adjustable-rate mortgage may be the better option. Of course, there are other factors that must be considered before making a final decision, such as the market trends and current interest rates.

While these are just a few of the most common mortgage myths, we have we have saved you from a bit of headache and helped you to see that the mortgage process doesn’t have to be as complex and intimidating as many people make it out to be.

If you would like more information about your mortgage options, or have questions about more mortgage myths, give us a call today at (619) 271 – 3818!


Market Update – May 2017

San Diego Mortgage rates can be influenced by the local real estate market, just as the local market can, in turn, be influenced by current interest rates. This is why we are committed to providing our clients with the information they need to stay updated on the local market as they move through the mortgage process.
There is great news all around this month!

Home prices in San Diego have remained stable, increasing at a healthy pace over the last year. In March of 2017, homes were selling at an average price of $571,000. This figure it only up 2.0% from $559,950 the month before. When the home prices that were recorded this March are compared to the prices recorded in the same month of last year, there is again only a small increase of 3.8%.

What makes these stable home prices so much more impressive is that they are continuing to follow their healthy trend, even amid significant increases in demand.

Between February and March of this year, the volume of home sales increased by almost 43%. This is incredible given that there was only an 8.2% difference in volume year over year for the month of March.

So far this year, the median selling price of homes in La Mesa has been recorded at roughly $50,000 less than the median price in San Diego.

This information may just look like a bunch of numbers, or it may have been exactly what you needed to make your final decisions about your home purchase. Either way, we are here to answer any questions you may have about the local market or the mortgage process.

Whether you are interested in taking advantage of the healthy San Diego market, or the slightly lower prices of La Mesa, look no further! We know that homeownership is the ultimate American Dream and we want to help everyone achieve it!

Give us a call today for more information or to set up your free mortgage consultation! We can’t wait to help you finance the home of your dreams!



How To Get Your Loan Approved

In my years of experience working with clients on their home loans San Diego, the most common questions I receive from clients are in regard to their loan approvals. Everyone wants to know how to make sure their loan will get approved, or at least how to make sure it is more likely.

While every client’s situation is different, there are a few general tips that I give to my clients who are concerned about whether or not their mortgage application will get approved. These tips include things like checking and working on your credit score, asking the right questions, knowing your limits and having access to cash.

One of the most important factors when it comes to getting approved for the loan you want is your credit score. This figure typically ranges from 350-850 and is basically a sneak peek into your current financial situation. Your credit score is used as a focal point in the approval process of your loan because it indicates the likelihood you will be able to successfully pay back your loan.

If your credit score isn’t good, don’t worry! There are things you can do to improve it. It is a good idea to check your credit score before beginning the home purchase process because you will be more prepared going in. By checking your score in advance, you will know what areas of your credit need to be worked on and can possibly have time to fix those issues before you apply for your mortgage, which can dramatically increase the odds of an approval in your favor.

If you have been doing research on your own or find out about a loan option in your discussions with your broker that you are seriously interested in, ask them right away about what you need to know or do to qualify for that loan. Every type of home loan has different financial requirements and timelines, so it is important that you find out about this information as soon as possible.

When you are considering your loan options, be realistic about your goals and your current financial situation. It is important to keep your financial limits in mind and not to get caught up in the process.

Another important tip is having access to enough cash for your down payment and any other associated closing costs. Each loan requires a different amount for a down payment, so that is another great question to ask when you are discussing eligibility and requirements of the loans you are interested in with your mortgage broker.

Whether you are a first-time home buyer or someone interested in refinancing your existing mortgage, be proactive about the steps I mentioned above and you will be well on your way towards getting approved for the home loans San Diego that you need for the purchase of your dream home.

Call me today for more information or to apply for your pre-approval!


San Diego Market Update – March 2017

As a San Diego loan officer, I believe part of my duty to my clients is to keep them informed on the local real estate market and trends so they have a better ability to make educated decisions where their home and financial goals are involved.

The data that has been collected for this post can be used to take a better look at the local market and towards understanding the impact of market statistics on the mortgage rates and options that are currently available.

According to the California Association of Realtors, the San Diego market has remained strong through the end of 2016 and into the beginning of 2017.

The most recent report for San Diego county shows that as of January, the median home sales price was $550,000. The price of homes did rise quite a bit back in 2015 but since hitting its peak and dropping again between May and June of 2016 has remained relatively consistent. The median has only risen 3.8% in comparison with January of last year and is currently down 3.2% from where it ended up in December 2016.

As a result of these strong pricing statistics, home sales figures, although decreasing a considerable 25.3% between December and January, have increased from year to year.

The amount of unsold homes was at an inventory of around 3.6 months at the end of which is down 40.1%. This means there are a lot fewer homes available for sale at this point in time, which could lead to increased competition. Any increase in competition with undoubtedly has an impact on the prices of homes.

If you are in the market to purchase a San Diego home, now is the time to buy! Before the market starts getting too hot and ends up becoming unaffordable for some borrowers.

It is important to stay informed, whether you are in the market to purchase a home or have been considering refinancing your current loan on consolidating any debt you may owe. All of these products and services are influenced by local market trends and rates.

My job is to help you translate this information into useful knowledge that will assist you in the mortgage process. For more information, call me today at (619) 271-3818 and let’s get to work on financing your American Dream!


American Financial Network, Inc. is licensed by the California Department of Business Oversight under the Finance Lenders Law License (603I415) and holds a CA Bureau of Real Estate, Real Estate Broker’s License (01317581) under Nationwide Mortgage Licensing System (NMLS), unique identifier of 271716. Broker is performing acts for which a license is required. Refer to and input NMLS #237341 to see where AFN is a licensed lender. In all states, the principal licensed office of American Financial Network, Inc. is 10 Pointe Drive, Suite 330, Brea, CA 92821; Phone: (714) 831-4000 (NMLS ID#237341). This is not an offer for extension of credit or commitment to lend. All loans must satisfy company underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. The content in this advertisement is for informational purposes only.

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