Dan Melson: January 2009 Archives

Once per month I post all of the consumer focused articles from other places that are submitted - removing the garbage, the spam and the irrelevant.

January's Consumer Focused Carnival of Real Estate is now up.


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 (There's a good one in La Mesa!)

If you have questions, Contact me

La Mesa

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

El Cajon

Address: 1509 E WASHINGTON AVE UNIT 10, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 109,900.00

Address: 589 NORTH JOHNSON AVENUE 230, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 66,500.00

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

Address: 908 SOUTH SUNSHINE AVENUE UNIT, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,000.00

Address: 228 ROANOKE ROAD, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,640.00

Address: 174 CHAMBERS STREET 11, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 111,300.00

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

Address: 587 DOWNER AVENUE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 2.0 Price: 265,000.00

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

Address: 830 BROADWAY UNIT 27, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,990.00

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: 5 Bed: 3 Bath: 1.0 Price: 112,900.00

Address: 1174 PERSIMMON AVE, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 177,000.00

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

Lakeside

Address: 9719 WINTER GARDENS BLVD 159, LAKESIDE, CA
Rooms: 4 Bed: 1 Bath: 1.0 Price: 48,900.00

Address: 12923 MAPLEVIEW ST, LAKESIDE, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 67,840.00

Address: 12741 LAUREL ST UNIT 53, LAKESIDE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 122,500.00

Address: 13106 LAUREL ST, LAKESIDE, CA
Rooms: 7 Bed: 3 Bath: 2.0 Price: 294,900.00

Santee

Address: 9556 ABBEYFIELD ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 214,900.00

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

San Diego City

Address: 4209 45TH STREET 7, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,900.00

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

Address: 4570 54TH UNIT 116, SAN DIEGO, CA
Rooms: 5 Bed: 1 Bath: 1.0 Price: 114,500.00

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

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

The new consumer article for today is Jumbo Loans and The Current Market (January 2009). There is always a tradeoff between rate and cost on mortgage loans, but lenders vary exactly what that tradeoff is in order to suit their current purposes, and right now, they have set it to essentially demand two points on Jumbo loans.

The Best Loans Right NOW

Conforming Rates

Thirty Year Fixed Rate Loans

4.75% 30 Year fixed rate loan, with one point (total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2087, APR 4.877! 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 4.25 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

5/1 ARMs have not seen the same drop as thirty year fixed rate loans (over half a percent at the same cost) so they are actually more expensive right now than the 30 year fixed. Given that, there is no reason to prefer them.

NONCONFORMING ("JUMBO") RATES

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

I should mention that nobody is offering "no points" rates or even close to it on jumbo loans. Two points total seems to be about as low as anyone is offering on anything jumbo (I take it back - there's one lender offering a "no points" rate - at ten percent). The only silver lining seems to be that if you're willing to go three points, you seem to get a rate that is more than worth the difference in most cases.

Thirty Year Fixed Rate Loans

6.375% "Jumbo" 30 Year fixed rate loan, with 3 points total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4367, APR 6.704! 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

5.75% "Jumbo" 5/1 ARM, with three points total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4085, APR 6.067! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 Jumbo ARMs as low as 4.875 percent (But you'd have to be crazy to pay that many points!)

All rates above are intended for San Diego County, and include a 30 day lock. 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!

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

The new consumer article for today is Be Careful Moving Your Down Payment Money. Underwriters want to see a trail on any money you have. If you don't have or can't show such a trail, the presumption is going to be that you got a loan, which pretty much means you don't qualify for the loan you need to buy that property.


By the way, you may notice these lists are getting shorter. There's a reason: inventory is dropping. And yes, once again I'm a day behind the list date.

