Mortgage Questions, Straight Answers

Start with the basics: look the broker up on NMLS Consumer Access to confirm they're licensed in California and see their history. Then read reviews from real clients on sites the broker doesn't control, like Google, Zillow and Experience.com.

After that, pay attention to how they treat you before you're a client. Do they pick up the phone? Do they explain things in plain English? Will they give you an official Loan Estimate you can compare side by side with other offers? A good broker is comfortable with you shopping around.

For what it's worth, I've been doing this out of Encinitas for 20+ years. You can verify my license and read what my clients say. More on this in How to Choose a Mortgage Broker in Encinitas.

A bank can only offer its own loans. A broker compares loans from many wholesale lenders and helps you pick the one that fits. Through C2 Financial Corporation, I can shop a broad network of lenders, including programs most banks don't offer, like bank-statement loans for self-employed borrowers, DSCR loans for investors and bridge loans.

Wholesale pricing is often competitive, though every loan is different. The trade-off: you're counting on your broker to shop well. That's why licensing, reviews and whether they actually call you back all matter.

Often less than people expect, though San Diego prices make the dollars real. The median existing single-family home in San Diego County sold for about $1,050,000 in September 2026 (California Association of Realtors). Here's roughly what that looks like:

• VA loan: $0 down for eligible veterans and service members.
• FHA loan: 3.5% down, about $36,750 at the median price. The 2026 FHA limit for a single-family home in San Diego County is $1,104,000.
• Conventional loan: as little as 3% down for some first-time buyers when the loan is within the standard limit of $832,750. High-balance conventional loans (up to $1,104,000 here) usually need at least 5% down.
• Jumbo loan: above $1,104,000, usually 10% to 20% down depending on the lender.
• 20% down on a conventional loan avoids mortgage insurance. On the median price, that's about $210,000.

Plan for closing costs on top of the down payment, and know that down payment assistance can close part of the gap. Figures are as of October 2026 and do change.

The big four:

• FHA: 3.5% down with flexible credit guidelines.
• Conventional: as little as 3% down for qualifying first-time buyers.
• VA: $0 down for eligible veterans and service members.
• CalHFA programs: a first mortgage paired with down payment help. CalHFA's Dream For All program offers shared-appreciation down payment assistance when a funding round is open, and San Diego County has local assistance programs too.

Which one fits depends on your credit, income, savings and price range. That's the conversation I like to have early, before you fall in love with a house. See First-Time Buyers for more.

Yes. Options include a bridge loan that uses the equity in your current home for the down payment, a HELOC on your current home, and buy-before-you-sell programs that let you make a non-contingent offer. Each has costs and trade-offs, so it's worth running the numbers before you start shopping. More in Buy Before You Sell.

Often, yes. If your tax returns show lower income because of business write-offs, a bank-statement loan can qualify you based on 12 or 24 months of personal or business deposits instead. These are non-QM loans, so rates and down payments usually run higher than conventional, but they open the door for a lot of business owners. More in Bank Statement Loans in San Diego.

Two main ways:

• HELOC (home equity line of credit): draw what you need, when you need it. Usually a variable rate.
• Home equity loan (fixed-rate second mortgage): one lump sum with a fixed payment.

Both sit behind your existing first mortgage, so you keep its rate and terms. That matters a lot if you locked in a low rate a few years ago.

If you're 62 or older, a reverse mortgage is another option. It pays off your existing mortgage and removes the monthly mortgage payment, so it replaces your first loan rather than adding a second one. See Reverse Mortgage vs. HELOC for a side-by-side.

Yes, they're one of my specialties. The FHA-insured HECM is available to homeowners 62 and older, and its 2026 maximum claim amount is $1,249,125. If your home is worth more than that, we can also compare private (jumbo) reverse mortgages. You'll need to live in the home, complete HUD-approved counseling and keep up with property taxes, insurance and upkeep. Details on the Reverse Mortgages page.

That's me. I'm a mortgage broker based in Encinitas with 20+ years in the business, licensed throughout California through C2 Financial Corporation. Most of my business comes from referrals, and I spend most of my time helping families, first-time buyers, self-employed borrowers and homeowners weighing a reverse mortgage. More about me.

My NMLS number is 125241 and my California DRE license is #01388543. I'm licensed throughout California through C2 Financial Corporation (NMLS #135622, CA DRE #01821025). You can verify my license on NMLS Consumer Access.

Nope. A consultation is free and comes with no obligation. You'll get straight answers and real numbers, and you decide what to do from there.

Whatever's easiest for you: call or text 858-472-2053, email mike@mikefake.com, or start a secure online application.