Garden Grove is a city in northern Orange County, California. It has an estimated population of 172,646 in 2018. Its leading industries are construction, services, aerospace, and biotechnology. One of its most important attractions is the Garden Grove Strawberry Festival, tone of the largest community festivals in the western United States, attracting an estimated 250,000 visitors.
The latest data from the US Census Bureau shows that there are 17,610 homes with a Mortgage in Garden Grove in 2018. The median value of mortgaged homes during the period was $529,900. The number of individuals with either a second mortgage or a home equity loan during the period was 2,039, with more people having a home equity loan. According to Zillow, Garden Grove home values have gone up by 3.1% over the past year and predicts they will rise 2.2% within the next year.
|Owner-occupied housing units with a mortgage||17,610|
|Less than $50,000||152|
|$50,000 to $99,999||179|
|$100,000 to $299,999||1,079|
|$300,000 to $499,999||6,310|
|$500,000 to $749,999||9,076|
|$750,000 to $999,999||703|
|$1,000,000 or more||111|
|With either a second mortgage, or home equity loan, but not both||2,039|
|Second mortgage only||512|
|Home equity loan only||1,527|
|Both second mortgage and home equity loan||61|
|No second mortgage and no home equity loan||15,510|
As of Tuesday, February 11, 2020, the average mortgage rates in Garden Grove was 4.01% for a 30-year fixed mortgage, 3.46% for a 15-year period, and 3.70% 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.
Mortgage brokers are licensed and regulated professionals that help mortgage borrowers find the best mortgage product and mortgage lender for their needs. Mortgage brokers work on their client’s behalf with banks and lenders to identify the best lender, loan type and term that best fit their client’s needs. Mortgage brokers work with broad list of lenders which can make searching for the best mortgage product easier. Once the borrower decides on a loan and a lender, the broker will collaborate with underwriters, title companies, and real estate agents until the mortgage is closed.
Loanbox Mortgage is a California-based mortgage company that specializes in digital solutions that make the mortgage process smoother and simpler. The company’s homeowner-friendly digital solutions have helped many clients in Garden Grove purchase their dream home and refinance existing loans. Through innovation and a proactive client team, Loanbox Mortgage has made processing mortgages quicker and more transparent for anyone looking to take out a purchase loan, jumbo loans, and other loan products.
Need help with purchasing a new home or refinancing an existing mortgage? Get a free personalized quote here.