April 2009 Archives


These are newly listed HOMESTEPS properties from Freddie Mac for the areas I work. These properties qualify for special financing.

I also have a list of upcoming HOMESTEPS properties not on the market yet

If you have questions, Contact me

La Mesa

Address: 4800 WILLIAMSBURG LN 223, LA MESA, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 185,500.00

Address: 3920 MASSACHUSETTS AVE, LA MESA, CA
Rooms: 5 Bed: 2 Bath: 1.0 Price: 279,900.00

Address: 7370 LA MESITA PLACE 1, LA MESA, CA
Rooms: 5 Bed: 3 Bath: 3.5 Price: 367,820.00

El Cajon

Address: 12074 CALLE DE LEON # 51, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.5 Price: 206,647.00

Address: 589 NORTH JOHNSON AVENUE UNIT, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 87,450.00

Address: 470 EL MONTE RD, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 169,900.00

Address: 652 SKYVIEW STREET, EL CAJON, CA
Rooms: 4 Bed: 3 Bath: 1.0 Price: 201,400.00

Address: 1723 SUMMERTIME DRIVE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 1.0 Price: 112,900.00

Lakeside

Address: 9717 WINTERGARDENS BLVD192, LAKESIDE, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 55,120.00

Address: 11505 POSTHILL PLACE, LAKESIDE, CA
Rooms: 7 Bed: 4 Bath: 2.0 Price: 232,900.00

Santee

Address: 9139 FANITA RANCHO ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 206,700.00

Address: 10210 PALM GLEN DRIVE 73, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.5 Price: 237,440.00

Address: 10507 FLORA AZALEA COURT, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 332,500.00

San Diego City

Address: 5252 ORANGE AVE 332, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 66,500.00

Address: 6302 LAKE ALTURAS AVENUE, SAN DIEGO, CA
Rooms: 6 Bed: 3 Bath: 2.0 Price: 309,520.00

Address: 6331 LAKE ALTURAS AVE, SAN DIEGO, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 333,370.00

Dan Melson, Agent
Clarity Real Estate Network
619-300-7425

The Best Loans Right NOW

(based upon "real people credit", not absolutely perfect credit)

Conforming Rates

Thirty Year Fixed Rate Loans

4.625% 30 Year fixed rate loan, with only one point (that's a total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2057, APR 4.751! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 3.75 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

5/1 ARMs have now fallen to levels below 30 year fixed by about half a percent!

4.00% 5/1 ARM, with NO POINTS (discount or origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $1910, APR 4.037! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 ARM rates as low as 3.00 percent (But you'd have to be crazy to pay that many points!)

Jumbo Conforming Rates (aka Super Conforming)

($417,001 to $546,250 in San Diego)

4.875% 30 Year fixed rate loan, with one point (total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $500,000 loan, Payment $2646, APR 5.002! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 3.875 percent (But you'd have to be crazy to pay that many points!)

VA Rates

4.5% 30 Year fixed rate loan, with one point (total discount and origination) from the lender to the consumer and NO PREPAYMENT PENALTIES (Standard Veterans Administration government generated charges to borrowers apply)!. Assuming a $400,000 loan, Payment $2027, APR 4.625! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate VA loans as low as 4.25 percent (But you'd have to be crazy to pay that many points!)

NONCONFORMING ("JUMBO") RATES

These numbers assume a 70% loan to value ratio, not 80.

Thirty Year Fixed Rate Loans

5.75% "Jumbo" 30 Year fixed rate loan, with ONE point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4085, APR 5.876! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! Jumbo 30 year fixed rate loans as low as 4.75 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

JUMBO 5/1s are nearly a full percent lower than 30 year fixed

4.875% "Jumbo" 5/1 ARM, with one point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $3704, APR 4.995! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 Jumbo ARMs as low as 3.75 percent (But you'd have to be crazy to pay that many points!) On the hypothetical $700,000 loan, a 5/1 saves over $500 per month in cost of interest over a thirty year fixed!

All rates above are intended for San Diego County today, and include a 30 day lock. Loan prices will vary every day. Loan pricing in the rest of California will be similar. Conforming loan pricing will be similar between about $150,000 and the conforming limit in your area. Nonconforming loan pricing will be similar from the conforming limit up to about $1 million dollars in loan amount.

