California VA Loans and FHA Home Mortgage Loans - VanDyk Mortgage - California VA Lender & FHA Lender. VanDyk Mortgage is your source for VA Loans and FHA Loans in California. We have been making FHA, VA, Conforming, and Jumbo loans since 1987.   VanDyk Mortgage is a Direct Lender. We offer many loan programs for California Homebuyers and California Homeowners to Purchase and refinance homes.

• FHA & FHA Jumbo (aka High Balance)
• VA & VA Jumbo (aka High Balance)
• Conforming & Conforming Jumbo (aka High Balance or Super Conforming)
• Jumbo Loans to $3m

California FHA Loans are available up to $729,750 with just 3.5% down payment in high cost counties. The FHA 2012 Loan Limit for California is up to $729,750.  California FHA Loans that are over $417K up to $729,750 are called FHA Jumbo or FHA High Balance loans.  Check your counties California 2012  FHA Loan limits here.

California VA Loans are available up to $1m with zero downpayment in many parts of the bay area, and up to $675,000 in Los Angeles and Orange Counties.  The California VA Loan Limit in 2012 is up to $1m.   However, Veterans are not limited to their specific county VA loan limit in California for VA Loans.  We also offer VA Jumbo Loans up to $1.5 Million with the appropriate downpayment or equity to reach the VA Guarantee requirements of 25%. Here is an article on how you can get a VanDyk Mortgage VA Loan over your county limit.

California Conforming Loans are available up to $625,500. The California Conforming Jumbo Loans (aka Conforming High Balance, those over $417,000 and up to $625,500) require a minimum of 10% downpayment or equity.

California Home Loan information

FHA Home loans in California:

• FHA Home Loans require just 3.5% downpayment
• FHA Jumbo Loans up to $729.750 (aka FHA High Balance)
• The $729,750 is the base loan amount - the California FHA Loan Limit of $729,750 does not have to include the UFMIP (FHA's Upfront Mortgage Insurance Premium, which is usually financed into your loan amount)
• The Seller can pay up to 6% of your closing and settlement costs.
• Minimum score for most FHA Home Loans is just 620, even on FHA High balance or FHA Jumbo.
• You can receive a gift of funds for your Downpayment and closing costs from Family
• FHA Condominium requirements include at least a 51% owner occupancy ratio, no outstanding lawsuits against the Homeowners Association - call for details.
• FHA Loans allow non-occupying co-borrowers such as parents and siblings.
• We offer FHA 203K Rehab and FHA 203K Streamline Rehab loans

VA Home Loans in California:

• Active Duty Military and Veterans can both qualify
• 100% financing up to $675,000 in LA and Orange county, up to $1m in most of the Bay
• A $875k  Los Angeles, California Home Purchase would only require $50,000 downpayment (5.71%) - not including the VA Funding Fee
• VA Loans require no Mortgage Insurance
• VA Loans do require a VAFF (VA Funding Fee), which is usually financed
• Veterans with a 10% or higher VA disability pay no VA Funding fee
• Sellers can pay up to 4% of the VA Buyers closing costs

Conforming Home Loans in California:

• Available up to $625,500 with the Conforming High Balance (aka conforming Jumbo)
• Conforming Jumbo loans require a minimum of 10% downpayment or up to 90% LTV
• California Conforming loans available up to $417,000
• Conforming loans up to $417K require just 3% downpayment - up to 97% LTV
• Allow for condominiums, Second Homes, and investment properties
• Call for details on Fico score requirements, downpayment requirements, etc

We offer Jumbo Conventional Loans up to $3m - call for details.** please visit our post on Conforming vs Conventional to help explain the difference between these two terms, they are often misused in the media and web.

VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. We are also a VA Lender and VA Jumbo Lender.