San Diego Home Loan Rates have been steady recently. Currently with FHA 30 year fixed mortgage rate at 3.75 and Conventional loan rates being at 4.25 show that market rates are low. Next month rates can either increase or drop depending if outside investors from other countries who purchase the current loans will dictate the interest rate.
Future home buyers, I’d love to share with you a variety of different loan programs out there that will help and assist buyers with funding. Some loan programs are grants that will allow a buyer to purchase a home up to $415,000. Another that I recently learned about is Cal Home Program, which offers home buyers assistance. Each loan program is created for different types of buyers and based on what their income is. For more information, contact us.
As far as current homeowners, it’s a great time to refinance your property since property values have increase and interest are low. We have been seeing an increase of homeowner’s refinance their properties in order to adjust their loans or cash out. We’ve also seen more homeowners wanting to downsize and purchase a smaller home with the equity that they have made from their property/properties.
If you think that you owe more then what your home is currently worth in today’s market, I high suggest you contact me immediately. Do not pay attorneys to do loan modifications on your property or charge you for work that has not been started or complete. Many homeowners fall into a trap where they will pay an outside company/attorney to modify their loan and never get anything in return. Working with distressed properties is all about timing and you don’t want to wait too long before it’s too late.
If you would like information regarding today’s mortgage update blog, call me today or send an email and I’ll contact you.
[email protected]
(619)254-6066