10 year interest only payments available on 30 year fixed rate loans!

Great Rates on super-jumbo loans also available!

Zero closing costs and zero points loans also available!

Portfolio lenders! Need something special most lenders can't do? Portfolio lenders may be the key! I have portfolio lenders!

Yes, I still have low to zero down payment purchase and some stated income programs available!

These are actual retail rates at actual costs available to real people with average credit scores! I always guarantee the loan type, rate, and total cost as soon as I have enough information from you to lock the loan (subject to underwriting approval of the loan). I pay any difference, not you. If your loan provider doesn't do this, you need a new loan provider!

All of the above loans are on approved credit, not all borrowers will qualify, based upon an 80% loan to value and a median credit score on a full documentation loan. Rates subject to change until rate lock.

Interest only, stated income, bad credit and other options also available. If you need a mortgage, chances are I can do it faster and on better terms than you'll actually get from anyone else in the business.

Designing transactions for low to zero down payment a specialty

Please ask me about first time buyer programs, including the Mortgage Credit Certificate, which gives you a tax credit for mortgage interest, and can be combined with any of the above loans!

Ask about the 105% refinance with no PMI

Call me. Clarion Mortgage Capital at 619-300-7425, ask for Dan. Or email me: danmelson (at) danmelson (dot) com

Once per month, I link the best articles that are submitted containing information for the consumer. April's Consumer Focused Carnival of Real Estate is now live.

The new consumer article for today is 105% Refinancing With No PMI (Maybe). It goes over the straight scoop on Fannie and Freddie's new programs aimed at loss mitigation by helping people who would be able to refinance if values hadn't fallen.

I will be accepting applications for these myself. Contact me with questions.


These are newly listed HOMESTEPS properties from Freddie Mac for the areas I work. These properties qualify for special financing.

I also have a list of upcoming HOMESTEPS properties not on the market yet

If you have questions, Contact me

La Mesa

Address: 4800 WILLIAMSBURG LN 223, LA MESA, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 185,500.00

Address: 3920 MASSACHUSETTS AVE, LA MESA, CA
Rooms: 5 Bed: 2 Bath: 1.0 Price: 279,900.00

Address: 5714 BALTIMORE DRIVE 505, LA MESA, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 129,850.00

El Cajon

Address: 589 NORTH JOHNSON AVENUE UNIT, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 87,450.00

Address: 652 SKYVIEW STREET, EL CAJON, CA
Rooms: 4 Bed: 3 Bath: 1.0 Price: 201,400.00

Address: 1723 SUMMERTIME DRIVE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 1.0 Price: 112,900.00

Lakeside

Address: 9717 WINTERGARDENS BLVD192, LAKESIDE, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 55,120.00

Address: 12616 LAKESHORE DRIVE 50, LAKESIDE, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 93,015.00

Address: 11505 POSTHILL PLACE, LAKESIDE, CA
Rooms: 7 Bed: 4 Bath: 2.0 Price: 232,900.00

Santee

Address: 9139 FANITA RANCHO ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 206,700.00

Address: 10210 PALM GLEN DRIVE 73, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.5 Price: 237,440.00

Address: 10507 FLORA AZALEA COURT, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 332,500.00

San Diego City

Address: 5252 ORANGE AVE 332, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 66,500.00

Address: 4323 51ST ST, SAN DIEGO, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 176,000.00

Address: 6302 LAKE ALTURAS AVENUE, SAN DIEGO, CA
Rooms: 6 Bed: 3 Bath: 2.0 Price: 309,520.00

Dan Melson, Agent
Clarity Real Estate Network
619-300-7425

The Best Loans Right NOW

(based upon "real people credit", not absolutely perfect credit)

Conforming Rates

Thirty Year Fixed Rate Loans

4.625% 30 Year fixed rate loan, with only one point (that's a total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2057, APR 4.751! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 3.75 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

5/1 ARMs have now fallen to levels below 30 year fixed by about half a percent!

4.00% 5/1 ARM, with only one quarter of a point (that's a total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $1910, APR 4.058! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 ARM rates as low as 3.125 percent (But you'd have to be crazy to pay that many points!)

