San Diego Lenders for Purchase, Home Equity Loans and Mortgage Refinancing

Get help finding San Diego mortgage companies that offer discounted home loans with low rates on VA, FHA, jumbo and conforming programs. Our San Diego lenders provide equity loans and 100% VA refinance loans to homeowners with no money out of pocket. The good news for consumers in Southern California is that HUD finally raised the home loan limits significantly for FHA and conventional loans in San Diego County. Our company will do it's best to help you get approved for unique purchase money and home equity loans at a discounted interest rate. Check local rates and pricing incentives that may include additional fee reduction offers. Ask about our "No Cost Home Loans" for people home buying and refinancing in San Diego.

Compare Home Loans with San Diego Lenders Offering the Best Mortgage Rates Today

 

Home Equity Loans for Cash
Discounted Cash Refinance Loans for San Diego Homeowners. Home Equity Loan Rates have dipped below 4% for the first time ever.

Our local San Diego lender recommends refinancing your mortgage loan if your San Diego home is carrying an adjustable interest rate. Interest rates dropped again and with the new FHA home loans you may qualify to refinance into a fixed rate loan even if you have fallen behind on your mortgage payments.

California Mortgage Rates Hit Record Lows

Borrowers across Southern California have struggled with deflating property values, because with no equity traditional loans are taken off the table for refinancing. FHA refinancing allows rate and term refinancing to 97% and VA borrowers can finance up to 100%. HARP enables borrowers to refinance regardless of their loan to value.


Qualify for the Best Rate Home Loan from a San Diego Lender That Meets Your Needs

We specialize in high LTV home refinancing, loan modifications, FHA home loans and home equity credit lines for Southern California borrowers with good and bad credit. We provide jumbo home purchase loans to San Diego residents seeking the lowest interest rates and best terms for residential financing in California. Since the foreclosure crisis began in 2007, home equity loans have become next to impossible to qualify for, so many San Diego homeowners have shifted to FHA home loans for refinancing into a fixed rate mortgage and because cash out was available to 95% for refinance and debt consolidation. In 2017, people can still use government financing but FHA only allows cash back with 15% equity in their house. (85% LTV MAX)

New California FHA Mortgage Limits
San Diego homeowners will benefit from increased mortgage limits that exceed the old conforming limit of $417,000 and rise to $697,500 for single family homes in high cost neighborhoods in San Diego County. The updated 2015 FHA loan limits for San Diego County can be viewed below by county. FHA rates have fallen to record levels again.

MSA Name

County Name

State

One-Family

Two-Family

Three-Family

Four-Family

SAN DIEGO-CARLSBAD-SAN MARCOS,

SAN DIEGO

CA

$697,500

$892,950

$1,079,350

$1,341,350

Our FHA mortgage lenders continue to operate at our headquarters located in America's finest city, San Diego, California. Find out why consumers continue to come back to our San Diego FHA lenders. Could it be that we provide competitive low rates to qualifying homeowners who meet the FHA lending guidelines? HUD kept the San Diego mortgage maximum limits for 2017 and the loan changes can be seen above.

Let our home loan experience pay dividends to your online loan shopping. Get the best home purchase and refinance loans with special incentives for CA homeowners living in San Diego County: From Oceanside to National City, our San Diego lenders offer local residents premium rate pricing so that you can maximize your home financing budget.

Low Rate San Diego Mortgage Offers for Refinance & Home Loans

Industry experts expected home values in San Diego to remain sluggish in 2010, as many Realtors continue to report that many inland areas in South and North County are experienced a reduction in home values due to the high gas prices and a significant increase in home foreclosures.

We have had many local homeowners mention that their bank recently froze their credit lines un-expectantly even though the borrowers reported that they were never late on the home loan payments. If you presently have a credit line and believe you will need to access the credit line in the next few years, we strongly suggest getting the cash now before it's not available. The other recommended option is refinance loan that includes cash coming back to you if you need money or if you are carrying a lot of high rate credit card debt.

San Diego Lenders

Real Estate evaluators are forecasting property values in San Diego to drop 10% to 25% over the last few years. Because of the uncertainty of future of home prices, many homeowners will be refinancing if they have a home loan featuring an adjustable rate.

  • San Diego VA Loans
  • FHA Home Loans in San Diego

Many local residents have been reporting an increase in their monthly payments because the interest rate converted to a variable rate this year.


San Diego County Home Value Update

Nationwide offers low rate home refinance loans for borrowers in San Diego County. Property values are dipping in some areas of SD county, but home values in La Jolla, Del Mar, Encinitas, Carlsbad, Point Loma and Mission Hills are maintaining minimal price reductions but home sales have been slow across Southern California.

