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USDA Rural Development Home Loans - 100% Financing Solution for Riverside County California

USDA Rural Development Loans - a 100% financing solution in 2011 for Riverside County Homebuyers

Riverside California Home Buyers still have access in many areas to a little known US Government Loan Program that offers 100% financing for the purchase of a Home in eligible areas.   USDA Eligible areas have been designated  as "Rural"  due to population density.  Strangely enough,  only non-farm residences can qualify.  The program is designed to help develop home buying options in less densely populated areas that may be underserved by mainstram home loans.   There are many areas in California that qualify for the USDA Rural Development Zero Down Payment Home Loan Program.  

With the USDA mortgage program, the borrower is not required to make a down payment nor are they required to Pay Mortgage Insurance Premium (aka MIP or PMI).

On a $250,000 home purchase, there are two areas that you save:  First, There is no downpayment requirement, so you will save $8,750 versus an FHA Loan, with the required FHA down payment of 3.5%.  Second,  Since there is no MIP, you will save $183/month in MIP (Mortgage Insurance Premium).   These two savings make this program a very attractive for first time homebuyers, as you can qualify for more home with the same payment and income.

There are three primary pre-requisites to qualify for the USDA Rural Development Home Loan in Riverside, California:

1.  Borrowers must qualify under the maximum household income cap

2. The home must be located in a USDA eligible region/address

3. All borrowers must have minimum 640 Credit Score

 

 Borrowers must not exceed the annual household income requirement     For example. a family of 1-4 must not exceed a household income greater than $76,600 annually in Riverside and San Bernardino Counties.   I recommend a quick 5 minute phone call to discuss your ‘total household income' under USDA guidelines.   Contact Brian Skaar  760-752-4480. 


2  Borrowers must purchase a home in a USDA-RD approved region/address.  You can search by map or address.    Below is a link where you can by-pass the map and type in the physical address to get instant verification - Verify a USDA eligible address.   I always recommend that my clients work with a Real estate agent  that understands the USDA Rural Development Program.   From helping you find and locate a USDA  RD eligible home, to understanding the funding and closing process, it is key  that your agent understand this program.  There are many cities in Riverside County that qualify as Rural for USDA Loans,  you might be surprised how un-rural some of these eligible cities are!

3  USDA Credit Score Guidelines. The USDA program is about as "flexible" as any loan program available today. In some cases, borrowers may even qualify with collections, or a recent bankruptcy.  Most lenders do require a 640 minimum score now, however these details change.  call for updates. 

We offer a Free No Obligation Mortgage Credit Analysis.   This will give you a game plan for establishing sufficient credit to qualify and detailing the home buying process.

To get started,  please give us a call at 866-900-2342 toll free direct, ask for Brian Skaar.   VanDyk Mortgage is a USDA Direct Lender and your source for all Government Home Loans.   We have been making Government Loans since 1987. www.vandykfunding.com.    

VanDyk Mortgage funds USDA, VA and FHA Loans Direct.   We offer USDA, FHA, FHA Jumbo, VA, VA Jumbo, Conventional Loans up to 95%, Conforming Jumbo, and True Jumbo Loans.  

 

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We proudly offer a full array of Government Conventional, and Jumbo loan Options including FHAVAUSDAFHA JumboVA Jumbo, VA Refinance, Conventional, JumboVA Condo loans,   FHA 2-4 Unit LoansVA 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 2018.  Learn More - Up to $679,650 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!

 

--> Answers to Common VA Loan Questions - VA FAQ Series

We serve the entire state of California  including: Anaheim,  Antioch,  Bakersfield, Brentwood, Burbank,  Carlsbad,   Chula VistaCorona,  Coronado, Downtown San Diego, EncinitasEscondido, Fallbrook,  Fremont,  FresnoHermosa Beach, Huntington BeachIrvineLong BeachLos Angeles, Marina Del Rey,   Menifee, Monterey, MurrietaOakland, Oakley,  Oceanside,  Ontario,  Pasadena ,  Poway,   Rancho Cucamonga,  Redlands,   Riverside,   Sacramento,        San BernardinoSan DiegoSan FranciscoSan JoseSan MarcosSan MateoSanta Ana,  Santa Clarita,   Santa MonicaTemecula, 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. 

 

We also serve Alabama, Colorado, Georgia, Illinois, Indiana,  Massachusetts, Michigan, Mississippi,  Indiana, Tennessee, Texas, and Wyoming Homebuyers and Homeowners.  

 

VA Loan Limits 2018     FHA Loan Limits 2018     Conforming Loan Limits 2018

All information is subject to change without notice.

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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

copyright 2018 VanDyk Mortgage Corp

 

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. 

 

       


 

Comment balloon 0 commentsBrian Skaar • March 23 2011 10:41PM

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