30 Year Mortgage

Hop Into Home Buying

Home Buying can be overwhelming & a bit intimidating, but we’re here to hold your hand every step of the way.

First Time Home Buyers

Is anyone else as obsessed with lists & “how to’s” as I am? If so… get your pens ready! The home buying process can be so daunting that you may not know where to begin… That’s where we come in.

Location, Location, Location.

Consider: commute, school district, crime rates & community

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Price

Know what you can afford.

Remember, mortgage payments, interest, HOA fees, PMI & property taxes. Compare your loan options and Call our purchase specialist, Chris to see whether a Conventional, FHA or Veteran loan would be the best fit for you. It’s good to know what you can afford before falling in love with a home out of your price range.

Realtor

They need a good & respectful understanding of what you are looking for & what you can afford instead of trying to oversell your budget.

Financing

After you have an idea of pricing and what type of loan option suits you, you’ll have a better idea of what type of down payment you’ll need to save for. Remember to ask if you qualify for NO closing costs & NO PMI options.

What you Need, What you Want & What Can Be Changed

Pay attention to the structural layout of the home & make sure it’s what you want because changing structural elements can be a whole new cost in itself. No house is perfect, but what is important is determining what can be changes & made perfect and what can’t be.

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Now that we’ve gone through our checklist, let’s get you financed.

Our Purchase Division is available to help you discover your financing options, to walk you through this process from start to finish & to make this as easy as possible for you & your family.

Chat with Chris today to get into your dream home.

(858)752-6480 or Click Below to get started today.

GET FINANCED

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Should You Refinance a 30-Year Mortgage to 15 Years?

Should you refinance a 30-year mortgage to 15 years?

Being a homeowner is just about one of the most significant accomplishments a person can achieve in their lifetime.  The allure of owning a home all to oneself can be so appealing that you can hardly blame people for wanting to do all they can to speed the process along.  For homeowners locked into a 30-year fixed home loan, this usually translates to trying to refi down to a 15-year loan so they can claim full ownership sooner rather than later.

There are other advantages to refinancing a 30-year mortgage to a 15-year loan that add to the draw: The shorter loan agreement typically comes with a lower interest rate, which means you’ll be saving on your monthly payments in the long term.  The flipside to that is that lower interest payments could result higher monthly payments compared to the 30-year loan, so there is a trade-off to consider.

With that said, here’s a quick rundown of points to think about if you are considering refinancing to a 15-year loan.

  • Can you afford the payments?  Say you’ve got a 30-year mortgage on a $200,000 loan with an interest rate of 3.8%.  At this rate, you’ll be paying about $138,000 in interest during the loan’s lifetime.  This same loan at a 15-year fixed rate would see the rate payments drop to around 3.1% (total interest payments: ~$50,000), but the monthly mortgage payment itself increases by about $400 a month.  So you’ll be saving more in the long haul, but can you afford the monthly increase now?
  • Make sure the rest of your finances are in order.  Before deciding to undertake something as significant as a home loan modification, you’ll want to take a good look at your other financial responsibilities and make sure adding another burden to the pile won’t cripple you.  If you’ve got large car or credit card debts that need to be paid down, we’d recommend focusing on those first before you take on any more major financial responsibilities.

Thinking about refinancing your current loan?  Our experts can help you out! Contact us today.

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