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Mortgage Broker In San Diego CA | Home Loans | (619) 857-7191

Maureen Martin is a 5 Star residential mortgage lender in San Diego CA that can help with many types of home loans. Call us today at (619) 857-7191

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(619) 857-7191

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  • About
    • Locations
      • Mortgage Rates
      • Mortgage Broker
      • First Time Home Buyers
      • Living in San Diego
    • Blog

      • FHA MIP and Some VA Funding Fees Reduced
      • 5 Things You Don’t Know About Conventional Mortgages
      • Questions to Ask Before Applying for a Reverse Mortgage
      • Popular Home Styles in San Diego: Ranch
      • Popular Home Styles in San Diego: American Craftsman
    • Contact
      • Apply Now
  • Loan Options
    • Loan Options
      • FHA Loans
      • VA Loan
      • Reverse Mortgage
      • Conventional
      • Loan Purpose
      • No Doc Loan
    • Resources
      • Today’s Rates
      • Interest Rates & Their Meaning
      • How to Refinance
      • Mortgage Calculator
      • Home Loan Basics
  • Purchase
    • Get Pre-Qualified
  • Refinance
  • Testimonials
    • Media
  • Contact
    • Apply Now

Conventional Loans in San Diego

Conventional Loans in San Diego

Most local home buyers are in the market for what is known as a San Diego conventional loan. This is simply a prime loan which conforms to the limits stipulated by Fannie Mae and Freddie Mac. Conventional loans in San Diego are not insured through any government program.

While there is some variation in San Diego conventional loans, the majority have loan terms ranging between 10-30 years and feature down payments as low as 3% and as high as the homeowner would like.

What Are the San Diego Conforming Loan Limits for 2017?

  • 1 unit: $612,950
  • 2 units: $784,700
  • 3 units: $948,500
  • 4 units: $1,178,750

If the home you wish to purchase falls within these conforming loan limits, you will be able to purchase it with a conventional loan. If it falls above these limits, then you will need a jumbo loan.

Eligibility Requirements for Conventional Loans in San Diego

Are you eligible for a conventional loan in San Diego? These are the basic requirements:

  • You need to have a good credit score in order to qualify for a conventional loan.
  • You must be able to afford a down payment of at least 3-5%. How high your down payment will be depended on other factors (such as your credit score, debt to income ratio and reserves).
  • Your income-to-debt ratio needs to be solid as well. Your monthly bills should not exceed half your income, nor should your mortgage payments add up to more than a third of it.
  • You will need to be able to furnish documents which prove your income, and employment status, work history, taxes, etc..

Apply for the Most Competitive Conventional Loans in San Diego with Maureen Martin and HomePlus Mortgage

HomePlus Mortgage is a direct mortgage lender. This means that when you work with Maureen Martin and HomePlus Mortgage, you are going direct to the source rather than working with a middleman. Here at HomePlus Mortgage, our motto is, “Experience is everything.” Our goal is to make your experience as simple and streamlined as possible.

If you give us a call, we can consult with you and let you know whether you qualify for one of our San Diego conventional loans. If you do not, we can help you figure out what type of loan would be most suitable for your situation. Either way, we will cut time and costs so that you can move into your new home in San Diego as quickly as possible. You can reach us at (619) 857-7191. We can’t wait to help you out.

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    Phone: (619) 857-7191
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    NMLS ID: 247664
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