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Using your 2011 VA Home Loan Benefit in San Diego, part 1 - Purchase a home

Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035

January 30, 2011 11:07 AM

Using your 2011 VA Home Loan Benefit in San Diego, part 1 - Purchase a home

The VA Home Loan benefit is a great opportunity for San Diego Veterans and Active Duty Military to purchase a home or condo. We thought it would be a good idea to quickly review the benefits of VA Loans, and a few ways to use them to your benefit.

VA Loans require zero downpayment up to $537,500 in San Diego and throughout San Diego County for 2011.

VA Loans - zero downpayment required up to $417,000
VA Jumbo Loans - zero downpayment required up to $537,500 (aka VA High Balance)
VA Jumbo Loans up to $1.5M (with downpayment/equity)

San Diego VA Loans are available up to $537,500 with zero downpayment required. The San Diego VA Loan Limit in 2011 is $537,500. However,Veterans are not limited to the San Diego County Loan limit of $537,500 for VA Loans. We offer VA Jumbo Loans up to $1.5 Million with the appropriate downpayment or equity to reach the VA Guarantee requirements of 25% of the loan amount. Here is one of our posts on how you can get a VanDyk Mortgage VA Loan over your county limit.

Here are a few ways to use your VA home loan Benefit in San Diego to purchase a home:

VA Loan to Purchase a single family home up to $417K with zero downpayment and no MI (mortgage insurance)
VA Jumbo Loan to Purchase a home up to $537,500 with zero downpayment and no MI
VA Loan to purchase a Condo in San Diego - up to $417K with zero downpayment or MI
VA Jumbo Loan to purchase a Condo in San Diego - up to $537,500 with zero downpayment and no MI required.
VA Jumbo Loan to purchase a $600,000 home in San Diego with just a $15,625 downpayment required (2.6%)
VA Jumbo loan to purchase a $750,000 home or condo with just $51,562 (6.87%) downpayment in San Diego
VA Jumbo loan to purchase a $1.1M San Diego home with just $139,165 (12.64%) downpayment and no MI (no mortgage insurance)

VA Jumbo Loan rates are currently at the lowest 30 year fixed rates on record (call for actual rates, they will shock you). VA Jumbo's are available up to $1.5M in San Diego with a suitable combination of Equity and guarantee. Check out some actual VA Jumbo Loan Purchase scenario's here.

VA Home Loan info for San Diego, California:

Active Duty Military and Veterans can both qualify
100% financing up to $537,500
Available up to $1.5M with suitable downpayment/Equity in home
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
VA Loans are not just for first time homebuyers
VA Jumbo Loans are offered at competitive rates that will surprise you, in a good way.
Sellers can pay up to 4% of the VA Buyers closing costs
VA Loans can be used to purchase VA Approved Condominiums with zero down

VanDyk is your source for VA backed Condo loans. We also do not have a waiting period for "flips". This is often called the Flip Rule or VA Flip Rule. VanDyk does not require the seller of a property to wait 90 days before allowing a VA buyer to purchase the property, only 1 day.

VanDyk Mortgage is a Proud VA Direct Lender. VanDyk Mortgage has been making FHA & VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar direct at 760-752-4480 for help with your VA or FHA loan.

Go with the Government Loan Pros, go with VanDyk. Visit us at www.vandykfunding.com or call Brian Skaar direct at 866-900-2342 for help with your VA loan. We serve the entire state of California plus Washington state, including: California,Southern California, Los Angeles, San Diego, San Jose, San Francisco, Santa Monica, Pasadena, Brea, Diamond, Long beach, Huntington beach, Irvine, Costa Mesa, Hollywood, North Hollywood, San Mateo, Ventura, Riverside, Oakland, Fremont, Sunnyvale, Santa maria, Oceanside, Vista, Escondido, Los Angeles, Murrieta, Temecula, Corona, Riverside, Rancho Bernardo, Poway, San Marcos, Carmel, Monterey, Santa Barbara, Santa Cruz, and all areas in between.