Should I Choose a 15-Year or 30-Year Mortgage in San Diego?
The Two Most Common Mortgage Terms The vast majority of San Diego home buyers choose between two loan terms: the 30-year fixed mortgage, which provides the lowest monthly payment, and the 15-year fixed mortgage, which pays off the loan in half the time at a lower interest rate but significantly high
What Is Private Mortgage Insurance and Can I Avoid It in San Diego?
What Is PMI and Why Do Lenders Require It? Private mortgage insurance is a monthly premium charged when a borrower's down payment is less than 20 percent of the purchase price. PMI protects the lender — not you — against losses if you default. It adds to your monthly housing costs and represents a r
What Is a Jumbo Loan and Do I Need One to Buy in San Diego?
What Is a Jumbo Loan? A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency — the amounts that Fannie Mae and Freddie Mac can purchase. In San Diego, the conforming loan limit is substantially higher than the national baseline due to high-cost m
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