Super-Conforming Rates

($417,001 to $546,250 in San Diego)

4.75% 30 Year fixed rate loan, with one point (total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $500,000 loan, Payment $2608, APR 4.876! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 3.875 percent (But you'd have to be crazy to pay that many points!)

VA Rates

4.5% 30 Year fixed rate loan, with NO points (total discount and origination) from the lender to the consumer and NO PREPAYMENT PENALTIES (Standard Veterans Administration government generated charges to borrowers apply)!. Assuming a $400,000 loan, Payment $2027, APR 4.625! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate VA loans as low as 4.00 percent (But you'd have to be crazy to pay that many points!)

NONCONFORMING ("JUMBO") RATES

These numbers assume a 70% loan to value ratio, not 80.

Thirty Year Fixed Rate Loans

5.75% "Jumbo" 30 Year fixed rate loan, with ONE point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4085, APR 5.876! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! Jumbo 30 year fixed rate loans as low as 4.75 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

JUMBO 5/1s are a full percent lower than 30 year fixed

4.75% "Jumbo" 5/1 ARM, with one point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $3652, APR 4.869! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 Jumbo ARMs as low as 3.625 percent (But you'd have to be crazy to pay that many points!) On the hypothetical $700,000 loan, this saves over $900 per month in cost of interest over a thirty year fixed!

All rates above are intended for San Diego County today, and include a 30 day lock. Loan prices will vary every day. Loan pricing in the rest of California will be similar. Conforming loan pricing will be similar between about $150,000 and the conforming limit in your area. Nonconforming loan pricing will be similar from the conforming limit up to about $1 million dollars in loan amount.

10 year interest only payments available on 30 year fixed rate loans!

Great Rates on super-jumbo loans also available!

Zero closing costs and zero points loans also available!

Portfolio lenders! Need something special most lenders can't do? Portfolio lenders may be the key! I have portfolio lenders!

Yes, I still have low to zero down payment and some stated income programs available!

These are actual retail rates at actual costs available to real people with average credit scores! I always guarantee the loan type, rate, and total cost as soon as I have enough information from you to lock the loan (subject to underwriting approval of the loan). I pay any difference, not you. If your loan provider doesn't do this, you need a new loan provider!

All of the above loans are on approved credit, not all borrowers will qualify, based upon an 80% loan to value and a median credit score on a full documentation loan. Rates subject to change until rate lock.

Interest only, stated income, bad credit and other options also available. If you need a mortgage, chances are I can do it faster and on better terms than you'll actually get from anyone else in the business.

Designing transactions for low to zero down payment a specialty

Please ask me about first time buyer programs, including the Mortgage Credit Certificate, which gives you a tax credit for mortgage interest, and can be combined with any of the above loans!

Ask about the 105% refinance with no PMI

Call me. Clarion Mortgage Capital at 619-300-7425, ask for Dan. Or email me: danmelson (at) danmelson (dot) com


We were ready for a strong turn in the market, but the strength of what we've gotten in the last six weeks is amazing. It has been, if anything, worse that a few years ago.

What caused it? People with money are scared to leave it anywhere else. The expectation is that inflation will become a large factor in the next several years, so you don't want dollar denominated investments such as bank accounts and bonds just sitting there. With real estate, you have a tangible asset where they can't just go out and print more, diluting your value. The stock market has seen major declines and most people don't think they're over - especially once the inflationary spending of the new administration gets into the system. People are looking for a safe place to put the money where it won't be worth less (or worthless) tomorrow. Even if real estate declines a bit more, there's the limited supply that exists to redeem basic value.

As I said when explaining how the bubble got so big, when you suddenly dump a lot of cash into a market, prices shoot up. And boy how prices have shot up. I was in a model match for a house I was buyer's agent for at just over $330k 12 months ago. There's a bidding war that's gone over $500,000 for the one that just went Pending. Another property, larger and with a view that goes all the way to Mt. Soledad, got an all cash offer for $50,000 over asking price - no bidding war, just jump straight to the nukes. And these are just the East County properties - sedate, older east county, which has always had good value compared to everything else. I closed on two properties in Chula Vista earlier in the year, and there's practically a bidding orgy going on there now. Model matches are going for almost twenty percent higher than those two properties - and that's with a two month difference. I haven't been working north of Clairemont, but what I've heard says that coastal North County is hotter than anything else.

