Buying a House

Property Tax Calculation for San Diego Real Estate – Tips for Homeowners

Property Tax is Boring. Read This Anyway. Why am I writing about property tax calculation? Because I’m not just your real estate broker, I’m your real estate advisor. I want you to have the freedom to make informed choices throughout your entire real estate experience: when you buy a home, while you live in it, and when you sell it. Almost everyone thinks that since real estate property tax is inevitable, there’s no good reason to

San Diego Rent Cap Law – Rent Increase Limits – 2025 Edition

Fox News interviewed me about the rent cap law – see it here. The rent increase limit, or rent cap, became effective on January 1, 2020. And, even though this happened over FIVE YEARS ago, I have trouble finding accurate information, or even a decent guide explaining what IS the rent cap maximum for San Diego County. So, here we are. If you have experienced the same frustration, I hope this article helps. If you

Rent increase limit – San Diego County rent cap law

Rent Increase Limit in San Diego County – updated for 2025 2025 UPDATE: Includes the updated CPI, which was released April 10, 2025. Also, Fox 5 News interviewed me about the rent cap law – check out the interview here. The rent increase limit, or rent cap, became effective on January 1, 2020. And, even though this happened over FIVE YEARS ago, I have trouble finding accurate information, or even a decent guide explaining what

Disabled Veterans Property Tax Exemption – How to Apply

The Disabled Veterans Property Tax Exemption is for certain military veterans, or their unmarried surviving spouses. Who is eligible for the tax exemption? Basic vs. Low-Income Exemption – what are the income limits? When do I file for the exemption? If I miss the deadline, can I still file late? How do I file? Who is Eligible? This exemption is for veterans who, because of injury or disease from military service, are: blind in both

Mortgage Waiting Periods After a Bankruptcy, Foreclosure, or Short Sale

Mortgage Waiting Periods After a Bankruptcy, Foreclosure, or Short Sale How long do you have to wait before you can get a new mortgage? Mortgage waiting periods depend on what type of loan you want to use for your next home. The good news is, you may only need to wait as little as 2 years! To that end, here’s a breakdown of the waiting periods, based on the event. Mortgage Waiting Periods After Bankruptcy

Mortgage Loan Limits – Conventional, VA, FHA Home Loans

2025 Mortgage Loan Limits Mortgage loan limits will increase on January 1, 2025. In San Diego, the jumbo loan limit for a single family home will be $1,077,550. Here is a current list of the limits for all counties in the United States. San Diego County Effective January 1, 2025, here are the three tiers of mortgages for properties in San Diego County: When lenders talk about mortgage loan limits, they’re referring to conforming loan limits.

Renovation Loans – Buying and Renovating a Fixer Property

One of real estate’s best-kept secrets is the Renovation Loan. Renovation loans can help buyers afford to buy and rehab a home. Both the purchase price and the renovation costs are tied into one single mortgage. Your loan is closed in as-is condition, utilizing the after-improved value. Renovation Loans aren’t just for home buyers – if you currently own a home, you can refinance your home with a Renovation Loan, to pay for improvements. Here’s what renovation

Mortgage Affordability Calculation – How Much Home Can I Afford?

Mortgage Affordability Calculation – The First Step for Home Buyers Almost all home buyers begin with the same question: How Much Home Can I Afford? Only your lender can give you a definitive answer, but Nick Richardson at JMJ Mortgage has provided a simple formula to get you started. Use the 43% Rule for a quick mortgage affordability calculation. You can also use my Mortgage Approval Estimate Worksheet to help you determine how much home you can buy. Lenders Approve a Total

Buyer Closing Costs – Buying a Home in California

When you plan to buy a home, one of the first things to know is how much cash you need to get started. This article outlines: Buyer closing costs depend on lots of things, including the type of loan, the type of property, the final sales price, and even your credit rating. You can print this Cost to Buy a House Worksheet to estimate your buyer closing costs. This worksheet includes the upfront costs, which are paid at

Home Buying – New Commission Rules

Unless you have been boycotting all media lately (I wouldn’t blame you), you have heard that the rules have changed for buyer agent commissions. I won’t go into details about the class action lawsuits, but you can read more about the National Association of REALTORS® settlement here. Today’s home buyers should know: What are the new commission rules that I need to follow? There is only ONE new requirement for home buyers: Before an agent

How Much Does it Cost to Own a House?

Are you planning a budget for your existing home, or considering buying a home? There are plenty of mortgage calculators available online, but they don’t include all homeowner expenses. How much does it really cost to own a house? Use my Monthly Housing Costs Worksheet to help plan your monthly expenses. The Cost to Own a House – Not Just the Mortgage Homeownership can build net worth, provide financial stability, and even create a source of rental

Conventional Home Loan Programs – as low as 3% down

Conventional home loan programs are the most common loan programs used to buy a home. They make up around 60% of all mortgages. NOTE: You can also check your eligibility for two other popular loan programs, FHA Loan Programs and VA Loan Programs. FHA loans are insured by the Federal Housing Administration (FHA) and down payment starts at 3.5%. VA loans are insured by the Veteran’s Administration and offer no down payment, and no monthly mortgage insurance.

