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San Diego County just completed its biggest year of low-income housing construction. This signals real momentum in the region as National City buyers plan their moves.
Interest Only Loans let borrowers pay just interest for a set period. Then you transition to principal-and-interest payments later on.
700+
Minimum Credit Score
20% or more
Typical Down Payment
$102,285
County Median Income
5-10 years typical
Interest-Only Period
Interest-Only Loans in National City
Interest Only Loans typically require a 700+ credit score and 20% down. Lenders want to see solid financial footing before approving this product.
San Diego County's median household income of $102,285 supports purchases in the $400,000 to $550,000 range. Your actual buying power depends on your specific income, debts, and reserves.
Local decision guide
Use this guide to connect interest-only loans eligibility, lender expectations, and local market factors before comparing payment options in National City.
San Diego County just completed its biggest year of low-income housing construction. This signals real momentum in the region as National City buyers plan their moves.
Interest Only Loans let borrowers pay just interest for a set period. Then you transition to principal-and-interest payments later on.
Interest Only Loans typically require a 700+ credit score and 20% down. Lenders want to see solid financial footing before approving this product.
California lenders offering Interest Only Loans focus on borrower qualification and property type. Most require full documentation and strong reserves to offset the payment reset risk.
Brokers in the state typically work with portfolio lenders for Interest Only products. Retail banks rarely offer them, so broker access becomes critical here.
Interest Only Loans make sense for National City buyers with predictable income growth. If you plan to sell or refinance within five years, the lower early payment saves real money.
They don't work for buyers stretching to afford a home. The payment jump at reset can be painful if your income hasn't grown.
Interest Only Loans start with lower monthly payments than conventional 30-year fixed loans. Conventional loans build equity immediately, while Interest Only defers that until reset.
Conventional loans offer simplicity and predictability. Interest Only trades that certainty for lower early costs.
The team behind Galū Cafe is opening a sister location in City Heights this fall. Growing food and dining scenes signal neighborhood investment that supports property values.
San Diego is navigating state requirements for high-rise housing near transit stops. These policy shifts may reshape National City's development patterns and buyer demand.
Your payment increases significantly because you start paying principal. Plan for a 30-50% jump depending on your loan terms. Refinancing or selling before reset is common.
Yes—20% down is standard for this product. Some lenders may accept 15% with strong credit and reserves. Most require 20% as the typical floor.
Probably not. First-time buyers usually benefit from conventional loans that build equity immediately. Interest Only works best for experienced buyers with clear plans.
Yes—most lenders allow extra principal payments without penalty. Paying down principal early reduces your reset payment and total interest. Ask your lender about this upfront.
Most lenders require 700 or higher. Some portfolio lenders go as low as 680 with strong compensating factors. San Diego brokers can help you find options.