California VA Loan Limits by County for 2013

California VA Loan Limits by County for 2013

The Veterans Administration has announced the VA Loan Limits for California for 2013.   The formula for generating the VA Loan Limits was altered by Congress in 2008, and was reinstated beginning August 6, 2012.

The VA Jumbo Loan allows Veterans and Active Duty Military Personnel to purchase homes in higher cost areas of California and Washington at loan amounts more in sync with local housing prices.    Qualified Vet’s can purchase up to $987,500 with zero money down.

Some examples of the new VA Loan Limits in California are: Qualified Veterans in Los Angeles, Orange County, Ventura, Brea, Pasadena, Irvine, Costa Mesa, Huntington Beach, and Long Beach may qualify for a 100% VA Jumbo loan up to $668,750.  San Diego County cities including San Diego, Oceanside, Chula Vista, El Cajon, Encinitas, Carlsbad, San Marcos, Escondido, Rancho Bernardo, la Mesa and National City a Vet can borrow up to $500,000 with no money down when buying a house.   San Jose vets can go up to $823,750 with no money down VA Purchase Loan.   SF Bay Area Vets buying a home in San Francisco, Alameda, Oakland, Fremont, Contra Costa, Marin, San Mateo, Daly City, etc can qualify up to $987,500 for a 100% VA Loan as well.    We also offer VA Loans that exceed these limits with the appropriate amount of Down payment on purchases, or equity on Refinances.

VanDyk Mortgage is a proud VA Lender serving many states including California, Washington, and more.

>>> I want to get started on my VA Loan Approval now >>>

We have compiled the California VA Loan limits for 2013 by county below.

State County 2013 VA Loan Limit

CA ALAMEDA $987,500

CA ALPINE $417,000

CA AMADOR $417,000

CA BUTTE $417,000

CA CALAVERAS $417,000

CA COLUSA $417,000

CA CONTRA COSTA $987,500

CA DEL NORTE $417,000

CA EL DORADO $417,000

CA FRESNO $417,000

CA GLENN $417,000

CA HUMBOLDT $417,000

CA IMPERIAL $417,000

CA INYO $417,000

CA KERN $417,000

CA KINGS $417,000

CA LAKE $417,000

CA LASSEN $417,000

CA LOS ANGELES $668,750

CA MADERA $417,000

CA MARIN $987,500

CA MARIPOSA $417,000

CA MENDOCINO $417,000

CA MERCED $417,000

CA MODOC $417,000

CA MONO $437,500

CA MONTEREY $425,000

CA NAPA $521,250

CA NEVADA $417,000

CA ORANGE $668,750

CA PLACER $417,000

CA PLUMAS $417,000

CA RIVERSIDE $417,000

CA SACRAMENTO $417,000

CA SAN BENITO $823,750

CA SAN BERNARDINO $417,000

CA SAN DIEGO $500,000

CA SAN FRANCISCO $987,500

CA SAN JOAQUIN $417,000

CA SAN LUIS OBISPO $481,250

CA SAN MATEO $987,500

CA SANTA BARBARA $593,750

CA SANTA CLARA $823,750

CA SANTA CRUZ $668,750

CA SHASTA $417,000

CA SIERRA $417,000

CA SISKIYOU $417,000

CA SOLANO $417,000

CA SONOMA $448,750

CA STANISLAUS $417,000

CA SUTTER $417,000

CA TEHAMA $417,000

CA TRINITY $417,000

CA TULARE $417,000

CA TUOLUMNE $417,000

CA VENTURA $546,250

CA YOLO $417,000

CA YUBA $417,000

Many Vets would like to purchase or refinance a home that exceeds their Countie’s VA Loan Limit.  If you need a VA loan for a higher amount than your county loan limit, please call us.   We do offer VA loans over the county loan limits for Purchase, Refinance, and VA IRRRL Streamline Refinance (aka VA Streamline). Call Brian Skaar at 760-752-4480 to get started.

 

VanDyk Mortgage also offers FHA, VA, & Conventional loans in addition to FHA Jumbo, VA Jumbo, and Conforming Jumbo loans (aka FHA High Balance, VA High Balance, and Conforming High Balance).

