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Government Loans Are Becoming Cheaper for Southern Californians

Posted by Summit Lending on January 18, 2017
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A recent announcement made by the Department of Housing and Urban Development promises to reduce annual mortgage insurance premiums that homeowners in Southern Californian pay when seeking a government-insured loan. That translates to an estimated average of $500 that families making use of these loans can expect to save, according to the Federal Housing Administration.

Here in Southern California, that annual savings goes a long way, and what's more, lowering premiums on government home loans make mortgages far more affordable, especially for first-time homebuyers entering the competitive housing markets of Orange County, Los Angeles County, Riverside County, San Bernardino County, Ventura County and San Diego County. Just a week after the presidential inauguration, the lower premiums will go into effect and most pundits believe they'll stay in effect even after the administration handover, since the mortgage savings is likely to be a popular no-brainer for the nation's burgeoning housing market.

As 2017 takes off, it's more important than ever to explore your homeownership options. With quality incentive programs and affordability breaks like this recent one provided by the HUD and FHA, there are ample opportunities for Orange County and Southern California residents who seek to accomplish their homeownership goals. Putting our experience to use as a top-rated mortgage broker in Southern California, at Summit Lending, we'll help you make those goals a reality.

Based in Orange County, the experienced team at Summit Lending is here to answer any all questions you may have today regarding your home loan options. As a direct real estate mortgage lender, we're here to help homebuyers, as well as existing homeowners, secure affordable mortgage loans that work for you, based on your unique circumstances.

As top a Yelp! reviewed mortgage broker and direct mortgage lender in Southern California, Summit Lending provides low interest rate mortgage loans to buyers and homeowners all around the Orange County area, and in Riverside County, San Diego County, San Bernardino County, Ventura Count, and Los Angeles County. Our team at Summit Lending has all the expertise necessary to help you with your home financing needs, whether you're a first-time homebuyer or you've bought and sold multiple homes.

Based in Huntington Beach, CA, with offices throughout the Southern California region, Summit Lending can be reached online, on Facebook, or via phone at 888-451-9006. From conventional fixed rate loans to Jumbo loans, VA loans, FHA loans, reverse mortgages and cash out refinances, at Summit Lending we are eager to assist you in accomplishing your short and long term real estate financing goals.