San Francisco is the cultural and economic center of Northern California, with a population of 884,363, making it the 13th-most populous city in the country and the fourth-most populous in California. It’s one of the highest-income counties in the US, with a GDP of $154.2 billion in 2015 and a GDP per capita of $177,968. It is the location of numerous global brands and tech companies, including Airbnb, Uber, Salesforce, Reddit, and many others. Tourist flock to the city from all over the world to see the Golden Gate Bridge and other local destinations.
San Francisco has one of the highest median household income levels in the country, but it also has one of the highest median property value at $1.1 million. San Francisco home values have gone up by 2.9% over the past year, according to Zillow, and it predicts that they will rise further by 1.4% within the next year.
As of Friday, May 3, 2019, the mortgage rates in Anaheim are 4.34% for a 30-year fixed mortgage, 3.85% for a 15-year period, and 4.8% for a 5/1 ARM mortgage.
Better.com. Better has no physical offices and relies on a fully online process for loan applications, with loan officers only acting as support. It claims to have one of the fastest application processing time of only three minutes, and said it can offer a preapproval letter within 24 hours. It doesn’t offer government-backed VA and USDA loans, but it offers zero lender fees for other products.
New American. This lender is perfect for those who don’t fit the traditional credit scoring system, because it considers more than automated credit criteria. The company also offers low-priced down payment options for qualified borrowers. It has a fully functional online platform that provides mortgage application forms, rate quotes, and loan tracking, in addition to access to a loan professional. Home equity loans are not available, yet purchase, refinance, jumbo, and interest-only loans are on offer.
Rocket Mortgage. Rocket mortgage has no physical offices, but it can offer mortgages through a fully automated system that can access the asset statements of numerous financial institutions, making it possible to tell a borrower the loan amount they’re qualified for within minutes. This is perfect for those looking to acquire a loan without the intervention of brokers. It doesn’t offer home equity loans or HELOCs, but has the products of most lenders, such as conventional loans and government-backed mortgages.