The current market trends indicate that mortgage interest rates continue to decline, and this could mean one thing: more people will become interested in applying for a new loan. Hence, competition among borrowers gets tougher. And if you are applying for a mortgage loan yourself, you should come well-prepared. It will boost your chances of getting the best deals in the market.

Now, there are certain things you can do to increase your chances of getting the best jumbo loan rates, San Diego. Considering doing the following:

Check out the jumbo loan threshold in your area. The thing is, all you need might be a conforming loan. Jumbo loan thresholds vary from one state to another. However, for most parts of the country, they start at $510,400. In the case of California (and Washington DC), $765,600 is the dividing line.

Revisit your credit score and LTV. Before you even reach out to a mortgage broker or lender, make sure your credit score and LTV are ready. These two play a crucial role in jumbo loan rates, San Diego. Remember, the higher the number, the better. Better numbers can get you an upper hand in the market to get better rates. 720 credit score and 80% loan-to-value ratio are the minimum numbers to qualify for the best deals.

Do your research to compare interest rates. Of course, lenders are not equal. Some are way better than the rest when it comes to interest rates. There are plenty of mortgage marketplaces online where you can make a comparison of their offer. Experts recommend shopping around and get offers from at least three lenders. Compare their annual percentage rates or APRs.

Work with a jumbo mortgage lending specialist. They say you get the best results on some things if you leave them to an expert. If you want to get the best deal in town, consider working with a jumbo mortgage loan expert. A broker can walk you through the process, and he can track mortgage rates for you. It will help ensure that you get updated with the current trends on jumbo mortgage rates.

Online looking for the best jumbo loan rates, San Diego? Talk to an expert at Homeplus Mortgage today.

Please call at 800-958-7587 (PLUS).