I think we've graduated to a full-on seller's market, so much so that I'd be telling tell people to hold off on buying if I thought it was going to be any better later on. I am telling people that you really need a sharp agent in this kind of market to prevent overpaying. If you have any kind of a decent situation and desire to sell, it may be time to seriously consider it. For the last three years, I've been telling people "Hold off on selling if you can. There are too many distress sales, and not enough buyers" That has emphatically changed. I still think that, considered in isolation, you'll get more for your property if you hold off a while, but no longer so much so as formerly. If you have other considerations, like needing to leave town for a job, selling so you can buy something elsewhere is likely to be better than alternatives.

Six weeks ago we had just over 12000 active listings in San Diego MLS. Today we've dropped to 11,400, with 866 having gone pending in the last 7 days. That's basically a 13 week supply, but 1840 of the actives list are short sales with an accepted offers denoted properly - and I've talked before about how many short sales aren't denoted properly. Assuming short sales take ten weeks on average, that's a nine week supply. Perhaps about where we were last time I wrote one of these articles, but with a difference: Anything priced even vaguely in the right neighborhood is seeing multiple offers if not bidding wars. The attractive properties, priced correctly, that everyone wants are all going "Pending" within about a week, having seen multiple strong offers. They don't have to be beautiful modern properties, either - so long as they are basically okay, they're seeing action and lots of it. If you're not seeing multiple offers, the only real explanation is that your listing agent didn't do his job - he let you price it waaayyy too high. If you're in that situation, fire your agent today and find someone competent.

If you're a buyer, there are alternative strategies to pursue if you don't want to overpay. The easiest is to have a good buyer's agent to help you - but no buyer has the kind of leverage we had just a few short months ago. Making up your mind that you're going to start with a old and unattractive but basically solid property and be the one to upgrade it. Kind of like the flippers (or actually, fixers) we had five or six years ago, except you're buying it for yourself rather than with intent to sell. I'm not certain the current market is ready to support pure flippers yet, but it is getting close.

The one note of caution I must sound is that you've got to pay particularly close attention to the current paranoid lending standards and new appraisal standards. Not all offers are created equal. Lenders loan on the lesser of purchase price or appraised value. This means that, for instance, a VA loan based offer with $50,000 in down payment has the option of making it happen when the appraisal comes in $40k below the purchase price. A 20% down payment conventional loan does not - unless they have even more cash available to them. An all cash offer beats everything, of course.

If you're a seller, having an agent who doesn't understand current lending standards and negotiate in full cognizance of their limitations is a recipe for having the transaction fall through, and having to start over again trying to get people interested even though your property may have sixty days or more on the market. If you're a buyer, it means placing your Good Faith Deposit at risk (or more precisely, at more of a risk than it needs to be). I'm seeing properties sit in escrow with agents who should know better in denial over the fact that this transaction is not going to happen because the necessary loan isn't going to fund. The time is long past when agents - whether they're on the listing side or buyer's side - need to know loans almost as well as loan officers, to avoid wasting client money and client time. There may be no way to tell ahead of time that the loan definitely will fund, but there are all kinds of red flags that tell you it won't if you pay attention.

In short, this market has suddenly become very lucrative for sellers, but everyone - buyer or seller - needs to be extremely careful about negotiating contracts that have some room to continue if something happens to the appraisal, because there's no longer the ability to get around an appraisal that comes in low. Either you're going to renegotiate that contract, the buyers are going to come up with more cash, or you're spinning your wheels because the loan isn't happening, and the transaction isn't happening without that loan.

To close this article, if you'd like to discuss your particular situation with an top of the line agent who knows the San Diego market, contact me. Whether you're considering buying or selling, I'll tell you to sit tight if you should. If it is time to make your move, I'll help you do all the right things before diving headfirst into the market.

Caveat Emptor

The new consumer article for today is Shopping For The Best Loan In The New Lending Environment. There have been changes in the lending environment in the last few months, changes that are practically designed to make loan officers with practices favorable to consumers change their ways. You need to know how this changes shopping for a loan.

