Mirna Rios
NMLS #239526 World Wide Credit Corp 880 Canarios Court #120B Chula Vista, CA 91910 619-726-7348  |  619-649-2223

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Words from Your Soccer Mom/Loan Originator

Already in the first quarter of the year we have seen interest rates rise and I anticipate this trend to continue slowly as the Fed sees the overall economy strengthening.  As a result I have spend a lot of time this year educating prospective buyers on the state of the market and how to prepare for homeownership in this type of environment.


Unfortunately some current homeowners have encountered recent challenges.  Specifically, homeowners who want to remove FHA mortgage insurance by refinancing have been left waiting for home values to increase past the 80% combined loan to value ratio. With conventional rates on the rise this makes homeowners subject to home appreciation even more than before. Increasing rates and slow appreciation together make some scenarios more difficult than others. My advice to homeowners with a FHA mortgage is: Be patient. The market will have its seasons, and until you are at a point where you have value in your favor, stay the course and keep making those monthly payments on time.


For buyers looking to purchase a home this spring and summer, please remember that interest rates are still historically low and local rental rates are increasing. It’s always a good time to buy in San Diego when you have a strong credit (FICO) score, income and down payment. Especially if the monthly payment is well within reach, you can’t go wrong owning property in Americas Finest City.  In most cases, owning is just a few hundred dollars more a month than renting. If you are flexible with your search criteria, you can accumulate equity through homeownership. And in the long run you will be able to sell at a gain, upgrade to a larger property or even hold your initial home as investment property. Click here to e-mail me and I can help you navigate through all your options

Your Dedicated Loan Officer

Mirna Rios

NMLS #239526 Direct: 619.726.7348 Fax: 619.649.2223

World Wide Credit Corp
880 Canarios Court #120B
Chula Vista, CA91910

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give me a call at 619-726-7348 - I´m happy to answer all your questions.

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