
In today’s uncertain times, many are questioning what loan amount they may qualify for – or whether they can qualify for a loan at all. To break through the noise, California West Communities answers the two most pressing questions on potential buyers’ minds. Ready for the answers? You may be pleasantly surprised.
Question: How do I know how much I can qualify for?
Answer: At California West Communities like Crosby Villas, Pacific Sun Mortgage is the mortgage loan servicer that will help you through the pre-qualification process. They take into account your income, credit, monthly expenses and down payment ability when screening you for pre-qualification. Your answers will help Pacific Sun Mortgage compare loan program options and advise you as to the best course of action.
Question: How do I determine which mortgage and loan program is best for me?
Answer: The two most common loan types are fixed rate mortgages and adjustable rate mortgages. On a fixed rate mortgage, the interest rate remains the same over the term of the loan. On an adjustable rate, the interest on the loan is offered at a lower start rate, and fluctuates (typically at an increase) over the term of the loan.

It should be noted that in recent years, when those who qualified for an adjustable rate couldn’t meet their higher interest rate loan payments, they eventually defaulted on their loans – thereby contributing to the housing crash. If you agree to an adjustable rate mortgage, you should be prepared for any changes to your interest rate.
For more information on qualifying for a home loan, contact Crosby Villas – or, any of the exceptional San Diego new homes from California West Communities. Crosby Villas new home sales team can be reached at (858) 759-7911 Monday noon to 5 pm, or Tuesday through Sunday 10 am to 5 pm.