Point Loma lists 9 mortgage and lending professionals across the peninsula in 92106 and 92110. ONEIL Team, Shelter Island Capital, and California Lending Company serve the peninsula's homebuyers, including active-duty families using VA home loans from Naval Base Point Loma.
1033 B Ave Suite 105, Coronado, CA 92118
+1 619-554-1327
VerifiedBased in Coronado
3940 Hancock St #109, San Diego, CA 92110
+1 619-269-4444
Verified2915 Cañon St, San Diego, CA 92106
+1 619-454-0914
Verified2305 Historic Decatur Rd Suite 100, San Diego, CA 92106
+1 619-535-7477
Verified2907 Shelter Island Dr, San Diego, CA 92106
+1 619-806-7003
Verified2305 Historic Decatur Rd Suite 100, San Diego, CA 92106
+1 619-567-6940
Verified2468 Historic Decatur Rd #150, San Diego, CA 92106
+1 858-356-4005
Verified3738 Amaryllis Dr, San Diego, CA 92106
+1 619-316-3106
Verified1005 Rosecrans St Ste 101, San Diego, CA 92106
+1 805-722-9120
Verified846 Moana Dr, San Diego, CA 92106
+1 619-992-8360
VerifiedONEIL Team at United American Mortgage is one of the most reviewed lenders on the peninsula, handling conventional, FHA, VA, and jumbo loans for Point Loma homebuyers. Shelter Island Capital focuses on residential and commercial lending near the Shelter Island waterfront area.
California Lending Company and Mark Chrisman also write mortgages for peninsula buyers, with Chrisman known across the lending industry for his daily mortgage market commentary. Merchants Home Lending rounds out the local options. For adjacent neighborhoods, OBMortgage in Ocean Beach also handles loans for buyers along the coast.
Mortgage rates in San Diego fluctuate daily based on Federal Reserve policy, economic data, and individual lender pricing. As a general benchmark, 30-year fixed rates in the San Diego market have typically run within a quarter-point of the national average, though jumbo loans—common in Point Loma where many homes exceed the conforming loan limit—may carry slightly different rates than conforming products.
The best way to get an accurate rate is to request quotes from multiple lenders. ONEIL Team and Shelter Island Capital both provide rate quotes for Point Loma purchases. Comparing at least three lenders typically saves borrowers a fraction of a point on their rate, which can mean tens of thousands of dollars over a 30-year term on a peninsula home priced above $1 million.
Income requirements for a Point Loma home depend on the price point and loan type. At a median around $1.2–$1.5 million, conventional lenders generally want a debt-to-income ratio below 43 percent. That translates to a household income of roughly $200,000–$300,000 per year, assuming a 20 percent down payment and moderate existing debt.
VA loans offer more flexibility for military buyers—no down payment is required, and the VA's residual income test can qualify buyers who might be borderline on DTI with a conventional lender. ONEIL Team works with VA-eligible buyers regularly and can run pre-qualification numbers based on current income, credit score, and projected insurance costs.
A VA home loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs, available to active-duty service members, veterans, and eligible surviving spouses. The main advantages are zero down payment, no private mortgage insurance, and typically lower interest rates than conventional loans. Point Loma's large active-duty population at Naval Base Point Loma makes VA loans one of the most common mortgage products on the peninsula.
VA loans do require a funding fee that ranges from 1.25 to 3.3 percent of the loan amount depending on down payment and prior VA loan use. Some veterans with service-connected disabilities are exempt. California Lending Company and ONEIL Team both handle VA purchases and can walk eligible buyers through the Certificate of Eligibility process and the appraisal requirements specific to VA transactions.
Conventional mortgages typically require 5–20 percent down. On a $1.5 million Point Loma home, that means $75,000–$300,000 in cash at closing. Buyers who put down less than 20 percent pay private mortgage insurance, which adds $100–$300 per month to the payment depending on loan size and credit score.
VA loans require no down payment, making them the most accessible path to homeownership for eligible military buyers on the peninsula. FHA loans allow as little as 3.5 percent down but have loan limits that may not cover Point Loma's higher price points. Shelter Island Capital and Merchants Home Lending can outline which loan products fit specific down payment situations, and pairing a lender with a knowledgeable real estate agent helps identify sub-zones with entry-level pricing.
A mortgage broker shops your loan application across multiple wholesale lenders rather than lending directly, which can result in better rates and terms than going to a single bank. Brokers in Point Loma typically work with 10–30 wholesale lenders and match borrowers based on credit profile, down payment, property type, and loan amount.
Mark Chrisman operates as a mortgage consultant on the peninsula and is recognized in the lending industry for his daily market analysis. Brokers are paid by the lender in most transactions, so the borrower pays no additional fee for the rate-shopping service. On a Point Loma purchase where jumbo limits, VA eligibility, and competing offers all factor in, a broker who knows the local market can be the difference between a smooth closing and a stalled one.
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