Atascadero Home Loans

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Buying a home in Atascadero? Here are some considerations for your home loan

When purchasing a home, a major consideration is selecting your home loan. If you are looking for a great rate on an Atascadero home loan, you’ve come to the right place. One of your biggest single expenses will probably be your mortgage payment, so be sure to choose your mortgage broker carefully. When getting your home loan you will have the option of choosing a fixed rate or an adjustable rate.

A fixed has a set term length and a set interest rate. A fixed rate home mortgage is very steady and predictable and the interest rate is set at what the current interest rate is when you obtain the loan.  An adjustable rate home mortgage changes as interest rates go up or down. But often times the payments with adjustable rate loans is cheaper

Another important thing to take into consideration is how much you will need for a down payment.  Down payments can range from zero to 25 percent of the home’s cost; however, the average down payment ranges from five to 15 percent.

Spinnaker Financial has a team of experts who can help you select the perfect home loan in Atascadero. Call them at (805) 238-3516.

Atascadero home prices

The median price of a home in the city is $368,000, while the median home price for homes in the state of California is $428,510.

History of Atascadero

home loans atascadero 93442
The historic city hall building in Atascadero, CA

Atascadero, zip code 93422, has a population of 28,310 and is located halfway between Los Angeles and San Francisco along Highway 101. The city was founded in 1913 by E.G. Lewis. Atascadero was the first planned community in the state and was later incorporated in 1979.

“Atascadero” is a Spanish word. It loosely translates as “bog” and from the verb “atascar” which means to get stuck or to hinder. The Spanish Franciscan missionaries traveled through the area from 1769 to 1823 when they build 21 missions along the state’s coast—including the missions in San Miguel and San Luis Obispo. Mexico won its independence from Spain in 1821 and California then became a Mexican province.

Rancho Atascadero was established in 1833 when Governor Pio Pico granted 40,000 acres to Pedro Estrada. Twenty-three thousand of those acres became the rancho. Lewis, a magazine publisher from the Midwest, purchased the rancho from J.H. Henry for $37.50 an acre and received the deed on July 4, 1913. Lewis envisioned Atascadero as a utopian community and promised future residents in some areas of the city that they could provide for their families on one acre of land. The centerpiece of the city is the City Administration Building, which was completed in 1918. The massive building was heavily damaged in the 2003 San Simeon Earthquake and reopened in August 2013.

Need a home loan in Atascadero? Call the mortgage experts at Spinnaker Financial at (805) 238-3516


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