What Credit Score Do I Need to Buy a Home in San Diego?
Credit Score Minimums by Loan Type Your credit score is one of the most important factors in mortgage qualification and rate determination. Different loan types have different minimum requirements, and the rate you receive within each loan type also varies significantly based on your score. Minimum
What Are Mortgage Points and Should San Diego Buyers Pay Them?
What Are Mortgage Points? A mortgage point equals 1 percent of your loan amount. Buying discount points means paying upfront cash to permanently lower your interest rate — also called buying down the rate. One point on a $700,000 San Diego mortgage equals $7,000. The strategy involves calculating ho
What Is an Adjustable-Rate Mortgage and Should I Consider One in San Diego?
What Is an Adjustable-Rate Mortgage? An adjustable-rate mortgage starts with a fixed interest rate for an initial period — typically 5, 7, or 10 years — and then adjusts annually based on a market index. The initial rate on an ARM is usually lower than the comparable 30-year fixed rate, making month
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