Irvine Mortgage and Mortgage Brokers


About Irvine


Irvine is a master-planned city in Orange County, with a population of about 282,572 in 2018. Its main industries are technology and the semiconductor sector. The city is home to several educational institutions, such as the University of California, Irvine (UCI). Popular destinations include the Ayn Rand Institute, Orange County Great Park, and the locations of many film projects. Irvine is considered one of the best cities for startups owing to its fast-growing economy. Because of this, it is also one of the cities in the US with an expensive median property value.


Irvine Mortgage Statistics


The latest data from the US Census Bureau shows that there are 32,455 homes with an Mortgage in Irvine in 2018. The median value of mortgaged homes during the period was $834,600—one of the highest in Orange County. About 88% of the residents surveyed during the period said that have neither a second mortgage nor a home equity loan.


Value Estimate
Owner-occupied housing units with a mortgage 32,455
Less than $50,000 42
$50,000 to $99,999 0
$100,000 to $299,999 1,233
$300,000 to $499,999 1,962
$500,000 to $749,999 9,864
$750,000 to $999,999 9,308
$1,000,000 or more 10,046
Median (dollars) 834,000
With either a second mortgage, or home equity loan, but not both 3,977
Second mortgage only 1,028
Home equity loan only 2,949
Both second mortgage and home equity loan 51
No second mortgage and no home equity loan 28,427


Irvine Mortgage Rates


As of Tuesday, February 11, 2020, the average mortgage rates in Irvine are 3.98% for a 30-year fixed mortgage, 3.41% for a 15-year period, and 3.64% 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.


Period Average
30-Year Fixed 3.98%
15-Year Fixed 3.41%
5/1 ARM 3.64%


Irvine Mortgage Brokers


Mortgage brokers differ from lenders in that they are an intermediary between the mortgage borrower and the mortgage banks that actually make the loan. They help borrowers find the best quotes from various lenders, so instead of dealing with many lenders separately, a broker simplifies the process by become the primary point person for the loan. Once the borrower makes a selection, the broker will help the borrower prepare the documents needed to complete the application.


Another compelling reason to seek the help of a broker is that they don’t ask for a fee from the borrower. They are paid a commission by the lender after they close a loan, so a borrower need not worry about spending extra on fees.


Loanbox Mortgage is a mortgage company that uses digital tools to make the loan process easier for borrowers. The company specializes in a variety of homeowner-friendly digital solutions to help clients make informed decisions about the right loan products. Its unique and modern approach to mortgage loan processing has made the entire process quick and transparent. Loanbox Mortgage’s digital home loan solutions and client support team offer a quick, simple, and fully transparent service for anyone in Irvine looking to purchase a new home or refinance an existing loan.


Need help with purchasing a new home or refinancing an existing mortgage? Get a free personalized quote here.