Cabrillo Mortgage Services

We know that each customer has specific needs when it comes to a California or San Diego Home Loan, so here at Cabrillo Mortgage & Realty Services with over 50 years of combined experience in the California Home loan business, we strive to meet those specific needs with quality service and individual attention. We pride ourselves in giving you the information, options and convenient assistance you’re looking for.

Cabrillo is a full service office. We can not only help you with the San Diego Real Estate part of the transaction but with a variety of loan programs and an established network of over 100 lenders behind us, we will find the loan that best suits your needs, at a very competitive rate. We offer conforming, non-conforming and government loan programs.

Adjustable rate mortgages (ARM) offer lower initial interest rates than fixed-rate mortgages. But after an initial period, those rates are adjusted to follow the market. Monthly payments on this type of loan can go up or down as the market conditions change. There are ceilings, or “rate caps”, on the amount the interest rate can rise or fall to protect you in times of extreme rate fluctuation.

You might consider an adjustable-rate mortgage if you:

• Need lower initial payments.
• Have a small income but expect to earn more in the future.
• Plan to live in your home for only a short time.

With a fixed-rate mortgage, your monthly payments remain the same throughout the life of the loan.

If you are buying or refinancing a San Diego home:

Step (1) Organize your Documents if buying or refinancing your home:

1. If you are salaried: provide two years W-2 and one month of pay stubs OR if you are self-employed: provide two years tax returns and a YTD profit and loss statement.
2. If you own rental property, please provide rental agreements and two years tax returns.
   If you wish to speed up the approval process, please also provide three months bank statements for each bank, stock and mutual fund account.
3. Provide recent copies of any stock brokerage or IRA/401K accounts that you may have.
   If you are requesting a cash out refinance please provide a letter explaining what you plan to do with the proceeds. Provide a copy of divorce decree if applicable.
4. If you are NOT a US citizen, provide us with a copy of your green card (front & back), or if you are NOT a permanent resident provide us with your H-1 or L-1 visa.

Step (2) Get Pre-Qualified & Save Time & Money:

When buying a home we recommend that you get pre-qualified or pre-approved for your San Diego Home.

You can typically get pre-qualified over the phone in a few minutes (15-30) buy giving us a call Toll Free 1-888-865-5055. A pre-qualification is not as beneficial as a pre-approval where you have to go through a more rigorous process which includes verification of your credit, income, assets and liabilities. It is highly recommended that you get pre-approved before you start looking for a house.

This will help you:

• Find out the maximum house you can buy, so you don’t waste time looking for properties you can not afford.
• Puts you in a stronger position when you are negotiating with the seller, because the seller knows that your loan is already approved. Especially in this Extremely hot San Diego Real Estate Market .
• Helps you close quickly, since your loan is alreadyapproved.

Step (3) We will need to Shop for a Loan Program that best fits your needs:

1. We will help you shop for a loan that best fits your specific needs! We provide our clients with a mortgage specific to fit their needs. With over 100 lenders in our network you are assured that we will find a loan program that best fits your needs!
2. With over 50 years of combined experience in the San Diego Real Estate Market we are committed to your success.
3. To shop for a loan you will need to know the facts that best fit you needs!
4. Think about how long you plan to keep the loan. If you plan to sell the house in a few years you may want to consider an adjustable or balloon loan. On the other hand, if you plan to keep the house for a longer time, you may want to look at fixed loans.
5. Understand the relationship between rates and points. Points are considered to be prepaid interest and are tax deductible. Each point is equal to one percent of the loan. So for example 1 point on a $150,000 loan is $1,500. The more points you pay, the lower the rate you will get.
6. Compare different programs. Shopping for a loan can be difficult. With so many programs to choose from, each of which has different rates, points and fees, it’s hard to figure out which program is best for you. That’s where an experienced loan officer at Cabrillo can help you make a decision that’s best for you.

Step (4) Give us a call today so we can help you find your dream San Diego home! Buy allowing me to guide you through the home buying and or selling process, we will do our best to save you as much as possible and provide you with the best service available.