San Diego Home Equity Market Update

San Diego Home LoansAs the prime interest rate continues to climb, thousands, of homeowners in the bay area are watching their adjustable rate interest only mortgages eat away at their bank accounts. People from Coronado to Carlsbad are searching for quick solutions for their million-dollar jumbo home loans. Many of these homeowners have negative amortization loans that are adjusting their balances each year.

In the past years, record low mortgage rates enticed many home owners to take advantage of adjustable rate interest only loans. With the national credit crunch and tightening of lending guidelines, it has become a priority for most San Diego homeowners to lock into a secure mortgage with a guaranteed fixed interest rate.

In San Diego, payment option loans have almost become standard real estate financing. 74% of San Diego county mortgages are either interest only or payment option mortgages.

Rise in Hard Money Loans for Preventing Foreclosures

Private money lenders have reported a significant increase for hard money loans in Southern California, with Riverside and San Diego counties leading the way. Nationwide offers fixed rate hard money loans and home equity credit lines for San Diego borrowers. There is no property inspection fee! We have partnered with private investors who are offering San Diego borrowers a 2% rate reduction if they make their 1st payment on time. If you have fico scores below 580 and you have some equity in your home consider a hard money loan for quick cash and a short term solution. We have options for "no pre-payment" penalties for qualified applicants.


Our San Diego lenders offer both home equity and refinance loans with fixed or adjustable interest rates. We offer loans for residents in north and south San Diego county seeking cash or simple rate and term refinancing. Check out our wide variety of home equity programs for homeowners who need to access money, but prefer not to pay off their existing mortgage in the process.

A Few Common Reasons for San Diego Homeowners Getting Second Mortgages:

  • Refinancing Current Adjustable Rate
  • Additional Tax Deductions
  • Elimination of Mortgage Insurance
  • Debt Consolidation of High Rates
  • Furniture for New Homebuyers
  • New Home Construction
  • Financing a Start-up Business
  • Purchase a Vacation Home in Mission Beach
  • Installing a Swimming Pool
  • Remodeling your Home

Fixed rate mortgage refinancing up to 100% for San Diego Military Veterans and 97% for other people.

First Time Home-buyers OK.
Credit Rating: Poor, Fair Good or Excellent.
Key Qualifiers: property value, credit score, and stated income OK.

Whether you are purchasing a home in La Jolla, Encinitas, Oceanside or downtown we offer subordinate loans for purchase or refinance.

If you need help with a "Zero Down Home Loan" 80-20 combo loan, then you have found the right lending source. Don't wait any longer, call to speak with a seasoned loan professional live. We offer a helpful consultation that includes a free loan quotes with no obligation.


San Diego Home Foreclosures Soaring
By Rebecca K. O'Connor

Public records show that home foreclosures in San Diego County hit a 25-year high in April. Transfers of mortgage notes from owners to lenders escalated to 604 in April. The previous record of 589 foreclosures in a single month was set in July 1996, according to The (San Diego) Daily Transcript, which began compiling foreclosure data in 1982

"This might be just the beginning," said Nathan Moeder, principal at San Diego-based London Group Realty Advisors Inc. "Right now it's sub-prime mortgages, but down the road it might be from the middle-class, people who lease two or three cars and are putting their kids through college." California foreclosures are reaching all-time high.

Why are Foreclosures increasing in San Diego?

During foreclosure, a lender takes legal steps to seize a property in which the payments haven't been made, meaning payment defaults. Experts feel that there are several reasons that so many borrowers are reaching the point of loan default. The lenient mortgage guidelines have allowed individuals to get into mortgages that they ultimately couldn't afford. Adjustable rate mortgage payments combined with decreasing home equity and tighter lending guidelines have put many borrowers in a terrible financial position, especially those who bought homes in the last three years. With California mortgage lenders going bankrupt and sub-prime mortgage companies going out of business, things are looking pretty bleak.

California Home Sales Down

Selling homes to avoid foreclosure has become a more difficult endeavor in San Diego as well. In August 2007, the median home price in San Diego County was down 4%, to $475,000, compared with $495,000 in August 2006, according to DataQuick Information Systems. The number of home sales in August fell 19.4% compared to last year. The decline for Southern California as a whole -- 36.6% -- was even larger.

Experts are looking for a rebound of the market in 2008, but for now, lenders and home owners are struggling with the possibility of further defaults and foreclosures.