>>> I want to get started on my Loan Approval now >>>

Now serving Virginia Home Buyers, Home Owners and Real Estate Agents

Now serving Virginia Home Buyers, Home Owners and Real Estate Agents

We now service the great state of Virginia for Home Purchase, Refinance and also to help Real Estate Agents grow their business.

VanDyk Mortgage is a Direct Lender (since 1987) offering VA, VA Jumbo, FHA, FHA Jumbo, Conventional, Conventional Jumbo, True Jumbo and USDA financing for the Purchase, Refinance or Streamline Refinance (VA IRRRL) of your home.     VanDyk has FHA Full Eagle Direct Endorsement status with HUD and strong experience with Government backed home loans such as FHA, VA, and USDA RD Loans.   We also have a full selection of Conventional loans such as Conforming Loans with as little as 3% down payment required (up to $417K),  and Jumbo Loans

Stay tuned for more details on how our loan options can help Virginia residents buy or refinance VA Homes.

Increased California VA Loan Limits for remainder of 2012

Increased California VA Loan Limits for remainder of 2012

The VA Has increased the VA Loan limits for much of California for the remainder of 2012.

The VA has announced increased 2012 VA Loan Limits that will be effective from August 3, 2012 – Dec 31, 2012.    New increased VA Loan Limits for 2012 are capped at $1M.

Loan Limits in California counties such as Alameda, Contra Costa, Marin,  San Francisco, & San Mateo, are now at $!m.  Santa Clara and San Benito Counties are now at $831,250.  Los Angeles and Orange Counties are now at $675,000. Santa Cruz at $663,750,  Santa Barnara county is at $650,000, and San Diego has a $518,750 VA Loan limit for remainder of 2012.

Several Washington State counties allow now have higher VA Loan limits for 2012 including King, Pierce and Snohomish counties at $498,750 and San Juan county at $470,000.

Please see the entire list of CA and WA VA Loan Limits below,  any counties not listed have a $417K VA Loan Limit for the remainder of 2012.
VA Loans are available for higher loan amounts than the County VA Loan Limit.   The County VA Loan Limit is the full amount for 100% VA Financing.   We allow you to exceed the county limits as long as there is sufficient equity or down payment to reach the VA Guarantee requirements.   More info on Exceeding the VA Loan Limit can be found here.

STATE

COUNTY

2012 VA LIMIT

CA

ALAMEDA

$1,000,000

CA

CONTRA COSTA

$1,000,000

CA

LOS ANGELES

$675,000

CA

MARIN

$1,000,000

CA

NAPA

$500,000

CA

ORANGE

$675,000

CA

SAN BENITO

$831,250

CA

SAN DIEGO

$518,750

CA

SAN FRANCISCO

$1,000,000

CA

SAN LUIS OBISPO

$497,500

CA

SAN MATEO

$1,000,000

CA

SANTA BARBARA

$650,000

CA

SANTA CLARA

$831,250

CA

SANTA CRUZ

$663,750

CA

SONOMA

$456,250

CA

VENTURA

$563,750

WA

KING

$498,750

WA

PIERCE

$498,750

WA

SAN JUAN

$470,000

WA

SNOHOMISH

$498,750

 

 

Please contact the VA Loan Pro’s at VanDyk Mortgage for help with your next VA Loan – Purchase, Refinance, or VA Streamline.   We are proud to help our Veterans

Relocating – Tips for a Smooth Home Purchase

Relocating – Tips for a Smooth Home Purchase

When relocating to a new town from out of state, or out of town, it is important to plan your new Home Purchase ahead of time.  We have a few tips to help make the process easier on the Home Loan Process.    The first step is the determine what type of Home Loan is best for your new Home Purchase.    We suggest contacting us prior to your move, so we can discuss Loan Options such as VA, FHA, Conventional Loans with low downpayment,  USDA, etc.   We will help you find the best fit for your individual situation and you get Pre-approved.   The next step is to collect all of your paperwork for yiour new loan.   We will review it thoroughly and prepare your Loan Pre-Approval.

