Getting a Home Loan in San Diego

The San Diego housing market is extremely competitive and vital, as noted by Redfin.

The tough news for homebuyers is that despite expectations that the pandemic might put a damper on the market, San Diego home prices continue to rise, even in the difficult 2020 economic year. While this information may be concerning to buyers, with historically-low interest rates available it is still true that buying your dream home in San Diego may be a possibility. However, a solid financing package and short close will always help you in the bidding.

To get the best home loan possible in this market, you’ll need an experienced mortgage consultant. Vic Joshi is happy to arm you with education about the mortgage loan process and use his resources to find the best rate with the best lender for your San Diego real estate transaction.

San Diego CA mortgage loans

The City of San Diego Now

San Diego is a dream city for homeowners, and a desirable vacation destination with its miles of white-sand beaches and proximity to family-friendly destinations including the San Diego Zoo, SeaWorld San Diego, and LEGOLAND California, 92 golf courses, popular sports franchises, and the prestigious Scripps Institute and UC San Diego campuses.

San Diego is renowned for its fantastic climate, with warm, dry summers and mild winters; most of the annual precipitation falls between December and March. The annual temperature average measures above 70 degrees, with roughly 42 rainy days per year.

Before focusing on your search for San Diego mortgage loans, here are some facts about San Diego to familiarize potential home buyers with this unique area.

UC Irvine welcome sign

San Diego Trade, Culture, & Tourism

San Diego occupies a strategic location, being both on the U.S.-Mexico border and on the Pacific Rim. This has made San Diego a multicultural city and a great place for international business opportunities.

Military, tourism, research and manufacturing, and biotechnology are the primary components of San Diego’s thriving economy. A major contributor to the national military and defense since World War II, San Diego currently hosts the largest naval fleet in the world. San Diego also has several major producers of wireless cellular technology, such as Qualcomm and LG Electronics. UCSD, Scripps, and other local research institutions make San Diego a center for biotechnology and life sciences.

San Diego’s arts and culture and culinary scenes are robust. As the second largest city in California and the eighth largest in the U.S., San Diego boasts 6,400 eating establishments, many with top-tier chefs. The Balboa Park area alone is home to 15 museums, numerous art galleries, beautiful gardens, and the Tony Award-winning The Globe Theatres.

Outdoor activities are abundant. In San Diego’s East County, gentle foothills give way to mile-high mountains, to the 600,000-acre Anza-Borrego Desert State Park, which is a popular destination for hiking, camping, and fishing. To the west, 70 miles of Pacific Ocean shoreline invites year-round outdoor recreation: surfing, boating, sailing, and swimming. To the south, it’s just a short drive to visit the various border and coastal towns in Mexico, including Tijuana, Rosarito, and Ensenada.

UC Irvine welcome sign
UC Irvine welcome sign

San Diego History*

San Diego has been called “the birthplace of California.” Historically home to the Kumeyaay people, it was the first site visited by Europeans on what is now the West Coast of the United States.

Although the Kumeyaay reservations on the Mexican side of the border have largely retained their traditional heritage, on the U.S. side, they eventually ended reservation unemployment and poverty with ownership and operation of Vegas-style casinos n San Diego County.

Discovered in 1542 by European explorer Juan Rodriguez Cabrillo, San Diego was originally named San Miguel. The bay and area of present-day San Diego was given its current name 60 years later, in 1602.

European settlement in present-day San Diego County first began with the founding of the first Catholic mission, Mission San Diego de Alcala, in 1769.

From 1821 through 1848, this area belonged to Mexico.

As a result of the Treaty of Guadalupe Hidalgo in 1848, San Diego County became part of the United States, thus ending the U.S.-Mexican War. It was named the birthplace of California during the time of the creation of California statehood in 1850. Original San Diego was located at the foot of Presidio Hill, in the area now known as Old Town San Diego State Historic Park.

In 1915 and 1935, San Diego famously hosted the World’s Fair twice: the Panama-California Exposition (1915) and the California Pacific International Exposition in 1935. Both expositions were held in Balboa Park, and many of the Spanish/Baroque-style buildings that were built for those expositions remain to this day as central features of the park.

The buildings were intended to be temporary structures, but most remained in continuous use until they fell into disrepair. Most were eventually rebuilt, using castings of the original façades to retain the architectural style.

The menagerie of exotic animals featured at the 1915 exposition provided the basis for the San Diego Zoo.

*Source: Wikipedia, About San Diego