Relevant San Diego County Facts:

Average home value for owner occupied primary residence, 2000: $227,200
Homeownership rate, 2000: 55.4%
Average household income, 1999: $47,067
Population,
2004 estimate: 2,931,714
% of people living in same home for 5+ years, 2000: 45.1%
Average commute time from home to work (minutes), 2000: 25.3

Click Here for More San Diego Loan Info

* Loan terms are state and federal fee restrictions. Laws may vary per state.
Data source census.gov

Home Sales and Mortgage Rate Info for San Diego Cities

 
Carlsbad Home Equity Rates
Beach cities like Carlsbad have not experienced too much of a home value reduction at this point, but if you have variable interest rates on your mortgage you do not want to risk waiting for any longer. Refinance your equity loans now and get a fixed interest rate.
La Jolla Home Equity Rates
Home values in La Jolla and Del Mar have been pretty steady, but have reduced sales prices from 4-7% in some of the pockets in UTC and condos in La Jolla. Residents in Del Mar and Pacific Beach have reported deeper drops in property values than their neighboring town of La Jolla.
Encinitas, Leucadia & Cardiff Home Mortgage Equity Rates
Unfortunately property values in North County are flat, but compared to the rest of the county where home sales prices are dropping, flat may not be so bad. Coastal towns West of the freeway, like Encinitas, Leucadia and Cardiff by the Sea are forecasted to see a rebound in home values for 2017 and 2018.

 

Resource Tools

ARM vs. Fixed Rate Calculator
Calculate and compare fixed interest and adjustable rate mortgages so you can assess your budget to make a fiscally responsible decision next time you refinance your home.


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"The loan officers at Nationwide helped us get into our first home. We have always dreamed of owning a home in San Diego, and now we do. We will be celebrating for the next few years. Thanks you Nationwide Mortgage Loans for showing us each step for 100% financing."

Everything from the application to the rate lock, you explained all of risks and disclosures. We really appreciate all of the time you put into home purchase!" – Frank and Sissy N.


Get Second Mortgage Rates for California Properties

House Sales in San Diego Reach Their Peak Over a 4-Year Period. –

The average price for all house sold last month was $342,000. That's the highest point it's been since August 2008 when the average price was $350,000. The median high in San Diego County properties reached a high $517,500 back in November 2005.

Reasons San Diego Home Values Are Rising

The latest DataQuick report revealed that, "Greater demand, partially triggered by historically low mortgage rates, and a thinner inventory of homes for sale help explain recent gains in the median price."

30-Year Mortgage Rates edged up last week but they remain at ridiculously low levels. According Freddie Mac, the average fixed rate is hovering at 3.5% and the 15-year home loan rates average 2.875%.

Read the Union Tribune Housing Update.

Refinance Your Underwater Loans Regardless of LTV. Homeowners are lining up for the Home Affordable Refinance Program because the rates are great and the standards are so flexible with equity requirements because they aren’t any.  Read the article on the eligibility to Refinance with the HARP 2.0.

Home Equity Lenders continue to extend 2nd Mortgages to qualified borrowers from Oceanside to Down-Town.  Most applicants are looking for quick cash to fund home repairs or complete a debt consolidation plan that increases their cash flow.

Will The Refinance Boom Last Forever? Bryan Dornan discusses the direction of market for loan originators in the years to come.


Nationwide on Twitter

Twitter
The appraised value plummeted a lot since we bought our home in 2007. We couldn't even get a San Diego lender to call us back. Nationwide found a refinance program designed for underwater homeowners like us. Thanks.
- Lisa D., Carlsbad, CA

Getting approved for a San Diego home loan was difficult because our credit scores were in the low 600's and we only had about $12,000 to use as a down-payment. Nationwide was able to find a program that met our needs. Thank You Nationwide!
- Ken J. La Jolla, CA

We didn't have a mortgage owned by Fannie Mae so we were on the sidelines for many years. Fortunately, the local market started to rebound last year and BD Nationwide assisted us in finding a home refinance with a lower fixed interest rate.
- Katie K. San Marcos, CA

Nationwide held our hand until we found a San Diego mortgage lender that approved us for a home purchase with no lending fees. Thanks!
- Eric L. San Diego, CA

We needed to find a San Diego mortgage lender that had experience with FHA insured home financing. A friend suggested we call BD Nationwide and they helped us get approved to buy a home in Oceanside. We were approved for a VA loan and there was no down-payment required. We got a great interest rate and we are happy 1st time home buyers. Thanks for everything! - Kelly S. Oceanside CA

Additional Helpful Mortgage Loan Pages:
California Mortgage Refinance Loans | California Veteran Home Loans | California FHA Home Loans | Government Mortgage Refinance | California Mortgage Rates | Home Purchase Loans | Harp Refinance | Mortgage Refinancing | FHA Mortgage | VA Home Loans | 2015 FHA Loan Limits in California
Apply Now | Disclosures and Terms | Home Loan Programs

Please note that this is not an advertisement for credit. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and no home loans can be guaranteed or approved until reviewed by mortgage lenders that are licensed to originate San Diego home loans. Please be aware that home loans and rates are subject to change without notice. Copyright © 2001-2017 and Beyond, BDnationwidemortgage.com is a website and cannot make loans. All rights reserved. Note that interest rates and guidelines are subject to change without notice on all home equity loans.

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