Tip ~ We suggest that you place your paperwork in a special area,  separate from the packing boxes related to the move.   If you access or store your documentation on your computer, keep that separate from the Moving truck as well.    This way you will know where to find the paperwork when it’s needed.   

We can help you with a variety of Home Loan options – VA,  FHA, Conventional, Conventional loans with as little as 3% down, USDA (in eligible areas), and Jumbo Loans.  We will help you determine how the disposition of your current home effects your purchase options.   For instance, it is OK to have more than one FHA Loan in qualified circumstances.    You may be able to use the Rent Income on your current home to help qualify for the new home as well.  We can help you sort through the options.

We are proud to help families plan their Relocations and assist in any way possible.   From providing strong Loan options to helping find a qualified Relocation Realtor,   We are here to help.

 

Washington FHA Streamline Refinances now available with Lower MIP

Washington FHA Streamline Refinances now available with Lower MIP 

2015 Update – FHA has reduced their MIP rates to .85% and .80% for all FHA loans.   If your current MIP is at a rate higher than these levels, you might be able to save money by Streamlining your FHA loan.   Call us for a free quote.

Vastly improved Options for Washington FHA Streamline Refinances are coming.   The Whitehouse announced today that HUD has authorized changes to the FHA Streamline Refinance Program that will help many Washington Homeowners with FHA Loans made prior to June 1, 2009 save hundreds per month.

The options for FHA Streamlines and FHA Jumbo Streamline Refinances in Washington have been prohibitive the past couple years due to increased FHA Mortgage Insurance rates.   The new program will reduce the Upfront Mortgage Insurance Premium (UFMIP) to .01% according the news release by the Obama Administration at the Whitehouse today.   But the good part is that the annual Mortgage Insurance Premium is being reduced to .55% for FHA Streamlines and FHA Jumbo Streamlines from a previous level of 1.15%.

>>> I want to get started on my Loan Approval now >>>

These changes to FHA Streamline and FHA Jumbo Streamline rules will open the door for Washington Homeowners with FHA Loans to save hundreds per month in most cases.

VanDyk Mortgage is a Full Eagle Direct Endorsement FHA Lender,  the highest level of approval from HUD.   We have been making FHA Loans since 1987, and would be proud to help you as well.

We service all of California and Washington State, including San Diego, Los Angeles, San Jose, Sacramento, Riverside, San Francisco, Oakland, Ventura, Orange County, Seattle, Spokane, Tacoma, Everett, and every other city within these great states.

Call today to get started  866-900-2342  – Toll Free direct.   Or apply online 24/7 –www.vandykfunding.com/loanapplication

California FHA Streamline Refinances now available with Lower MIP

California FHA Streamline Refinances now available with Lower MIP 

Vastly improved Options for California FHA Streamline Refinances are coming.   The Whitehouse announced today that HUD has authorized changes to the FHA Streamline Refinance Program that will help many California Homeowners with FHA Loans made prior to June 1, 2009 save hundreds per month.

The options for FHA Streamlines and FHA Jumbo Streamline Refinances in California  have been prohibitive the past couple years due to increased FHA Mortgage Insurance rates.   The new program will reduce the Upfront Mortgage Insurance Premium (UFMIP) to .01% according the news release by the Obama Administration at the Whitehouse today.   But the good part is that the annual Mortgage Insurance Premium is being reduced to .55% for FHA Streamlines and FHA Jumbo Streamlines from a previous level of 1.15%.

These changes to FHA Streamline and FHA Jumbo Streamline rules will open the door for Homeowners with FHA Loans to save hundreds per month in most cases.

>>> I want to get started on my Loan Approval now >>>

VanDyk Mortgage is a Full Eagle Direct Endorsement FHA Lender,  the highest level of approval from HUD.   We have been making FHA Loans since 1987, and would be proud to help you as well.

We service all of California and Washington State, including San Diego, Los Angeles, San Jose, Sacramento, Riverside, San Francisco, Oakland, Ventura, Orange County, Seattle, Spokane, Tacoma, Everett, and every other city within these great states.

Call today to get started  866-900-2342  – Toll Free direct.   Or apply online 24/7 –www.vandykfunding.com/loanapplication

FHA -VA-USDA-FHA Jumbo – VA Jumbo Home Loans

GovernmentLoanPros.com Your Source for VA, FHA & USDA Loans.