PS Ramona has the nasty cold I had last week, so it took practically all of the time I had to write to research and write this one article. I'm trying to have a new article for tomorrow as well, but we'll see if I'm successful.


I'm still trying to catch up from four plus days of being doped up and in bed with a nasty cold. I'm working on new consumer articles for next week, the first of which will consider the changes in the loan market and how they effect best practices for consumers shopping for a loan. If I can have it ready, it'll be up Monday.

These are newly listed HOMESTEPS properties from Freddie Mac for the areas I work. These properties qualify for special financing.

I also have a list of upcoming HOMESTEPS properties not on the market yet

If you have questions, Contact me

La Mesa

Address: 4800 WILLIAMSBURG LN 223, LA MESA, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 185,500.00

Address: 4985 WILLIAMS AVE, LA MESA, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 241,150.00

Address: 3920 MASSACHUSETTS AVE, LA MESA, CA
Rooms: 5 Bed: 2 Bath: 1.0 Price: 279,900.00

Address: 5714 BALTIMORE DRIVE 505, LA MESA, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 129,850.00

El Cajon

Address: 589 NORTH JOHNSON AVENUE UNIT, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 87,450.00

Address: 652 SKYVIEW STREET, EL CAJON, CA
Rooms: 4 Bed: 3 Bath: 1.0 Price: 201,400.00

Address: 1266 FINCH STREEET, EL CAJON, CA
Rooms: 8 Bed: 4 Bath: 1.5 Price: 337,500.00

Address: 1723 SUMMERTIME DRIVE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 1.0 Price: 112,900.00

Lakeside

Address: 12616 LAKESHORE DRIVE 50, LAKESIDE, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 93,015.00

Address: 11505 POSTHILL PLACE, LAKESIDE, CA
Rooms: 7 Bed: 4 Bath: 2.0 Price: 232,900.00

Santee

Address: 9139 FANITA RANCHO ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 206,700.00

Address: 10507 FLORA AZALEA COURT, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 332,500.00

San Diego City

Address: 5252 ORANGE AVE 332, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 66,500.00

Address: 4323 51ST ST, SAN DIEGO, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 176,000.00

Address: 6302 LAKE ALTURAS AVENUE, SAN DIEGO, CA
Rooms: 6 Bed: 3 Bath: 2.0 Price: 309,520.00

Dan Melson, Agent
Clarity Real Estate Network
619-300-7425

The Best Loans Right NOW

(based upon "real people credit", not absolutely perfect credit)

Conforming Rates

Thirty Year Fixed Rate Loans

4.5% 30 Year fixed rate loan, with only one point (that's a total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2027, APR 4.625! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 3.75 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

5/1 ARMs have now fallen to levels below 30 year fixed by about half a percent!

3.875% 5/1 ARM, with only one point (that's a total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $1880, APR 3.996! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 ARM rates as low as 3.25 percent (But you'd have to be crazy to pay that many points!)

Super-Conforming Rates

($417,001 to $546,250 in San Diego)

4.625% 30 Year fixed rate loan, with one point (total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $500,000 loan, Payment $2571, APR 4.750! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate loans as low as 3.75 percent (But you'd have to be crazy to pay that many points!)

VA Rates

4.75% 30 Year fixed rate loan, with NO points (total discount and origination) from the lender to the consumer and NO PREPAYMENT PENALTIES (Standard Veterans Administration government generated charges to borrowers apply)!. Assuming a $400,000 loan, Payment $2087, APR 4.789! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! 30 year fixed rate VA loans as low as 4.00 percent (But you'd have to be crazy to pay that many points!)

NONCONFORMING ("JUMBO") RATES

These numbers assume a 70% loan to value ratio, not 80.

Thirty Year Fixed Rate Loans

6.75% "Jumbo" 30 Year fixed rate loan, with ONE point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4540, APR 6.884! This is a thirty year fixed rate loan. The payment and interest rate will stay the same on this loan until it is paid off! Jumbo 30 year fixed rate loans as low as 5.75 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

JUMBO 5/1s are more than a full percent lower than 30 year fixed

5.125% "Jumbo" 5/1 ARM, with one point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $3811, APR 5.246! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 Jumbo ARMs as low as 4 percent (But you'd have to be crazy to pay that many points!) On the hypothetical $700,000 loan, this saves over $900 per month in cost of interest!

