San Francisco, CA Mortgage Lender

Getting a mortgage approval can be complicated, especially in today’s changing market.

Lots of rules, lots of paperwork, lots of questions.

But it doesn’t have to be this way.

Working with a San Francisco mortgage lender that understands the ins and outs of the lending landscape can make all the difference – saving you time and money, making it easy to confidently find the right financing option.

Fast, Free Ironclad Approvals

Over 91% of our mortgage applications get approved.

This isn’t by accident.

It’s a combination of taking the time to listen to our clients so that we can come up with common-sense mortgage solutions and by working hard to get them the best rate.

But competitive interest rates are only half the battle. It the quality service before, during, and after the loan is closed that makes all the difference.

Best part?

Our underwriters review each file to make sure that its protected against any unforeseen bumps and that your home loan transaction goes smoothly, because at the end of the day, that’s what matters!

About the City of San Francisco, CA

San Francisco, CA is located on the northern coast of California and borders the Pacific Ocean. The city has a rich history dating back over 500 years to when it was known as Yerba Buena, meaning “good herb” in Spanish. It later became San Francisco and was officially incorporated in 1847. In addition to being the birthplace of California.

San Francisco is also known for its progressive political and social movements, as well as being a hub for tourism and trade. The city is also home to the famous Golden Gate Bridge, which is one of the most recognized symbols of the United States.

Buying a Home in San Francisco, CA

Are you ready to make San Francisco, California your home?

With its vibrant culture, history and breathtaking natural beauty, San Francisco is an ideal place for those looking for a permanent residence.

What’s more, San Francisco’s real estate market is booming with prices consistently increasing year after year. That means investing in a home now can save you money in the long run while giving you access to all that the city has to offer. So don’t wait—invest in your future and make this diverse metropolis your new home.

Some questions we get about buying a home in San Francisco are:

• What salary do you need to buy a house in San Francisco?
• Is buying a house in San Francisco a good investment?
• Is San Francisco a good place to buy real estate?
• Is it a good time to buy a house in San Francisco?

When you start thinking about buying a house, it can be tempting to fire up those real estate apps and browse thousands of photos, imagining which home you could own.

But doing your homework ahead of time will better prepare you for the homebuying process, especially when there’s a hot market and fierce competition.

From understanding what you can afford, to navigating the paperwork, we will provide all the information necessary to help ensure that your experience is as hassle-free as possible.

What Are Mortgage Lenders in San Francisco, CA Looking For?

1. Your credit score: In general, the higher your credit score, the more creditworthy you are (i.e., less risky a borrower) to your potential lenders.
2. Your payment history: Your payment history is just what it sounds like: A history of how you’ve paid bills such as credit cards, auto loans, student loans, etc. – really anything that would appear on your credit report. Mortgage lenders prefer borrowers who have a history of making on-time payments. The fewer late payments you have on your credit report, the more appealing you are to them. It should come as no surprise, then, that your payment history makes up 35 percent of your total credit score — more than any other individual factor.
3. Your income and employment history: Due to the fact that most mortgages are repaid over a period of 15 to 30 years, mortgage lenders need to ensure that their borrowers will be able to repay the loan. When you apply for a mortgage, the lender will contact your employer to verify that you are indeed employed. However, they will also review your employment history for the past two to three years, looking for periods of unemployment.
4. Your debt-to-income ratio: A debt-to-income ratio (DTI) indicates how much debt you have compared to how much income you earn. So if your gross monthly income is $5,000 and you spend $1,000 of it paying off debts (such as minimum credit card payments, student loans, car payments and even child support), then your debt-to-income ratio is 20 percent.
5. Your assets: Your lender will not only consider your employment history and income, but also whether you have additional assets that could be converted into cash. You can use these assets as a source of cash flow in case you lose your job. If that happens, you will still be able to make your mortgage payments on time, even if you lose your job.
6. Your down payment: Lenders care about the size of your down payment for several reasons. A larger down payment means a smaller mortgage and a lower loan-to-value ratio (the percentage of your home’s value your financing), which means less risk for the lender. As a borrower, you will also be more attractive if your mortgage is smaller, resulting in a lower DTI.

What Documents Do I Need To Get A Mortgage in San Francisco, CA?

Right before your loan is submitted to underwriting, you’ll be required to send in documents such as:

• Employment information
• Income documents like tax returns, pay stubs, etc
• Debts and assets

How to Get a Mortgage in San Francisco, CA?

It can be confusing to decide on the best way to get a mortgage, but there are a few things to consider before you make your decision.

Your credit score, income stability, debts and expenses, current assets and debt-to-income ratio all play an important role in the approval process. You should also take into account the condition and value of the property you are purchasing.

Depending on your financial goals and stability, you may decide to go for a 15-year or a 30-year mortgage. A 15-year mortgage can save you money in the long run due to lower interest rates, but you will have higher monthly payments. On the other hand, a 30-year mortgage may be more affordable, but keep in mind that it might cost more in the long run due to higher interest rates.

