Southern California Home Jumbo Mortgages
Low Rate Refinancing Loans from $729,750 to $3,000,000

Nationwide Mortgage Loans is a Southern California Mortgage Banker offering 90-100% jumbo home financing for refinance and purchase loans to homeowners from San Diego and Los Angeles. California residents can take advantage of this unique loan programs that is designed to ease the burden of high cost adjustable rate mortgages. California borrowers are blessed with great weather and a strong economy, but that has caused homes to become almost unaffordable. FHA mortgage loan limits have increased in Southern California to $729,750 and if that is not enough for your refinancing endeavors, consider our jumbo refinance loans. Our non-conforming lending division is excited about the fixed rate jumbos and the option arm that gives So-Cal borrowers even more purchase power because it keep your minimum mortgage payments low for the first five years with the negative amortization option. More conservative homeowners may want to select the fixed rate payment or the interest only option. The good news is that the choice is in the homeowner's hands to choose if they want a traditional mortgage loan or the exotic pick a payment loan offered with a 1.25% start rate.

Convert your adjustable rate loans to a fixed mortgage with reduced monthly payments.

• Jumbo Loans to 3 Million
• 100% Home Refinancing
• Fixed Rate Refinance
• Interest Only Payments
• 95% Cash Out with FHA
• California Home Loans

Southern California Refinancing Tips: FHA Increases Loan Limits to $729,750

With conventional mortgage loans having tightened lending guidelines so much, many Southern California homeowners have turned to FHA home mortgages for a refinancing solutions because FHA lenders offer competitive low interest rates and very little equity is required. So-Cal Homeowners can get cash out up to 95% when refinancing their mortgage. Our California mortgage lenders provide discounted refinance rates to qualified applicants who meet the FHA guidelines. The Housing of Urban Development raised the California mortgage maximum limits for 2008 and the loan changes can be seen below by county.

Local Rates and Credit Guideline Updates
Check for Home Equity Interest Rates for your region. - Second mortgage loans are still popular because they enable you to access cash using the equity in your home. Choose from interest only HELOC's to fixed rate equity loans. Lock the rate of your adjustable rate credit line and get a second mortgage refinance with a fixed payment each month.

The National Association of Realtors (NAR) says the decline in the sales rate has contributed to an increasing number of unsold existing homes, which totaled 3.92 million units in August. That's the largest supply since April 1993, according to the NAR.

The news isn't any better for new home sales. Reflecting increasing builder concerns about conditions in the market for new single-family homes, the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) declined for an eighth consecutive month to the lowest level it has reached since February of 1991. The HMI is based on a monthly survey of home builders that the National Association of Home Builders (NAHB) has been conducting for over 16 years.

"Although many builders are offering substantial incentives to bolster sales and limit cancellations, many potential buyers now are waiting on the sidelines to see how the market shakes out before proceeding with a home purchase," according to NAHB Chief Economist David Seiders.

Thirty-year fixed-rate mortgages (FRMs) fell to the lowest levels since early March, with the benchmark loan losing eleven basis points (0.11%) to close the nation's leading survey of mortgage prices at 6.39%. At 6.10%, five-one Hybrid ARMs (adjustable rate mortgages0 are becoming much viable options for purchase and refinances alike.

Declining interest rates coupled with San Diego home sales, Orange County home sales, Los Angeles home sales, Santa Barbara home sales and home sales in California being on the decline overall, now may be the time to buy. Increased California home buying opportunities pave the way to better Southern California home financing option. And financing a vacation home in California is far more palatable that it's been in years.

The only caveat is that the median price for homes in California is still above the 2006 conforming loan limits of $417,000. This means that a home buyer still has to get a jumbo home loan in order to buy a house. Loans that conform to the Fannie Mae or Freddie Mac lending limits and underwriting guidelines are "conforming loans". Anything else is a non-conforming or jumbo home loan.

Because of housing prices in California, the no money down home loan, also known as the 80-20 home mortgage has become a popular way for people who lack the cash reserves for a 20% down payment to buy a house and avoid paying the costly private mortgage insurance (PMI). 80-20 mortgage loans are available as conforming and jumbo mortgage loans, and they offer a variety of loan terms, including fixed interest rate, adjustable rate, interest only and even option ARM which increases purchase power, making home buying in California more affordable.

**Special Incentive for California Residents Refinancing their Home Online**
We are extending special home loan incentives for California homeowners. At this time, Nationwide is offering CA residents no points when they refinance their jumbo home mortgage using our company.* Take a minute and find out what refinance possibilities are available to you for refinancing your home. *Home loans must be greater than $500,000 to qualify for a "No Points" home refinance.