Skip to main content
US Bank
Email david.deteso@usbank.com Call Call 831-688-7161
About me
Calculator
Reviews
FAQ
  • About me
  • Calculator
  • Reviews
  • FAQ

Mortgage Loan Officer

David DeTeso

Mortgage Loan Officer

NMLS# 453626

831-688-7161

Reviews on Zillow

Connect with David

  • david.deteso@usbank.com
  • 831-688-7161
  • 831-234-1045

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

About me

No matter where you are in the home buying process, I can help.

  • As a mortgage loan officer right here in Santa Cruz, I work with you to help you find the right mortgage for your unique situation.
  • You probably have lots of questions. How much house can I really afford? Which type of mortgage best fits my needs? I can help you answer questions like that and I've worked with lots of people in and around Santa Cruz with home financing needs similar to yours.

I'm proud to work for a reputable bank like U.S. Bank, and you can trust me to do what's right for you. So give me a call at 831.688.7161.

Certifications

  • Certified Builder Mortgage Loan Officer

Service areas include

  • California
  • New England
  • Texas
  • Florida

Primary location

U.S. Bank area served
Santa Cruz, CA 95003

Connect with David

  • Email david.deteso@usbank.com

  • 831-688-7161

  • 831-234-1045

  • Request a Call

    Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Explore more

Mortgage calculator

Estimate your total monthly mortgage payment.

Run the numbers

Reviews

See what customers are saying about me.

Read my reviews

Mortgage FAQ

Get answers to common home-buying questions.

Commonly asked questions

Resources for builders and realtors

You need a lender that cares about your clients as much as you do.

Builder resource center Real estate agent resource center

Mortgage calculator

Use our mortgage calculator to help you better understand your home financing options.

David DeTeso

Mortgage Loan Officer

NMLS# 453626

831-688-7161

  • david.deteso@usbank.com

  • 831-688-7161

  • 831-234-1045

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Reviews

Zillow

David DeTeso

Mortgage Loan Officer

NMLS# 453626

831-688-7161

  • david.deteso@usbank.com

  • 831-688-7161

  • 831-234-1045

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Mortgage FAQ

Get answers to your questions regarding home financing, refinancing and more.

American Dream mortgage loan

American Dream is a mortgage loan program only available through U.S. Bank. It’s designed to help low- to-moderate income borrowers get into their next home. Benefits of the American Dream loan include a low down payment option, mortgage insurance that's covered by U.S. Bank, and down payment assistance up to $5,500 or 3% of the purchase price up to $10,000 (whichever is greater), which may be used for repairs, down payment and/or closing costs.

Lot loans

If you’re considering a lot loan, there are a variety of qualifying factors, including but not limited to, credit score, down payment amount and debt-to-income ratio. Contact your mortgage loan officer to learn more about how to get a lot loan.

A lot loan is a mortgage that pays for a residential lot on which a single-family detached home will be built in the near future. It’s different from a construction loan in that it only pays for the lot the home will be built on. The construction loan pays for the construction of the home itself. Condo properties and properties with existing structures on the site are not eligible.

Lot loans are available to qualified buyers who are interested in buying a lot to build a home on. With lot loans, the initial interest rate is fixed for a set period and then becomes variable, adjusting every year for the remaining life of the loan. For example, a 5/1 ARM lot loan has a fixed rate for the first five years and an adjustable rate for the remaining duration of the loan. To learn more about how lot loans work, connect with your mortgage loan officer.

First-time home buyers

Depending on your home-ownership goals, there are several options for first-time home buyer loans. Some examples include Federal Housing Administration (FHA), Veterans Affairs (VA) and United States Department of Agriculture (USDA) loans, which allow for low to no-down payments for qualified buyers. Conventional loans are another option, and you could qualify with a credit score as low as 620 but you’ll need a more substantial down payment (up to 20% depending on your situation). It’s important to consider the benefits of different loan options before deciding which one is right for you.

To qualify for mortgage loans that are best suited for first-time home buyers, there are general requirements that can include:

  • Credit Score
  • Down payment amount
  • Household income limitations

Your mortgage loan officer can work with you to see if you qualify for any first-time home buyer loans.

If you have not owned a home in the last three years, you may be eligible to apply for a first-time home buyer loan and down payment assistance. The requirements for each loan type vary, but they typically are based on your credit score and down payment amount. Contact your mortgage loan officer to see if you qualify.

