Welcome to Our San Diego Real Estate Website!
Determining what homes fall into your range of affordability is a simple process for any knowledgeable loan officer. Many factors are considered, including your monthly income, debts, assets, and current interest rates.
After taking your loan application and running your credit, your loan officer will compute the interest rate that you qualify for. Your credit score, the type of property you are buying, and the type of loan program all change the interest rate you will get. In addition they will calculate your debt-to-income ratio (DTIR), which is calculated by dividing your monthly income by your monthly payments. A good debt to income ratio will be below 40% - although many loan programs allow for slightly higher ratios.
Using your debt-to-income ratio and your interest rate, your loan officer can calculate the new mortgage payment that you can qualify for, and then what home price you can start looking for!
We can put you in touch with some highly recommended loan officers who will get you pre-approved for your new home. Please contact us to get the process started!
Home Prices Up for 12 Months
Fri, Mar 22: With more great statistics supporting the recovery of the real estate market, the National Association of REALTORS® reported yesterday that home sales have been up for 20 consecutive months, and home prices have been up for 12 consecutiv... More
Foreclosure Numbers Continue to Drop
Thu, Feb 28: January ended with a 28% decline in foreclosure filings since January 2012, and the number of notice of defaults, auctions, and repossessed homes continues to fall. The housing market shows signs of recovery, and overall, the number of foreclosures i... More
How to Beat Cash Offers
Thu, Jan 24: A recent interview with GSDAR President Linda Lee inspired me to write a few tips for my clients about beating cash offers in multiple-offer situations. Many of my buyers find themselves in multiple-offer situations these days, also called "bi... More
Short Sale Tax Relief Extended Through 2013
Thu, Jan 03: The Mortgage Interest Deduction and the Mortgage Debt Forgiveness Act survived last minute budget cuts, and will extend through 2013. Both laws were considered by Congress and the President as they looked for ways to cut spending for 2013. Discontinu... More
Mortgage Rates Improve with Fiscal Cliff Rumors
Sat, Dec 22: Mortgage rates increased slightly on Thursday, then ended the week in the low 3% range, with many prominent lenders closing loans as low as 3.125% on 30 year fixed mortgages. These rates represent historic lows, making home ownership extremely afford... More
Senate Committee Backs Short Sale Tax Relief Bill Extension
Tue, Oct 02: WASHINGTON — Here's some encouraging news for financially stressed homeowners across the country: The Senate Finance Committee has approved a bipartisan bill that would extend the Mortgage Forgiveness Debt Relief Act through 2013. Why is ... More
