San Diego Agent

Written by Patricia Tunstall
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San Diego Agent: A Good Resource

A San Diego agent is a primary resource for information about San Diego real estate. This is a broad subject that includes data and material on a particular town's schools, economy, transportation, churches, libraries, recreation, crime, and attractions. A knowledgeable San Diego realtor can be invaluable in many ways, from doing comparative sales analyses of East San Diego County homes to providing relocation kits to help with your move.

Ask questions of your agent; this person has the training and experience to give you perspective on buying property anywhere in the county. As an insider, an agent knows where improvements are being made in transportation, when new malls will be constructed, and why certain neighborhoods might be better for you. An agent can help you determine your buying power, and then direct you to the communities that are within your budget.

Down Payments and Loans

Saving for a down payment is fundamental to buying a home, but closing costs are another upfront expense that must be considered. Traditionally, 20% of the purchase price was acceptable, but today, some lenders have gone as low as 3%. Other institutions that only require low down payments are government programs such as those sponsored by the Department of Veterans Affairs (VA) and the Federal Housing Administration (FHA).

There are three important kinds of loans--fixed rate, adjustable rate, and hybrid loans that have characteristics of both. The interest rate on a fixed rate loan does not change, which has made this the most common type of loan. The next most popular is the adjustable rate, which means the interest rate changes, but has caps and protections. A major factor in your selection of a type of loan is how long you intend to stay in your house. Your San Diego agent can give you details on all these arrangements and help you sort out the best course for you.

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