The median price of San Diego real estate, single-family homes are at a record high of $530,000; the median resale price for condos is $380,000. The median price of San Diego realty doubled between 2000 and 2004, but the median household income only increased 10.4 percent.

Along with the lender you need to also research loan costs, including the interest rate, broker fees, points (each point is one percent of the amount you borrow), prepayment penalties, the loan term, application fees, credit report fee, appraisal and a host of others.

Don’t start off by filling hundreds of San Diego Mortgage application forms in your quest for a San Diego home loan. First, do your research. Learn about mortgage from websites, newspapers, books, seminars, real estate agents and bankers and mortgage brokers. Clearly specify your requirements. How much loan do you need and very importantly how much can you afford to repay every month for the next 15-20 years with out straining your finances. The long-term loans come with higher interest rates and short-term ones come with lower interest rates.