But despite all its advantages, the San Diego real estate is cursed with high housing prices, combined with relatively low wages, this makes it second least affordable area in the country, according to the National Association of Home Builders. On an average San Diego real estate home sells for $781,000, the average new condominium for $490,000 and the average condo conversion unit for $303,000 according to the latest numbers released by the San Diego Realtors Association.

San Diego real estate is considered as one of the most desirable in the world due to its unmatched climate, numerous first class universities and cultural venues, pristine beaches and harbors, and lush parks and open spaces. Due to its idyllic setting and nationwide popularity, San Diego realty is extremely tight. As the City of San Diego is the region’s economic hub, with well over half of the region’s jobs and nearly three-quarters of the region’s large employers. Thirteen of the region’s 20 major colleges and universities as also six of the region’s major retail centers are located here. San Diego real estate is much in demand among the working class, students community seeking higher education and educational professionals and also people related with the retail industry. The city borders a majority of the region’s shoreline, encompassing 93 of the region’s 182 shoreline miles.

The application will ask for information about your job tenure, employment stability, income, your assets like property, cars, bank accounts and investments. They will also about what other loans and liabilities you have for instance auto loans, installment loans, mortgages, credit card debt, household expenses and others. Then the lending agency will do a credit check to see that you have a good credit history. You need to give documents like paychecks, bank statements, tax returns, investment earnings, divorce or alimony claims, insurance and other documents. Your loan application may be approved or disapproved taking into consideration all the above factors.