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.

Do not pack away your bank and financial documents until your application has been approved. Many people send away their documents to the new destination or storage as they pack up to move only to find that the bank needs the exact same documents for processing your San Diego mortgage adding to delays. Do check that you do not have any unresolved debts. Check that you have been paying all your credit card bills on time and that you do not have too many outstanding bills. Bad credit history means you may be disqualified for a loan. For all the above cases even if your San Diego Home loans are approved after you come with the required documentation - valuable time may be lost, you may have to pay higher interest rates on your San Diego home loans or you may have to agree to some extra penalty clauses and higher San Diego mortgage payments.

Major Mistakes To Avoid Before Securing A San Diego Mortgage: Do not take any new debts/loans just before or during the time your San Diego Home loans application for San Diego home loans are being processed. Lenders don’t take kindly to the fact that you may be over-leveraged or taking on more new debts. You may even be disqualified even if you meet all the other criteria.