Lending San Diego

Bank of Commerce Mortgage is pleased to announce the Family Opportunity Mortgage program in San Diego County. With this program for eligible Fannie Mae and Freddie Mac Market Types, we can assist parents looking to provide a residence for their college-bound or disabled adult child without the expense associated with purchasing an investment property.  Additionally, adult children can obtain mortgage financing for elderly parents who are unable to qualify for a mortgage of their own.  Please contact me to determine … Read More

It looks like mortgage rates in San Diego are going to rise in the near future.  On December 23, 2011, President Obama signed into law the Temporary Payroll Tax Cut Continuation Act of 2011. Among its provisions, this new law directs the Federal Housing Finance Agency (FHFA) to increase guarantee fees (G-fees) charged by Freddie Mac & Fannie Mae to Seller/Servicers.  Investors are making adjustments to their pricing models and extension fee schedules as a result.  According to Jeff Simonich, … Read More

The San Diego maximum VA loan with 100% financing is $477,000 in 2012. The maximum guaranty that VA will provide is 25% of the maximum county limits. If you buy a home in San Diego above $477,000, a qualified Veteran is required to put down 25% of the difference of the purchase price and $477,000. Sample scenario above the $477,000 San Diego VA Maiximum Loan Purchase Price: $577,000 VA Loan: $477,000 Differene: $100,000 VA Borrower Down Payment: $25,000 To learn more about the … Read More

The first step in obtaining FHA financing for a condo in San Diego is to search the FHA condo database to make sure a specific complex is FHA approved.  The tightening of lending guidelines over the last few years was not only for homebuyers but included the condo complex as well.  You can have an 800 credit score, down payment, stable job, and will still be denied an FHA loan if the complex itself is not FHA Approved. Is my … Read More

With over a decade of educating San Diego Mortgage clients on the value of a Zero Cost Refinance (Zero Points and Zero Fees), I decided to coin a term that sums it all up. I did not invent the No Cost Refinance. I just try to make it more transparent and easier for San Diego Homeowners on a daily basis. The Zero Refi℠ pays all Non-Recurring Fees during a refinance. These fees include Underwriting, Processing, Appraisal, Title Insurance, Escrow, Notary, … Read More