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: 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

El Cajon

Address: 1509 E WASHINGTON AVE UNIT 10, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 109,900.00

Address: 294 CHAMBERS STREET 53, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 59,900.00

Address: 589 NORTH JOHNSON AVENUE 230, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 69,500.00

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

Address: 908 SOUTH SUNSHINE AVENUE UNIT, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,000.00

Address: 228 ROANOKE ROAD, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,640.00

Address: 174 CHAMBERS STREET 11, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 111,300.00

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

Address: 587 DOWNER AVENUE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 2.0 Price: 265,000.00

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

Address: 830 BROADWAY UNIT 27, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,990.00

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: 5 Bed: 3 Bath: 1.0 Price: 112,900.00

Address: 1174 PERSIMMON AVE, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 177,000.00

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

Lakeside

Address: 12923 MAPLEVIEW ST, LAKESIDE, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 67,840.00

Address: 12741 LAUREL ST UNIT 53, LAKESIDE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 122,500.00

Address: 13106 LAUREL ST, LAKESIDE, CA
Rooms: 7 Bed: 3 Bath: 2.0 Price: 294,900.00

Santee

Address: 9556 ABBEYFIELD ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 214,900.00

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

San Diego City

Address: 4209 45TH STREET 7, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,900.00

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

Address: 4570 54TH UNIT 116, SAN DIEGO, CA
Rooms: 5 Bed: 1 Bath: 1.0 Price: 114,500.00

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

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

The new consumer article for today is Fifteen Year Loans: Are They A Good Idea?. Lots of nonsense gets put out there about fifteen year loans, and to many people there is a certain cachet to only needing fifteen years to pay off a property. But even though the interest rate is lower, there are downsides.

The new consumer article for today is There Is Always A Reason For A Low Asking Price. Sellers are not looking for people to sell their property to below market price. Usually, low asking prices should be even lower than they are.

Yes, it's a bank holiday but I still got most of my rate updates. I have the time today, so here it is:

The Best Loans Right NOW

Conforming Rates

Thirty Year Fixed Rate Loans

5.125% 30 Year fixed rate loan, with three tenths point (total discount and origination) to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2178, APR 5.192! 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 4.25 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

5/1 ARMs have not seen the same drop as thirty year fixed rate loans (over half a percent at the same cost) so they are actually more expensive right now than the 30 year fixed. Given that, there is no reason to prefer them.

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 2.25 points total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4540, APR 7.005! 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 6.125 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

6.5% "Jumbo" 5/1 ARM, with one point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4424, APR 6.628! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 Jumbo ARMs as low as 4.75 percent (But you'd have to be crazy to pay that many points!)

All rates above are intended for San Diego County, and include a 30 day lock. 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!

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

The new consumer article for today is "Quantity Has A Quality All Its Own": Low Price. When people can get a good for less than previously, then not surprisingly they will buy more of it in the aggregate. It all goes back to supply and demand.


I guess they decided Sunday wasn't working out and went back to Thursdays. I got a new list last night.

By the way, you may notice these lists are getting shorter. There's a reason: inventory is dropping.

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: 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

El Cajon

Address: 1509 E WASHINGTON AVE UNIT 10, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 109,900.00

Address: 294 CHAMBERS STREET 53, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 59,900.00

Address: 589 NORTH JOHNSON AVENUE 230, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 69,500.00

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

Address: 908 SOUTH SUNSHINE AVENUE UNIT, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,000.00

Address: 228 ROANOKE ROAD, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,640.00

Address: 190 CHAMBERS STREET 14, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 114,900.00

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

Address: 587 DOWNER AVENUE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 2.0 Price: 265,000.00

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

Address: 830 BROADWAY UNIT 27, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,990.00

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: 5 Bed: 3 Bath: 1.0 Price: 112,900.00

Address: 1174 PERSIMMON AVE, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 177,000.00

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

Lakeside

Address: 12923 MAPLEVIEW ST, LAKESIDE, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 67,840.00

Address: 12741 LAUREL ST UNIT 53, LAKESIDE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 122,500.00

Address: 13106 LAUREL ST, LAKESIDE, CA
Rooms: 7 Bed: 3 Bath: 2.0 Price: 294,900.00

