Local Home Loans in San Bernardino - Your Mortgage Broker in CA

FAQ San Bernardino County 

General Information

• How large is San Bernardino County? San Bernardino County is the largest county by area in the contiguous United States, covering over 20,100 square miles. Its sheer size means it includes a wide variety of landscapes, from mountains and forests to desert and urban centers.

• What is the population? With a population of over 2.1 million residents, it is the fifth-most populous county in California and the 14th most populous in the United States. The vast majority of the population lives in the southwestern portion of the county, known as the Inland Empire.

• What are the major cities? The county seat is the city of San Bernardino. Other major cities include Fontana, Rancho Cucamonga, Ontario, Victorville, Rialto, and Chino.

Economy: San Bernardino County 

Economy and Cost of Living

• What are the main industries in the county? The economy is diverse. Major sectors include logistics and transportation (driven by its location as a hub for freight traffic from the Ports of Los Angeles and Long Beach), healthcare, retail, and tourism. The military also has a significant presence, and the mountain and desert communities rely on tourism.

• How does the cost of living compare to the rest of California? The cost of living in San Bernardino County is significantly lower than in coastal California counties like Los Angeles, Orange, and San Diego, particularly in terms of housing. However, it is still higher than the national average.

Attractions and Things to Do

• What are the most popular attractions? The county is known for its outdoor and recreational attractions. Popular destinations include:

  • Big Bear Lake and Lake Arrowhead: Popular mountain resorts for skiing, snowboarding, boating, hiking, and fishing.

  • Mojave National Preserve: A vast desert wilderness area with unique geological formations and wildlife.

  • Joshua Tree National Park: Parts of this iconic desert park are within San Bernardino County.

  • Route 66: A significant portion of the historic route runs through the county, with many museums and retro diners.

  • Mount Baldy: A popular destination for hiking and skiing.

FAQ for buying a home in San Bernardino 

How much cash do I need to buy a home there?

Besides your loan amount, you will need to prepare for two major costs:

• Down Payment: This is the percentage of the home's purchase price you pay upfront. Depending on your loan type, this can range from 3% to 20% or more.

• Closing Costs: These are fees and expenses paid at the close of a real estate transaction. In San Bernardino County, closing costs typically range from 2% to 5% of the purchase price.

How long does the homebuying process take?

From an accepted offer to the final closing, the process with a mortgage typically takes between 30 and 60 days. The timeline can be influenced by the speed of your lender, the results of the home inspection, and the efficiency of the appraisal and underwriting processes.

Are there any unique local taxes or fees I should know about?

Yes, you should be aware of Mello-Roos taxes. These are special assessments found in many master-planned communities and newer developments throughout the county. Mello-Roos taxes fund public infrastructure like roads, schools, and parks. They are added to your regular property tax bill and can significantly increase your monthly payment. Your real estate agent is required by law to inform you if a property is in a Mello-Roos district.

How do property taxes work in San Bernardino County?

Like the rest of California, property taxes are determined by Proposition 13. The base tax is 1% of the home's purchase price. However, local voter-approved bonds and special assessments are added on top of this, often bringing the effective tax rate to around 1.25% to 1.4%. The tax is paid annually or in two installments.

What is the best strategy for making a strong offer?

• Secure Pre-Approval: A mortgage pre-approval is vital. It shows sellers you have the funds to back your offer.

• Make a Clean Offer: In a competitive market, minimizing contingencies (such as waiving an inspection or appraisal contingency) can make your offer more appealing. However, this carries risk.

• Be Flexible: Offering a flexible closing date that aligns with the seller's needs can make your offer stand out.