ARM loans

An adjustable-rate mortgage (ARM) is a home loan that has an initial fixed-rate period of five, seven or 10 years and an adjustable rate after the fixed-rate period ends. After the introductory rate term expires, the estimated payment and rate may change. An increase or decrease depends on the market conditions at the time of the conversion to the variable rate and during the adjustment period thereafter. An ARM loan could be a good option if you plan to sell within a few years.

With an (ARM) loan the initial interest rate is fixed for a set period and then becomes variable, adjusting periodically for the remaining life of the loan based on market conditions. For example, a jumbo 10/1 ARM has a fixed rate for the first 10 years and an adjustable rate for the remaining duration of the loan, adjusting every year. A 7/6 ARM has a fixed rate for the first seven years and an adjustable rate for the remainder of the loan, adjusting every six months. To learn more about how ARM loans work, connect with your mortgage loan officer.

Yes, an existing ARM loan can be refinanced upon credit approval. The benefits of refinancing a mortgage , may include replacing the terms of your current loan with terms that are more favorable for you, lowering monthly payments, getting access to cash for major purchases and reducing your interest rate. Your mortgage loan officer can help you find the right choice for your needs.

Jumbo loans

A jumbo loan is for single-family homes with loan amounts greater than $806,500. In certain high cost areas, such as Alaska and Hawaii, the loan amount must be greater than $1,209,750. To qualify for a jumbo mortgage loan, you must meet the established guidelines for credit score, income and other personal financial information.

Jumbo loans are mortgages that exceed conforming loan limits. The limit on conforming loans is $806,500 in most areas of the country, but jumbo mortgages can exceed these limits. The limit can be as high as $1,209,750 in certain high cost areas, including Alaska and Hawaii.

A VA jumbo loan is a Veterans Affairs (VA) loan that exceeds the conforming loan limit of $806,500 and up to $1,209,750 in high-cost areas such as Alaska and Hawaii. If you’re an active-duty service member, veteran or eligible surviving spouse, and you meet the income and credit requirements, a VA jumbo loan could be an option for you.

David DeTeso

Mortgage Loan Officer

NMLS# 453626

831-688-7161

  • david.deteso@usbank.com

  • 831-688-7161

  • 831-234-1045

  • Connect when it's convenient for you. Request a call.

Ready to apply? Start your application.

Apply

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, home equity and credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC. Equal-Housing-Lender" Equal Housing Lender

Calculators are provided by Leadfusion. This calculator is being provided for educational purposes only. The results are estimates that are based on information you provided and may not reflect U.S. Bank product terms. The information cannot be used by U.S. Bank to determine a customer's eligibility for a specific product or service. All financial calculators are provided by the third-party Leadfusion and are not associated, controlled by or under the control of U.S. Bank, its affiliates or subsidiaries. U.S. Bank is not responsible for the content, results, or the accuracy of information.

1. The rates above assume you have a down payment, or equity, of at least 25% for a conventional fixed-rate loan, an adjustable-rate mortgage (ARM) loan or a jumbo loan, at least 3.5% for an FHA loan and 0% for a VA loan.

Conforming fixed-rate estimated monthly payment and APR example: A $464,000 loan amount with a 30-year term at an interest rate of 6.500% with a down-payment, or borrower equity of 25% and no discount points purchased would result in an estimated monthly principal and interest payment of $2,933 over the full term of the loan with an annual percentage rate (APR) of 6.667%.

Estimated monthly payment and APR calculation are based on a down-payment, or borrower equity of 25% and borrower-paid finance charges of 0.862% of the base loan amount. If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment does not include amounts for taxes and insurance premiums and the actual payment obligation will be greater.

ARM estimated monthly payment and APR example: A $464,000 loan amount with a 30-year term at an interest rate of 6.875% with a down payment, or borrower equity of 25% and no discount points purchased would result in an initial estimated monthly principal and interest payment of $3,048 with an annual percentage rate (APR) of 7.488%.

Estimated monthly payment and APR calculation are based a fixed-rate period of five years that could change in interest rate every six months for the next 25 years of the loan term, a down-payment, or borrower equity of 25% and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable. After the five-year introductory period: the APR is variable and is based upon an index plus a margin. The APR will vary with a predetermined index known as the Secured Overnight Financing Rate (SOFR). If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment does not include amounts for taxes and insurance premiums. Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment.

FHA estimated monthly payment and APR example: A $265,375 base loan amount with a 30-year term at an interest rate of 6.250% with a down payment, or borrower equity of 3.5% and no discount points purchased would result in an estimated monthly principal and interest payment of $1,663 over the full term of the loan with an annual percentage rate (APR) of 7.478%.