Santee

Address: 9556 ABBEYFIELD ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 214,900.00

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

San Diego City

Address: 4209 45TH STREET 7, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,900.00

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

Address: 4570 54TH UNIT 116, SAN DIEGO, CA
Rooms: 5 Bed: 1 Bath: 1.0 Price: 114,500.00

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

The Best Loans Right NOW

Conforming Rates

Thirty Year Fixed Rate Loans

4.625% 30 Year fixed rate loan, with one point (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 4.25 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

5/1 ARMs have not seen the same drop as thirty year fixed rate loans (over half a percent at the same cost) so they are actually more expensive right now than the 30 year fixed. Given that, there is no reason to prefer them.

NONCONFORMING ("JUMBO") RATES

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

Thirty Year Fixed Rate Loans

6.625% "Jumbo" 30 Year fixed rate loan, with 2.25 points total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4482, APR 6.879! 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 6.125 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

6.375% "Jumbo" 5/1 ARM, with one point total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4367, APR 6.502! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 Jumbo ARMs as low as 4.75 percent (But you'd have to be crazy to pay that many points!)

All rates above are intended for San Diego County, and include a 30 day lock. 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!

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: 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

El Cajon

Address: 1509 E WASHINGTON AVE UNIT 10, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 109,900.00

Address: 1509 EAST WASHINGTON AVENUE UNIT 16, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 109,900.00

Address: 294 CHAMBERS STREET 53, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 59,900.00

Address: 589 NORTH JOHNSON AVENUE 230, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 69,500.00

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

Address: 908 SOUTH SUNSHINE AVENUE UNIT, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,000.00

Address: 228 ROANOKE ROAD, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,640.00

Address: 190 CHAMBERS STREET 14, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 114,900.00

Address: 587 DOWNER AVENUE, EL CAJON, CA
Rooms: 6 Bed: 3 Bath: 2.0 Price: 265,000.00

Address: 1266 FINCH STREEET, EL CAJON, CA
Rooms: 8 Bed: 4 Bath: 1.5 Price: 349,800.00

Address: 830 BROADWAY UNIT 27, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,990.00

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: 5 Bed: 3 Bath: 1.0 Price: 112,900.00

Address: 1194 DENVER LN E, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 1.5 Price: 166,950.00

Address: 1174 PERSIMMON AVE, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 177,000.00

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

Lakeside

Address: 12923 MAPLEVIEW ST, LAKESIDE, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 67,840.00

Address: 12741 LAUREL ST UNIT 53, LAKESIDE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 122,500.00

Address: 13106 LAUREL ST, LAKESIDE, CA
Rooms: 7 Bed: 3 Bath: 2.0 Price: 294,900.00

Santee

Address: 10323 CAREFREE DRIVE, SANTEE, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 114,480.00

Address: 7895 RANCHO FANITA DR E, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 1.5 Price: 199,900.00

Address: 9556 ABBEYFIELD ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 214,900.00

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

San Diego City

Address: 4209 45TH STREET 7, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,900.00

Address: 5252 ORANGE AVE 332, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 78,500.00

Address: 4570 54TH UNIT 116, SAN DIEGO, CA
Rooms: 5 Bed: 1 Bath: 1.0 Price: 114,500.00

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


This morning I updated my popular article Refinancing When You Owe More Than The Home Is Worth, talking about the changes in the possibilities since I originally wrote it.

I really want to be writing more original stuff, but my schedule right now has been tough. I hope this will change enough to allow me to resume my previous writing schedule soon.

The Best Loans Right NOW

Conforming Rates

Thirty Year Fixed Rate Loans

4.9% 30 Year fixed rate loan, with NO POINTS, either discount or origination to the consumer and NO PREPAYMENT PENALTIES!. Assuming a $400,000 loan, Payment $2123, APR 4.939! 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 4.25 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

5/1 ARMs have not seen the same drop as thirty year fixed rate loans (over half a percent at the same cost) so they are actually more expensive right now than the 30 year fixed. Given that, there is no reason to prefer them.

