With Interest rates STILL lingering below 4% what are you waiting for to purchase a home? With extremely low rates and prices having stabilized in San Diego this is the perfect storm for any buyer looking to make a move in 2015.
Let me give you a scenario why you should considering buying if you are currently renting;
Let's say you pay $2500- $3000 a month in rent, which is about the average monthly going rent in the San Diego area.
A $500,000 home with a conventional loan and 20% down payment of $100,000 at 4% interest rate = roughly $3600 a month for your mortgage payment, taxes and insurance
Have great credit, and a low debt to income ratio? Then you may even qualify for 5% or 10% down on your conventional loan.
Other loan options include FHA loans which enables you to put just 3.5% down and VA loans with ZERO down.
There are many options today and with low interest rates so there is no time like the present to find out if buying makes the most sense.
Getting pre-approved is fast and EASY and I can help guide you along with my trusted mortgage Broker Mike Lowary who can get you started HERE!