Santa Barbara Home Loans
Purchase, Home Equity & Refinance

Santa Barbara residents enjoy low rate offers for jumbo home financing and second mortgage refinance loans. Local homeowners can access special incentives with reduced interest rates for local residents with no cost credit lines and 80-20 purchase mortgages.

Nationwide offers California homeowners jumbo home financing with second mortgages, 100% home equity loans, and zero down home purchase options for homeowners in Southern California with all types of credit.

California property experts anticipate home values in Santa Barbara to remain steady, so we suggest you consider tapping your home's equity with a 2nd mortgage if you need cash. Real Estate evaluators are forecasting property values in Santa Barbara to increase between 2 and 3% in 2007 and 2008. Because of the uncertainty of future of home prices, many homeowners will be considering refinancing.

Whether you are purchasing a home in Carpentaria, Goleta, or Santa Barbara we offer subordinate loans for purchase or refinance. If you need help with a "Zero Down" 80-20 combo loan, then you have found the right lending source.

Nationwide Mortgage Loan Company Press Release

Second Mortgage and Home Equity Loan Compatible with the Controversial "Pick a Payment Loan" Nationwide Mortgage Loans introduces a second mortgage loan that can subordinate to 100% behind a negative amortization first mortgage. This new home equity feature opens the doors for many homeowners who have found it very difficult to get a second mortgage or home equity loan that is compatible with a first mortgage that has a negative amortization. Download this press release as an Adobe PDF document.

Jumbo Home Loan Financing with Increased Loan Limits
Increased mortgage limits. Now borrow up to $3,000,000 for 1st mortgage liens. Get additional cash out with concurrent home equity loans that can close simultaneously. Qualify for a 100% jumbo home mortgage even if you have no equity.

Santa Barbara's Home Equity Moves Like Roller Coasters
By Nick Rian

Santa Barbara's housing market riding the rollercoaster as interest rates climb.
The trend mirrors what economists predict each time the interest rate rises. As rates climbed, sales dropped and as rates fell, home sales grew.

The latest statistics from the California Association of Realtors shows housing sales in Santa Barbara dropped during the first quarter with a spike in March then dropped again in April. Sales stabilized in May and held fairly steady until a bump up in August.

The trend reflects a rising mortgage interest rate from January till June, as the Federal Reserve hiked the prime interest rate more than one point. Mortgage rates started to fall in July and continue down through August. "Mortgage interest rates continued to edge up for the fifth consecutive month in June, contributing in part to a slowdown in sales," said C.A.R. Chief Economist Leslie Appleton-Young.

"June 2006 was the first time since late 2001 that the sales pace fell below 500,000 for two consecutive months. Home sales declined 26.3 percent last month compared with June 2005, when they hit the third-highest monthly pace on record."

Sales figures showing a drop in sales when home prices jumped. The median sales price of a Santa Barbara home rose and fell between $796,880 in January and $636,900 in July. As interest rates continued downward in August, sales jumped 26.5% and the median home price also peaked at $835,230.

Nationwide recommends securing a low rate refinance and home equity loans with fixed simple interest amortization. We offer loans for residents in Santa Barbara County seeking cash or simple rate and term refinancing. We offer cutting edge mortgage programs for Southern California homeowners who need to access money, but prefer not to pay off their existing mortgage in the process.

Don't wait any longer, Call 1-800-242-6986 to speak with a seasoned loan professional live. We offer a helpful consultation that includes a free loan quotes with no obligation.