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 two points total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4540, APR 6.979! 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 6.125 percent (But you'd have to be crazy to pay that many points!)

5/1 Hybrid ARM Rates

6.25% "Jumbo" 5/1 ARM, with two points total discount and origination, and NO PREPAYMENT PENALTIES!. Assuming a $700,000 loan, Payment $4310, APR 6.472! This is a fully amortized thirty year loan with the interest rate fixed for five years. 5/1 Jumbo ARMs as low as 5.00 percent (But you'd have to be crazy to pay that many points!)

All rates above are intended for San Diego County, and include a 30 day lock. 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 our 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!

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

Sorry I'm a bit late with this. I will try very hard to do a "Real Loans for Real People" tomorrow.

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: 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

El Cajon

Address: 1509 EAST WASHINGTON AVENUE UNIT 16, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 109,900.00

Address: 1509 E WASHINGTON AVE UNIT 10, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 132,500.00

Address: 294 CHAMBERS STREET 53, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 59,900.00

Address: 589 NORTH JOHNSON AVENUE 230, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 69,500.00

Address: 717 CHAMBERLAIN AVENUE, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 1.5 Price: 74,200.00

Address: 908 SOUTH SUNSHINE AVENUE UNIT, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,000.00

Address: 228 ROANOKE ROAD, EL CAJON, CA
Rooms: 4 Bed: 2 Bath: 2.0 Price: 99,640.00

Address: 190 CHAMBERS STREET 14, EL CAJON, CA
Rooms: 5 Bed: 2 Bath: 2.0 Price: 114,900.00

Address: 1266 FINCH STREEET, EL CAJON, CA
Rooms: 8 Bed: 4 Bath: 1.5 Price: 349,800.00

Address: 830 BROADWAY UNIT 27, EL CAJON, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,990.00

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: 5 Bed: 3 Bath: 1.0 Price: 121,900.00

Address: 1526 STONE EDGE CIRCLE, EL CAJON, CA
Rooms: 7 Bed: 2 Bath: 2.0 Price: 162,500.00

Address: 1194 DENVER LN E, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 1.5 Price: 166,950.00

Address: 1174 PERSIMMON AVE, EL CAJON, CA
Rooms: 5 Bed: 3 Bath: 1.0 Price: 177,000.00

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

Lakeside

Address: 12923 MAPLEVIEW ST, LAKESIDE, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 67,840.00

Address: 12741 LAUREL ST UNIT 53, LAKESIDE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 122,500.00

Address: 13106 LAUREL ST, LAKESIDE, CA
Rooms: 7 Bed: 3 Bath: 2.0 Price: 294,900.00

Santee

Address: 10323 CAREFREE DRIVE, SANTEE, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 114,480.00

Address: 7895 RANCHO FANITA DR E, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 1.5 Price: 199,900.00

Address: 9556 ABBEYFIELD ROAD, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 214,900.00

Address: 10235 BRIGHTWOOD LANE 3, SANTEE, CA
Rooms: 6 Bed: 3 Bath: 3.5 Price: 282,500.00

Address: 10507 FLORA AZALEA COURT, SANTEE, CA
Rooms: 5 Bed: 3 Bath: 2.0 Price: 344,500.00

San Diego City

Address: 4209 45TH STREET 7, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 64,900.00

Address: 5252 ORANGE AVE 332, SAN DIEGO, CA
Rooms: 3 Bed: 1 Bath: 1.0 Price: 78,500.00

Address: 4570 54TH UNIT 116, SAN DIEGO, CA
Rooms: 5 Bed: 1 Bath: 1.0 Price: 114,500.00

Address: 4287 48TH STREET, SAN DIEGO, CA
Rooms: 4 Bed: 2 Bath: 1.0 Price: 136,500.00

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

Address: 4322 52ND STREET, SAN DIEGO, CA
Rooms: 6 Bed: 3 Bath: 2.0 Price: 188,150.00

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

 



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