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How do I know what my loan rate will be?
Rates vary primarily based on the type and purpose of the loan, your credit
history and income, loan amount, value of the property, and the number of
points you are willing to pay.

What are points and how many do I have to pay?
Generally speaking, points are fees added onto loans or prepaid interest
assessed at closing by the lender. One point is equal to 1 percent of your loan
amount. Points are paid when the loan closes, not at the time you apply for the
loan.

Do I get a tax advantage from having a mortgage?
Interest on a mortgage and property tax payments is usually tax deductible.  
Interest on credit cards or automobile loans is not normally tax deductible.  
However, the answer to this question can be different for everyone so you
should consult a tax attorney or accountant for your personal situation

Should I roll in my fees?
This is a decision that comes down to whether you want to pay now or pay later.  
If you have the money now then you can cover the out-of-pocket costs and save
through lower monthly payments because you will have a smaller loan.  On the
other hand, if you don’t have the cash now then rolling in the costs and fees with
your loan amount will enable you to get the loan without immediate expenses.  
However, your loan amount and resulting monthly payments will be higher.

What will a loan cost to obtain?
The points and fees of each loan vary depending on numerous factors. They will
typically range from 0 points and 0 fees up to 3 points and $1,000's in fees.
They depend on your qualifications, the interest rate you want, and the profit
being made by the originator (broker or lender).

The typical fees involved in a San Diego loan are:

Lender/Broker Fee
Discount Points (if any)
Appraisal fee
Credit report
Inspection fee
Underwriting fee
Document preparation/review fee
Tax service fee
Mortgage insurance
Title charges
Title insurance
Transfer tax (excludes refinances)
Recording tax
Termite inspection
Prepaid expenses (not part of the actual cost of the loan, but some are required
to be included with the initial closing)
Prepaid interest (interest that accrues between closing and the end of the
closing month - paid in advance)
Homeowner's insurance
Real estate taxes

What are the costs that are included in my loan payment?
Depending on the type of loan you get your loan payment could include only
interest, interest and principal, impounds for insurance, property taxes, HOA
assessments and other items.  

What are the appraisal costs?
Appraisal fees vary and generally cost anywhere from $350-$1,000 depending
on the size of the home and the complexity.  

Should I pay points?
The answer to this question really depends on your current financial resources
and preferences.  Use our calculator to determine what’s best for you.
Calculator

Should I buy or should I rent?
While home ownership can bring many benefits it may not be right for everyone.  
Use our calculator to determine what’s best for you.
Calculator

Should I make extra payments? Sometimes people find themselves with
extra cash at the end of the month and wonder whether they should use it to pay
down their mortgage.  Use our calculator to assess how much interest you could
save over the life of your loan if you made extra monthly payments.

Should I consolidate my debt? Interest payments on credit cards and car
loans are generally not tax deductible.  However, interest payments on a home
loan in many cases can be tax deductible.  Use our calculator to calculate
whether you should consolidate your debt into a new home loan.
 
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