Martinez VA Loans and FHA Home Mortgage Loan info for 2014 - California VA Lender & FHA Lender
VanDyk Mortgage is your source for VA Loans and FHA Loans in Martinez. We have been making FHA, VA, Conforming, and Jumbo loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Martinez Homebuyers and Martinez 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
Martinez FHA Loans are available up to $625,500 with just 3.5% down payment. The FHA 2014 Loan Limit for Martinez is $625,500. Martinez FHA Loans that are over $417K up to $625,500 are called FHA Jumbo or FHA High Balance loans.
Martinez VA Loans are available up to $1,050,000 with zero downpayment. The Martinez VA Loan Limit for 2014 is $1,050,000. However, Veterans are not limited to the Contra Costa county Loan limit of $1,050,000 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 one of our posts on how you can get a VanDyk Mortgage VA Loan over your county limit.
Martinez Conforming Loans are available up to $625,500. The Martinez Conforming Jumbo Loans (aka Conforming High Balance, those over $417,000 and up to $625,500) require a minimum of 10% downpayment or equity.
Martinez Jumbo Loans are available up to $3m. These loans typically require a minimum of 20% down, good credit, and Asset reserves. Please call us direct for your Jumbo Loan Questions.
Martinez Home Loan information
FHA Home loans forMartinez, California:
- FHA Home Loans require just 3.5% downpayment
- FHA Jumbo Loans up to $625,500 for a Single Family Home or Condo (aka FHA High Balance)
- The $625,500 is the base loan amount - the Martinez FHA Loan Limit of $625,500 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 our 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.
VA Home Loans for Martinez, California:
- Active Duty Military and Veterans can both qualify
- 100% financing up to $1,050,000
- A $1,150,000 Martinez Home Purchase would only require $25,000 downpayment (2.17%) - 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
- VA Loans are available to purchase or refinance Condominiums. Here is more information on VA Condo Loans for Martinez
Conforming Home Loans forMartinez, California:
- Available up to $625,500 with the Conforming High Balance (aka conforming Jumbo)
- Martinez Conforming loans available up to $417,000
- Just 5% downpayment required up to $417k loan amounts
- Now available – NO Monthly PMI Loans up to $417K with 5% downpayment
- Conforming Jumbo Loans over $417K require a minimum of 10% downpayment or up to 90% LTV
- Allow for condominiums, Second Homes, and investment properties
- Call for details on Fico score requirements, downpayment requirements, etc
- HARP Loans are available with fewer restrictions to help underwater Homeowners refinance at today’s great rates. Most of the barriers for Homeowners to refinance their Fannie Mae and Freddie Mac Loans have been eased. If you have been turned down before for refinancing your loan that is owned by Fannie Mae or Freddie Mac, give us a call, we may be able to help. These are often called Obama Loans. HARP stands for Home Affordable Refinance Program. Visit our HARP Info page.
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.
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