All rates above are intended for San Diego County today, and include a 30 day lock. Loan prices will vary every day. Loan pricing in the rest of California will be similar. Conforming loan pricing will be similar between about $150,000 and the conforming limit in your area. Nonconforming loan pricing will be similar from the conforming limit up to about $1 million dollars in loan amount.

10 year interest only payments available on 30 year fixed rate loans!

Great Rates on super-jumbo loans also available!

Zero closing costs and zero points loans also available!

Portfolio lenders! Need something special most lenders can't do? Portfolio lenders may be the key! I have portfolio lenders!

Yes, I still have low to zero down payment and some stated income programs available!

These are actual retail rates at actual costs available to real people with average credit scores! I always guarantee the loan type, rate, and total cost as soon as I have enough information from you to lock the loan (subject to underwriting approval of the loan). I pay any difference, not you. If your loan provider doesn't do this, you need a new loan provider!

All of the above loans are on approved credit, not all borrowers will qualify, based upon an 80% loan to value and a median credit score on a full documentation loan. Rates subject to change until rate lock.

Interest only, stated income, bad credit and other options also available. If you need a mortgage, chances are I can do it faster and on better terms than you'll actually get from anyone else in the business.

Designing transactions for low to zero down payment a specialty

Please ask me about first time buyer programs, including the Mortgage Credit Certificate, which gives you a tax credit for mortgage interest, and can be combined with any of the above loans!

Call me. Clarion Mortgage Capital at 619-300-7425, ask for Dan. Or email me: danmelson (at) danmelson (dot) com


These are newly listed HOMESTEPS properties from Freddie Mac for the areas I work. These properties qualify for special financing.

I also have a list of upcoming HOMESTEPS properties not on the market yet

If you have questions, Contact me

La Mesa

Address: 4800 WILLIAMSBURG LN 223, LA MESA, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 185,500.00

Address: 4985 WILLIAMS AVE, LA MESA, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 241,150.00

Address: 3920 MASSACHUSETTS AVE, LA MESA, CA
Rooms: 5 Bed: 2 Bath: 1.0 Price: 279,900.00

Address: 5714 BALTIMORE DRIVE 505, LA MESA, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 129,850.00

El Cajon

Address: 589 NORTH JOHNSON AVENUE UNIT, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 87,450.00

Address: 652 SKYVIEW STREET, EL CAJON, CA
Rooms: 4 Bed: 3 Bath: 1.0 Price: 201,400.00

Address: 1266 FINCH STREEET, EL CAJON, CA
Rooms: 8 Bed: 4 Bath: 1.5 Price: 337,500.00

Address: 1423 GRAVES AVENUE 129, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 87,500.00

Address: 1723 SUMMERTIME DRIVE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 1.0 Price: 112,900.00

Address: 1272 PERSIMMON AVENUE 1, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 2.5 Price: 189,900.00

Lakeside

Address: 12616 LAKESHORE DRIVE 50, LAKESIDE, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 93,015.00

Santee

Address: 10160 PALM GLEN DR 44, SANTEE, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 143,100.00

Address: 9139 FANITA RANCHO ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 206,700.00

Address: 10507 FLORA AZALEA COURT, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 332,500.00

San Diego City

Address: 5252 ORANGE AVE 332, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 66,500.00

Address: 4323 51ST ST, SAN DIEGO, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 176,000.00

Address: 5432 BARCLAY AVENUE, SAN DIEGO, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 347,150.00

Dan Melson, Agent
Clarity Real Estate Network
619-300-7425

The new consumer article for today is Who Has A Legitimate Interest In A Real Estate Transaction?. This article goes all the way back to first principles to determine who has an interest worth getting hot and bothered over, and who is working for a paycheck, and can therefore be cut out if they do not advance the interests of those with a primary interest.

The new consumer article for today is How Agents Should Respond To An Appraisal Below Purchase Price. The appraisal is a significant client protection, and trying to manipulate the appraisal to make the transaction happen is not in a buyer's best interest, and is FRAUD besides. For sellers, to refuse to price a property to accurately reflect real market values is counterproductive because it means the property will sit on the market unsold, and listing agents who are don't act accordingly are not serving those clients best interests.

 



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