It is important to think carefully about your financial goals and stability before deciding between the two options. With careful thought and consideration, you can make the best decision for your future.

Types of Loans Available in San Francisco, CA

It’s important to work with a trusted mortgage lender to find the right loan to match your needs and budget.

FHA Loans

FHA loans present a unique opportunity to secure a home loan when compared to traditional mortgages. With just a 3.5% down payment, less-than-perfect credit is not an issue.

FHA loan requirements are very flexible, making them ideal for many prospective homeowners. If you’re looking to buy a home and you don’t have enough money to make the traditionally required down payment, a FHA loan could be the answer for you!

Learn more about FHA loans in San Francisco, CA.

VA Loans

VA loans are the perfect choice for veterans, active-duty military personnel, and eligible spouses. Brought to you by the U.S. Department of Veterans Affairs, these loans provide special opportunities like 0% down payment and easier credit requirements.

To qualify, you must be a veteran, an active military member, or the spouse of a currently serving soldier – and your income should be steady and meet certain limitations. In terms of your credit score, it should be in good standing.

Learn more about VA loans in San Francisco, CA.

USDA Loans

Are you looking to buy a home in the countryside or on the outskirts of town? The USDA home loan could be just what you need!

To be eligible for this loan, you’ll need to meet certain income, credit, and property eligibility criteria. Your annual household income must not exceed 115% of the median income in your area. Credit requirements are more lenient than traditional mortgages, but having a good credit score and debt-to-income ratio will definitely help.

Finally, your chosen property needs to be situated in an area that meets USDA’s criteria – so double check with their property eligibility map first!

Learn more about USDA loans in San Francisco, CA.

Jumbo Loans

Jumbo loans provide borrowers with access to funds larger than the conforming loan limits set by the Federal Housing Finance Agency (FHFA). Unlike loans backed by government-sponsored enterprises such as Fannie Mae and Freddie Mac, jumbo loans tend to have stricter lending requirements and higher interest rates.

They are commonly used to purchase luxurious properties or homes in highly expensive neighborhoods where the cost of the loan surpasses the conforming loan limit. Non-conforming loans are another name for jumbo loans.

Learn more about Jumbo loans in San Francisco, CA.

30 Yr Fixed Mortgage

30-year fixed mortgages have become the go-to choice for many homebuyers due to their endless advantages.

One of the key benefits is that these loans allow owners to make lower payments month over month, as they are spread out over a longer period of time. This can be especially helpful if you have other financial obligations such as student loans or car payments.

Another great perk of a 30-year fixed mortgage is that it provides reliable and steady payments. The interest rate and monthly payments remain consistent throughout the entire loan duration, making financial planning and budgeting simpler.

Learn more about 30-Year Fixed Rate mortgages in San Francisco, CA.

15 Yr Fixed Mortgage

One of the biggest benefits of a 15-year fixed mortgage is that it allows homeowners to have one easy payment, providing security during volatile rate environments. This means that they will be able to build equity in their home faster and may be able to pay off their mortgage entirely before they retire.

The only real downside is that most 15-year fixed mortgages come with higher monthly payments because they have to be paid back in a shorter timeframe.

Learn more about 15-Year Fixed Rate mortgages in San Francisco, CA.

Adjustable Rate Mortgage

An adjustable rate mortgage (ARM) could help you save more and give you the flexibility you need. These mortgages initially offer lower rates than traditional loans, but they can adjust depending on the market. This way, you get to take advantage of current market rates while still keeping your risk level at a comfortable amount.

Before making a decision, it’s important to think through the pros and cons of an ARM. Do your due diligence and talk to a mortgage expert before diving into an ARM.

Learn more about Adjustable Rate mortgages in San Francisco, CA.

Frequently Asked Questions

How do I contact your mortgage company in San Francisco, CA?

If you’re interested in getting in touch with us about mortgage options, you have a couple of options. First, you can fill out the contact form on our website and we’ll get back to you as soon as possible. Or, if you prefer to speak with us directly, you can give us a call at 888-670-7550.

We’re here to answer any questions you have and help you find the best mortgage solution for your needs. No pressure, just friendly assistance.

Where is your San Francisco, CA mortgage office located?

We service the area near San Francisco City Hall, but are licensed to do business in all of San Francisco. Virtual appointments are available as well.

How do I choose a home that will make a good investment?

Researching the local market is a great first step when it comes to investing in real estate. Get up-to-date on developments, get a feel for the economic climate, and analyze median home prices to better understand your potential ROI. Secondly, scout out homes that have great potential, even if they don’t look the part right now. Then, decide what kind of lifestyle you’d like, whether urban or suburban. You could also get expert advice from a real estate professional since they can support you with evaluating investments, reviewing legal documents, and negotiating prices.

When is the best time to lock my interest rate?

If you are comfortable with your monthly payment at a certain rate, you should lock in. Rates fluctuate daily, and no one can predict when the lowest rate will be locked. When you reach this point in the process, we’d be more than happy to give you our professional mortgage opinion.