Newport Beach Mortgage and Mortgage Brokers

 

About Newport Beach

 

Newport Beach is a coastal city in Orange County. Its population was estimated to be at 85,326 in 2018. Newport Harbor once supported maritime industries but today it is used mostly for recreation and is known for surfing and sandy beaches. Popular beaches include those from the Santa Ana River to the tip of the Balboa Peninsula, Corona del Mar State Beach, and the beaches at Crystal Cove State Park. Newport Beach is home to one Fortune 500 company and several smaller companies.

 

Newport Beach Mortgage Statistics

 

According to the US Census Bureau, the median value of mortgaged homes in 2018 was $611,600.

 

Value Estimate
Owner-occupied housing units with a mortgage N
VALUE
Less than $50,000 N
$50,000 to $99,999 N
$100,000 to $299,999 N
$300,000 to $499,999 N
$500,000 to $749,999 N
$750,000 to $999,999 N
$1,000,000 or more N
Median (dollars) 1,987,100
MORTGAGE STATUS
With either a second mortgage, or home equity loan, but not both 1,579
Second mortgage only 186
Home equity loan only 1,393
Both second mortgage and home equity loan 0
No second mortgage and no home equity loan 10,583

 

Newport Beach Mortgage Rates

 

As of Wednesday, February 12, 2020, the average mortgage rates in Newport Beach was 3.83% for a 30-year fixed mortgage, 3.28% for a 15-year period and 3.55% 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 3.83%
15-Year Fixed 3.28%
5/1 ARM 3.55%

 

Newport Beach Mortgage Brokers

 

As the middleman between borrowers and lenders, a mortgage broker can help find a lender that meets the homeowner’s needs and financial requirements like a lower down payment or the best interest rate possible. For example, if a borrower is looking to take out a Federal Housing Administration (FHA) or Veterans Affairs (VA) loan, a mortgage broker who understands the requirements for these types of loans can simplify the process. This is why brokers are an ideal choice for first-time homebuyers or people who have no time to shop around for deals from lenders.

Loanbox Mortgage is a Newport Beach mortgage broker that uses the power of digital tools and solutions to make the mortgage process faster and more transparent. Through our homeowner-friendly mortgage solutions, Loanbox Mortgage has eliminated outdated systems, unnecessary fees and delays in the mortgage process. We care about our customers and look forward to finding you the best mortgage at your preferred best rate and term. Whether you are looking to buy a new home or refinance your existing mortgage, we can help. Loanbox Mortgage and our mortgage brokers serve customers all over Orange County, including Newport Beach.

 

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