FHA Loans guaranteed by HUD are fast becoming the loan of choice again for first time homebuyers and also those buyers who do not want to put 5, 10 or 20% down payment on their new home (there is good reason to keep your assets in other areas, that will be another post, or call me to find out why). The FHA loan requires just 3% down payment. Sellers can contribute to down payment and closing costs as well, it just requires the use of one of our Down Payment Assistance programs to administer the transfer of funds. (HUD requirement). So an FHA Loan can be a 100% loan in that regard.
With Fannie & Freddie declaring many metro areas "Declining Markets" it is now harder to qualify (if at all) for low down payment loans from Fannie & Freddie in many markets. For instance, if you live in Riverside California, a widely recognized trouble spot for foreclosure activity, your maximum loan to value (LTV) with Fannie & Freddie is now 95%. But wait, there's more. Fannie & Freddie also limit the fico's that qualify for 95%, and add to the price.
That makes it difficult and expensive to go with a Fannie or Freddie low down payment loan.
So what? FHA is what. FHA doesn't ding you for a declining market, they still go to 97%.
FHA also doesn't have the FICO minimums that Fannie & Freddie do. It is not only easier to qualify, but more cost effective.
Work with the FHA loan pros, call Brian Skaar and VanDyk Mortgage to handle your FHA loan.
Brian Skaar 866-900-2342 http://www.vandykfunding.com/
Check out our FHA blog at fhasecure.blogspot.com
Some of the areas that we can help with FHA loans include: Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, Huntington Beach, Irvine, Costa Mesa, Orange, Santa Ana, Westminster, Gardena, Long Beach, Carson, Canoga Park, Pasadena, Glendale, Santa Clarita, Santa Clara, Baldwin Park, Murrieta, Temecula, Sun City, Elsinore, Perris, Hemet, Moreno Valley, Ventura, Oxnard, Santa Barbara, San Luis Obispo, Stockton, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County.
We proudly offer a full array of Government, Conventional, and Jumbo loan Options including FHA, VA, USDA, FHA Jumbo, VA Jumbo, VA Refinance, Conventional, Jumbo, VA Condo loans, FHA 2-4 Unit Loans, VA 2-4 Unit Loans, FHA 203K Rehab Loans, 5% down Conventional loans, Conventional Condo's OK to 95%, 95% conventional purchase with ZERO Monthly PMI, and more.
Veterans: We are able to help Veterans with a new home purchase with a VA Loan or VA Jumbo Loan as soon as 2 years after Bankruptcy, Foreclosure, or Short Sale (even sooner if Short Sale involved no late payments). Call Today - get back into homeownership!
--> VA Loan Limits for 2016. Learn More - Up to $625,500 with zero money down VA Jumbo Loan
--> VA Loans over the County VA Loan Limit - yes, we allow this: Read more detail on how to get a VA Loan Over your County VA Loan Limit here VA Loans up to $1.5M!
We serve the entire state of California including: Anaheim, Antioch, Bakersfield, Brentwood, Burbank, Carlsbad, Chula Vista, Corona, Coronado, Downtown San Diego, Encinitas, Escondido, Fallbrook, Fremont, Fresno, Hermosa Beach, Huntington Beach, Irvine, Long Beach, Los Angeles, Marina Del Rey, Menifee, Monterey, Murrieta, Oakland, Oakley, Oceanside, Ontario, Pasadena , Poway, Rancho Cucamonga, Redlands, Riverside, Sacramento, San Bernardino, San Diego, San Francisco, San Jose, San Marcos, San Mateo, Santa Ana, Santa Clarita, Santa Monica, Temecula, Torrance, Ventura, Vista, and all other CA Cities and areas.
We now serve the entire state of Virginia including Virginia Beach, Norfolk, Chesapeake, Richmond, Newport News, Alexandria, Hampton, Roanoke, Portsmouth, Suffolk, and all other Virginia Cities, Towns and Counties.
We also serve the entire state of Washington including: Auburn, Bellevue, Bellingham, Bonney Lake, Bothell, Bremerton, Des Moines, Edmonds, Everett, Federal Way, Ferndale, Issaquah, Kent, Kirkland, Lacey, Lake Stevens, Lynnwood, Mercer Island, Mill Creek, Monroe, Montlake Terrace, Mt Vernon, Mukilteo, Olympia, Puyallup, Redmond, Renton, Seatac, Seattle, Silver Lake, Snohomish, Spokane, Sumner, Tacoma, Tumwater, Vancouver, Wenatchee, Woodinville, Yakima and all other WA cities and towns.
All information is subject to change without notice.
Residentional Mortgage Lender registered by the VA Department of Business Oversight
Georgia Residential Mortgage Licensee #39449
VanDyk Mortgage is a private company specializing in FHA & VA financing, VanDyk Mortgage Corp is not a government agency. Corp 2449 Camelot Ct SE, Grand Rapids, MI 49546
Branch address 310 Via Vera Cruz, ste 210 & 211, San Marcos, CA 92078 760-752-4480 direct
NMLS ID: 3035 - VanDyk Mortgage Corp NMLS ID 220268
Brian Skaar - Loan Originator / Branch Manager
NY Disclosure: Website authorization has not been approved by teh New York State Department of Financial Services. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site.