Fullerton is a city located in northern Orange County, California. It had a population of 139,640 in 2018. In the 90s, Fullerton was home to a large industrial base made up of aerospace contractors, canneries, paper products manufacturers. Fullerton today is a full-service city known for its unique mix of residential, commercial, educational, and cultural environments. Its Downtown District has numerous shops, restaurants, and clubs. Dubbed as “The Education Community,” the city is home to award-winning elementary and secondary school systems.
According to the US Census Bureau, there are 16,957 owner occupied housing units with a mortgage in Fullerton, CA. The number of individuals with either a second mortgage or a home equity loan during the period was 1,975, with a majority having home equity loans than a second mortgage. The median value of mortgaged homes during the period was $685,200. Zillow predicts that Fullerton home values will rise by 1.6% within the next year.
|Owner-occupied housing units with a mortgage||16,957|
|Less than $50,000||142|
|$50,000 to $99,999||0|
|$100,000 to $299,999||493|
|$300,000 to $499,999||2,688|
|$500,000 to $749,999||6,961|
|$750,000 to $999,999||4,354|
|$1,000,000 or more||2,319|
|With either a second mortgage, or home equity loan, but not both||1,975|
|Second mortgage only||374|
|Home equity loan only||1,601|
|Both second mortgage and home equity loan||529|
|No second mortgage and no home equity loan||14,453|
As of Wednesday, February 12, 2020, the average mortgage rates in Fullerton was 3.86% for a 30-year fixed mortgage, 3.31% for a 15-year period and 3.59% for a 5/1 ARM mortgage. The previous rates in January were 3.75% for a 30-year fixed mortgage, 3.23% for a 15-year mortgage, and 3.68% for a 5/1 ARM.
A mortgage broker can save the consumer time and effort in locating the best possible loan. Unlike bank loan officers who can only offer mortgage products available at their bank, mortgage brokers have the advantage of having access to sources of financing from multiple financial institutions, including those outside the customer’s location. With a mortgage broker, consumers can save money during the process, be given more loan options, and receive expert advice regarding the mortgage’s fine print, which can save time.
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Loanbox Mortgage and our mortgage brokers serve customers all over Orange County, including Fullerton. Need help with purchasing a new home or refinancing an existing loan? Get a free personalized quote here.