Santa Ana is the county seat of Orange County, California. It is the second-most populous city in the county, with an estimated population of 332,725 in 2018. The city is home to many major companies and has more than 13,000 business establishments. The city’s major industries include retail trade, service, and manufacturing. Tourism is also a major industry as Disneyland and Knott’s Berry Farm are located just northwest of the city, while beaches are in the southern portion of the city.
Data from the US Census Bureau shows that the total number of housing units occupied by an owner or co-owner in Santa Ana was 24,675 in 2018. The median value of mortgaged homes during the period was $547,600. The number of individuals with either a second mortgage or a home equity loan during the period was 2,620, with more people having a home equity loan.
|Owner-occupied housing units with a mortgage||24,675|
|Less than $50,000||219|
|$50,000 to $99,999||817|
|$100,000 to $299,999||1,537|
|$300,000 to $499,999||7,360|
|$500,000 to $749,999||12,635|
|$750,000 to $999,999||1,618|
|$1,000,000 or more||489|
|With either a second mortgage, or home equity loan, but not both||2,620|
|Second mortgage only||624|
|Home equity loan only||1,996|
|Both second mortgage and home equity loan||95|
|No second mortgage and no home equity loan||21,960|
As of Tuesday, February 11, 2020, the average mortgage rates in Santa Ana 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.
Many people are unable to afford a house without a loan, so they seek funding from lenders or banks. Mortgage brokers are different in that they serve as the middleman between borrowers and lenders, helping borrowers find the right mortgage product. Mortgage brokers typically work with multiple lenders and can help the client find the best product across different banks. Apart from securing loans, mortgage brokers help borrowers prepare the documents required to fund the loan.
Loanbox Mortgage is a mortgage company that maximizes the power of digital to provide Santa Clients with the best mortgage services. The company has developed homeowner-friendly digital solutions to help clients make the right financial decision every time. Loanbox Mortgage’s digital advantage has made the loan process quick and transparent for many a customer. Customers looking to take out a purchase loan, jumbo loan, business purpose loan, or other loan types can get expert help from Loanbox Mortgage’s digital home loan solutions and client support team.
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