San Diego, California (PRWEB) June 19, 2014
Kevin Leonard a licensed mortgage originator in California picks up momentum with recent “jumbo mortgage rates San Diego” video. After the success of his jumbo home loans commercial on YouTube, the mortgage professional is submitting the video to other video sharing sites like DailyMotion and MetaCafe. The short descriptive video explains what makes a mortgage loan a “jumbo”. Since the mortgage crisis in 2007, the lending criteria to qualify for jumbo home loans has become more difficult. This is because there are fewer secondary buyers of these types of loans, making it less places for loan officers and brokers to locate a jumbo loan program that fits their client’s needs. The new regulation for all loans means traditional lending criteria and begin able to provide complete documentation requirements.
If an individual is interested about jumbo mortgage rates in San Diego, consult with a home loan specialist. By working with the home loan specialist, the borrower and the loan officer will be able to explore the various scenarios. Discussing the clients financial situation will determine if its sensible to save to have a bigger down payment before you purchase, attain 2 home loans, or to just take out jumbo home loan mortgage. Whichever decision that is selected; the borrower and the loan officer should make certain that the individual will be able to comfortably manage to pay for the loan(s) they receive. Knowing the entire expenses and terms of an assortment of home loan choices will allow the borrower to reach the smartest decision for their specific circumstances.
This loan limit varies by county across the U.S. Currently, in San Diego County the high balance conforming loan limit is $546,250. FHA home loans in San Diego County maintain a maximum limit of $546,250 for single family homes. This particular amount is actually an increase from a loan product which was created to aid first-time home buyers, low income buyers, and individuals with credit challenges, have the ability to purchase a house. The housing prices in San Diego are a bit higher than many counties across the country.
The cost of a FHA home loan in San Diego versus a conventional loan can be more expensive in upfront fees. The downside of FHA loans is the increasing cost of mortgage insurance premiums. In 2014 FHA borrowers will pay and upfront and an annual premium. The annual mortgage insurance premium will vary depending on a particular loans terms and (LTV) loan-to-value ratio. This increases the long-term cost of the loan for the borrower. Anyone seeking any type of loan whether conventional or a jumbo loan should consult with a licensed mortgage professional. To view the San Diego jumbo mortgage rates video click here, https://www.youtube.com/watch?v=OJ4r7ayRTCY
About: Kevin Leonard entered into the mortgage business in 1997 and quickly rose to become the top producing loan officer in the country and 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 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 some of the top real estate agents in San Diego for a reason, he offers fast pre-approvals jumbo home loans, and the ability to fund purchase loans quickly.