Go Urban – Little Italy

Lending Information

If you’re considering a home purchase now or in the near future, you should brush up on your mortgage knowledge. Learn what to do before applying for a mortgage, what to watch for during the process, and how to use a mortgage after you’ve bought your home.

With loans at historically low rates this could be the perfect time to buy, invest, or refinance. And when you are ready to shop for a mortgage, I am here to help!


A mortgage is a big deal. The bank risks a lot of money, and they have been increasingly cautious since the subprime mortgage debacle. To qualify for a mortgage, good credit is essential.

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Mortgage lenders want to make sure you don’t borrow too much. They look at how much your mortgage payments are relative to your income, ensuring you have the ability to pay. Use the calculator on this website to run your own mortgage calculations and understand what you can afford.

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A 30-year fixed rate mortgage is generally the safest and best bet these days, especially if you expect to own your property for more than 5 years. However, there are other good options.

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There are a wide variety of mortgage options out there. You may find that some of the more creative ones (like interest only, negative amortization, adjustable rate) work best for you. These mortgages might work for self-employed individuals with unpredictable (but sufficient) income, real estate investors, and buyers with a specific plan. However, you can also find yourself in trouble if you don’t know the risks. Find out what to watch out for in each type of mortgage.

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A second mortgage allows you to borrow against the value of your home. If you have sufficient equity in your property you may be able to access a line of credit with an attractive rate. Find out how to use a second mortgage, and what the pitfalls are.

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It is possible to get a mortgage without a 10%-20% down payment. Even today, people get a mortgage with no money down using VA loans. There are several legitimate programs allowing you to get a mortgage with very little down like HomePath, FHA, and for teachers in California- CALSTRS. Get acquainted with some of the safer mortgage programs out there.

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There may come a time when you can get a better mortgage. Perhaps mortgage rates have changed, or your credit improved. Refinancing a mortgage is a powerful move when done for the right reasons. Find out when it makes sense to refinance a mortgage and how to do it.

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Lisa Ashkins
REALTOR®, MA, CNE
Broker Associate
CalBRE No 01764182
619.325.4192 office
619.888.2117 mobile
lisa@gourbansandiego.com