San Diego Home Mortgage – President Obama’s New Changes to Help More People Refinance their San Diego Home Mortgage
ByThe “Making Home Affordable” plan has expanded to include your higher balance San Diego Mortgage Loan.
Many San Diego home owners are not able to get their mortgage refinanced even with President Obama’s “Making Home Affordable” plan going up to 105% LTV (loan to value). The 105% cap on the program is leaving many San Diego home owners unable to refinance out of their adjustable rate mortgages due to local home values dropping so drastically over the past few years. That is about to change because last month there was an announcement made that will be able to help many more home owners refinance their upside down mortgages. The new maximum loan to value limit will be 125% for refinancing your San Diego home mortgage. This increase will allow many more people to get a fixed rate instead of their unpredictable adjustable rate home mortgage. However, there are limitations that apply. Your current mortgage must be owned by Fannie Mae or Freddie Mac. To see if you qualify call me and I will see if your property qualifies or visit these two self service look up tools and know in just a few minutes.
To learn more about this program or any other San Diego home mortgage give us a call at (619)285-2921 or apply below.
Mortgage Pre-Approval Printable Full Application