Property Tax Postponement Program for California Homeowners

Need some relief from property tax bills? If you are a homeowner in California and over 62, blind, and/or disabled, you may qualify for the Property Tax Postponement Program. (NOTE: If you are a military veteran with a service-connected disability, read about the Disabled Veterans’ Property Tax Exemption.) Eligible homeowners can postpone payment of current-year property taxes on their primary residence. Postponed amounts are secured by a lien against the property, and accrue interest at a rate of 5%.

Closing Costs for Cash Buyers in California

Are you an all-cash buyer? When you pay with cash, you can enjoy a negotiating advantage, a shorter escrow period, and you pay fewer escrow fees. Here’s a list of closing costs for cash buyers, and an example of the costs for a cash purchase of a $500,000 home. NOTE: These costs apply to California sales. If you are buying a home outside of California, these numbers probably don’t apply. Check with a local real estate company

Self Employed Buyers – How to Finance Your Home

If you’re self employed, how do you qualify to buy a home? How do you satisfy a lender without regular bi-weekly paychecks? Many self employed people are afraid that they can’t qualify for a mortgage, because they don’t receive a certain amount of income every two weeks. Here’s the good news: many self employed people can qualify to buy a home. If you identify as a sole proprietor, W-9 employee, freelancer, or independent contractor, your loan

Where Can I Go to Get a Mortgage? – Mortgage Lenders 101

What are the different types of mortgage lenders out there? Whether you’re looking to buy or refi, there are plenty of companies competing for your business. While they all serve the purpose of financing a real estate purchase, they can look very different from each other. So how do you decide where to go and what to look for? Here’s a quick rundown on the different types of lenders, and how I, as a real

Home Buying and Credit Repair – How to Improve Your FICO Score

When planning to buy a home, one of the first questions to ask is: What is my mortgage FICO score? Here’s how your FICO score affects your ability to buy a home, and how to improve it. What is a “Mortgage” FICO Score? FICO scores vary, by credit agency and inquiry type. The FICO score that you can order online will be different from what a mortgage lender obtains. I have also heard that the

Buying a Multifamily Property in San Diego County – Duplex, Triplex, Quadriplex

Multifamily Property – Buy with only 5% down payment! Did you know that you can buy a multifamily property with only 5% down payment? If you live in one unit, and rent out the other units, you can use an owner occupied loan to purchase! Loan Limits for Multifamily Properties For properties that include more than one single-family residence, the 2024 San Diego loan limit is higher: Duplex (a home divided into two residences): $1,288,200Triplex

Buyer Escrow Timeline – What to Expect When Buying a Home

Buyer Escrow Timeline Congratulations! Your offer was accepted, and you have opened escrow on your new home. So what’s next? How long should everything take? Is there a general escrow timeline to follow? It usually takes between 30 to 60 days for an escrow to close. Sometimes the escrow timeline can be shorter or longer. You and the Sellers agree to an escrow timeline during the contract negotiation. Here’s a general escrow timeline for home buyers. While every

San Diego Down Payment Assistance – San Diego Housing Commission

Can you afford a monthly mortgage bill, but need San Diego down payment assistance? Good news! There are San Diego down payment assistance programs for low- and median-income home buyers in San Diego County. Here are some details about the Housing Commission’s San Diego down payment assistance programs, including how to qualify, and how to apply. Deferred Loans DCCA CalHome Down Payment Assistance – Outside San Diego City Limits The DCCA CalHome program is one

North County San Diego Real Estate Market Report – October 2023

Update: The Real Estate Market in North County San Diego Data Source: Mylene’s Real Estate Market Report uses data from CRMLS for 2021-2023 and represents properties listed or sold by various brokers. Housing Inventory In most North County cities, San Diego housing inventory has been climbing slowly since the beginning of 2023. We hope for a break in interest rates, to incentivize more owners to sell. Today, there are many home buyers who are waiting

Down Payment Funding – Solutions for Home Buyers

One of the biggest obstacles for home buyers is having enough cash up front. Many home buyers qualify for the monthly housing payment, yet they don’t have enough cash to cover the down payment and closing costs. While this can seem daunting, there are some ways to get around this financial obstacle. Check the California database of current down payment programs! When Do I Need a Down Payment? Most buyers need to provide a down

Down Payment Assistance – CalHFA Loan and Grant Programs

The California Housing Finance Agency (CalHFA) was established in 1975. CalHFA provides home financing and down payment assistance programs for low to moderate income Californians. If you take out an eligible CalHFA first mortgage loan, you may be eligible for additional CalHFA down payment assistance: MyHome Assistance Program, which can be combined with the Zero Interest Program (ZIP) Conventional, FHA, and VA Programs School and Teacher Employee Assistance Program (formerly Extra Credit Teacher Home Purchase Program) Cal-EEM

Owner Alert Service for San Diego County Homeowners – FREE to sign up

Owner Alert Service – FREE for San Diego County Homeowners Thanks to the San Diego County Assessors Office, there’s a new measure you can take to protect yourself from fraud. Why Do I Need Owner Alert? Companies and individuals can record documents that link to either you, your trust, or your property. This can be a lien, a forged grant deed, or a number of other records. Unless you know to look for it, you