For many American Families our number one dream is owning your own home.   We are here to help you fulfill your dream of home ownership.  Whether you want to purchase your first home, a larger home, or Refinance your current mortgage,  we are here to help.

We offer FHA, VA, USDA, Conventional, Jumbo, Fannie Mae and Freddie Mac home loans – we have many options to help you get the keys to your very own home.   VanDyk Mortgage is a Direct Lender offering VA Loans, FHA Loans, and USDA Loans direct to you.  VanDyk Mortgage is approved by HUD with Full Eagle status. We have been helping families with Home Loans since 1987.

The first step in the Home Purchase process is to get in touch with one of our Government Home Loan Professionals.   It will give you the confidence of a cash buyer.   We will help you determine what you can comfortably afford.   In a short time, you will be on your way to making your first offer on the home of your dreams.

Our Government Loan Pro’s will work with you direct to qualify your for the mortgage loan that best meets your needs.   We like to offer a more personalized approach with our clients.   Our goal is to create a smooth, stress-free loan process for you.    Our Team members will help you determine the right loan program,  how much you can afford, help you get you Approved, and keep in contact throughout the process.

If you currently own a home and would like to explore a refinance to reduce your interest rate, or get cash out,  you’re at the right place.   There are many loan programs, we will help you find the right one.  You can reduce your interest rate, pay down your loan balance quicker, consolidate debts, or get cash to use toward a dream vacation, home improvement, college tuition — virtually anything you need it for.

Veterans – Own your own home!  We can help.   Call the Government Loan Pros at VanDyk Mortgage.

We serve California, Georgia, Indiana, Massachusetts, Michigan, Virginia, Washington, and Wyoming.

Contact us today for help with any questions you may have or to get started.    866-900-2342  Toll Free Direct

>>> I want to get started on my Loan Approval now >>>

How do I find out if this Los Angeles Condo is eligible for VA Financing?

How do I find out if this Los Angeles Condo is eligible for VA Financing?

We hear this question quite often. The answer isn’t always easy to find for Veteran Homebuyers in Los Angeles, CA.  Real Estate Agents, Sellers, and sometimes even the HOA don’t have the most updated info on their VA Condo Approval Status.

Why is this?   Shouldn’t it be easy to figure out if the Condo is VA Approved?   I agree 100%.  However, the VA Condo Search Portal doesn’t index by the common names you would normally use for a Los Angeles VA Condo.  The VA uses an assortment of names:  HOA Name, Tract number, Map Number, or another abbreviation, loosely based on the above.

So the next question for Los Angeles VA Homebuyers looking for Condo’s is – How do I find out if this Los Angeles Condo is VA Approved?   Just give us a call or email us the Condo’s information – Address, HOA name, etc.   We will research it for you and let you (and the Agents and Seller) know if your Condo is VA Approved.

A word of Caution:   When buying a Los Angeles Condo with a VA Loan, be sure to work with a VA Lender that is well versed in VA Condo Financing.   There are multiple types of VA Condo Approvals.  It is best to know upfront what your VA Purchase of a Condo will require (based on the type of VA Approval).

Also – Don’t give up on that Condo just because someone told you it isn’t VA Approved!   I have seen many Condo’s in Los Angeles that are in fact eligible for VA Financing, however the Listing Agent, Buyers Agent, HOA, Seller, or even another Lender thought it wasn’t VA Approved.   This is usually the result of a limited knowledge of the VA Condo Approval Process and/or poor research on the Condo itself.    We just saved 2 escrows by helping Vet’s buy Condo’s that others told them were ineligible for VA Loans.

>>> I want to get started on my VA Loan Approval now >>>

Many Condo’s can be purchased with both VA Loans and VA Jumbo Loans.  The key is to select an experienced VA Condo Lender and Real Estate Agent that is well versed in writing and negotiating VA Purchase Offers.

When looking for a VA Loan to purchase a Condo in Los Angeles, call the VA Loan Pro’s at VanDyk Mortgage.  760-752-4480 Direct, please ask for Brian Skaar.