Estimated monthly payment and APR calculation are based on a down payment, or borrower equity of 3.5% and borrower-paid finance charges of 0.862% of the base loan amount. Estimated monthly payment and APR assumes that the upfront mortgage insurance premium of $4,644 is financed into the loan amount. The estimated monthly payment shown here does not include the FHA-required monthly mortgage insurance premium, taxes and insurance premiums, and the actual payment obligation will be greater.

VA estimated monthly payment and APR example: A $264,000 base loan amount with a 30-year term at an interest rate of 6.250% with no down payment, or borrower equity and no discount points purchased would result in an estimated monthly principle and interest payment of $1,663 over the full term of the loan with an annual percentage rate (APR) of 6.663%.

Estimated monthly payment and APR calculation are based on a down payment, or borrower equity of 0% and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable. Estimated monthly payment and APR assumes that the VA funding fee of $6,072 is financed into the loan amount. Estimated monthly payment does not include amounts for taxes and insurance premiums, and the actual payment obligation will be greater.

Jumbo estimated monthly payment and APR example: A $940,000 loan amount with a 30-year term at an interest rate of 5.625% with a down payment, or borrower equity of 25% and no discount points purchased would result in an estimated monthly principle and interest payment of $5,411 over the full term of the loan with an annual percentage rate (APR) of 5.784%.

Estimated monthly payment and APR calculation are based on a down payment, or borrower equity of 25% and borrower-paid finance charges of 0.862% of the base loan amount. If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment does not include amounts for taxes and insurance premiums and the actual payment obligation will be greater.

The rates shown above are the current rates for a single-family primary residence based on a 45-day lock period. These rates are not guaranteed and are subject to change. This is not a credit decision or a commitment to lend. Your final rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors.

To lock a rate, you must submit an application to U.S. Bank and receive confirmation from a mortgage loan officer that your rate is locked. Application can be made by starting it online or by meeting with a mortgage loan officer.

Minnesota properties: To guarantee a rate, you must receive written confirmation as required by Minnesota Statute 47.206. This statement of current loan terms and conditions is not an offer to enter into an interest rate or discount point agreement. Any such offer may be made only pursuant to subdivisions 3 and 4 of Minnesota Statutes Section 47.206.

Conforming fixed-rate loans:  The annual percentage rate (APR) calculation assumes a $464,000 fixed-term loan with a down payment, or borrower equity of 25% and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Conforming rates are for loan amounts not exceeding $806,500 ($1,209,750 in AK and HI).

Conforming ARM loans: Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment. The annual percentage rate (APR) calculation assumes a $464,000 loan with a 25% down payment, or borrower equity, and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment or borrower equity, is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Conforming rates are for loan amounts not exceeding $806,500 ($1,209,750 in AK and HI).

Non-conforming ARM loans: Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment. The annual percentage rate (APR) calculation assumes a $940,000 loan with a down payment, or borrower equity, of 25% and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment, or borrower equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Non-conforming rates are for loan amounts exceeding $806,500 ($1,209,750 in AK and HI).

Jumbo loans: The annual percentage rate (APR) calculation assumes a $940,000 fixed-term loan with a 25% down payment or borrower equity and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment, or borrower equity, is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Jumbo rates are for loan amounts exceeding $806,500 ($1,209,750 in Alaska and Hawaii).

FHA loans: The annual percentage rate (APR) calculation assumes a $270,019 fixed-term loan ($265,375 base amount plus $4,644 upfront mortgage insurance premium) with a 3.5% down payment, or borrower equity, monthly mortgage insurance premium of $176.30, and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable.

VA loans: The annual percentage rate (APR) calculation assumes a $270,072 fixed-term loan ($264,000 base amount plus $6,072 VA funding fee) with no down payment, or borrower equity and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable.

  • Facebook
  • Twitter
  • Instagram
  • Support
  • Site Map
  • Online tracking & advertising
  • Security
  • Careers
  • Privacy
  • Finacial education
  • Accessibility

U.S. Bank 800 Nicollet Mall

Minneapolis, MN 55402

© U.S. Bank

Leaving?

By selecting "Continue," you will leave U.S. Bank and enter a third party Web site. U.S. Bank is not responsible for the content of, or products and services provided by , nor does it guarantee the system availability or accuracy of information contained in the site. This Web site is not controlled by U.S. Bank. Please note that the third party site may have privacy and information security policies that differ from those of U.S. Bank.

Continue