Lower your monthly payments by refinancing your FHA loan and start saving money immediately
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Los Angeles, California (PRWEB) February 02, 2015
The 2015 FHA's calculation for max loan limits in the high cost metropolitan areas in the US will remain the same as the 2014 amount of $625,500. The current standard FHA loan limit for locations where housing costs are relatively low will also remain the same at $271,050. California mortgage consultant Kevin Leonard has build a new page for his blog that explains in detail the different FHA insured loans, and the 2015 FHA loan limits for California broken down by city. The chart shows the loan limits for all FHA home loans including the Home Equity Conversion Mortgage (HECM). The mortgage loan limits for FHA-insured reverse mortgages will also remain unchanged. The Federal Housing Administration reverse-mortgage product, better known as the (HECM), will continue to have a $625,500 maximum claim, with the actual loan limits based on property value, borrower age, and of course, current mortgage interest rates. To view the loan limits FHA 2015 California page, or to learn more about current FHA loan rates California visit, http://www.kevinleonardmortgageexpert.com/ca-fha-loan-limits-2015/
Because of the recent news that refinancing most FHA loans will reduce the annual premium from 1.35 percent of the loan balance to .85 percent. Also with record low interest rates, many of those with FHA home loans can potentially save hundreds of dollars a month. Mr. Leonard and his team have been very busy with posting new news regarding mortgage rates and programs that can benefit homeowners. Last week the had just completed a page explaining the VA IRRRL also known as the VA Interest Rate Reduction Refinance Loan, and how this home loan is also saving Veterans money every month by lowering their current interest rates. Both the VA IRRRL and the FHA Streamline refinance loans can be accomplished in a few short weeks due to the minimal document requirements. To learn more about either of these Government insured and/or guaranteed loans and the benefits they provide call the office and speak with a home loan expert at 877-889-7474.
Kevin Leonard began in the mortgage business in 1997 and since then he has become one of the leading mortgage experts in the country, and has earned national acclaim for his efforts. Mr. Leonard prides himself in offering constant communication with his clients so that they have a full understanding of the loan process from start to finish. He is personally responsible for thousands of fundings, and along with his team, he has over 5 billion in residential loans funded to his credit. Mr. Leonard has a full understating of the loan process from start to finish, and also consults with a long list of mortgage bankers in the secondary market. There are few, if any, that have the experience that Kevin Leonard has in the mortgage profession. He was one of the first to register with NMLS in 2008 when it was first instituted, and currently is licensed in the state of California as a loan originator. He is partnered with the best real estate agents in California for a good reason—he offers fast pre-approvals with the ability to fund purchase loans quickly. To learn more about the FHA 2015 loan limits in California click on the highlighted link.
Phone: (951) 200-5750