Hermosa Beach VA Loans and FHA Home Mortgage Loan info for 2015 - California VA Lender & FHA Lender
VanDyk Mortgage is your source for VA Loans and FHA Loans in Hermosa Beach. We have been making FHA, VA, Conforming, and Jumbo loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Hermosa Beach Homebuyers and Hermosa Beach 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
Hermosa Beach FHA Loans are available up to $625,500 with just 3.5% down payment. The FHA 2015 Loan Limit for Hermosa Beach is $625,500. Hermosa Beach FHA Loans that are over $417K up to $625,500 are called FHA Jumbo or FHA High Balance loans.
Hermosa Beach VA Loans are available up to $625,500 with zero down payment. The Hermosa Beach VA Loan Limit for 2015 is $625,500. However, Veterans are not limited to the Los Angeles county Loan limit of $625,500 for VA Loans. We also offer VA Jumbo Loans up to $1.5 Million with the appropriate down-payment 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.
Hermosa Beach Conforming Loans are available up to $625,500. The Hermosa Beach Conforming Jumbo Loans (aka Conforming High Balance, those over $417,000 and up to $625,500) require a minimum of 10% down-payment or equity.
Hermosa Beach Home Loan information
FHA Home loans for Hermosa Beach, California:
- FHA Home Loans require just 3.5% down-payment
- FHA Jumbo Loans up to $625,500 (aka FHA High Balance)
- The $625,500 is the base loan amount - the Hermosa Beach 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 on FHA High balance or FHA Jumbo.
- You can receive a gift of funds for your Down-payment and closing costs from Family
- FHA Approved Condominiums eligible for FHA Purchase Loans and FHA Refinance Loans
- FHA Loans allow non-occupying co-borrowers such as parents and siblings.
VA Home Loans for Hermosa Beach, California:
- Active Duty Military and Veterans can both qualify
- 100% financing up to $625,500
- A $925k Hermosa Beach Home Purchase would only require $75,000 down-payment (8.09%) - 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 VA Approved Condominiums. Here is more information on VA Condo Loans for Hermosa Beach
- VA Jumbo Loans available for Condo Purchase and Refinance also!
- VA IRRRL Streamlines available for Non-owner and Investment homes
- We do not limit VA Jumbo IRRRL Streamlines to the Los Angeles County VA Loan Limit
Conforming Home Loans for Hermosa Beach, California:
- Now available – NO Monthly PMI Loans up to $417K with 5% down-payment
- Hermosa Beach Conforming loans available up to $417,000
- Just 3% down-payment required up to $417K
- the entire 5% down payment can be from gift funds.
- Conforming Jumbo Loans available up to $625,500 - AKA Conforming High Balance
- Conforming Jumbo Loans over $417K require a minimum of 10% down-payment or up to 90% LTV
- Allow for condominiums, Second Homes, and investment properties
- Call for details on Fico score requirements, down-payment requirements, etc
We offer Jumbo Conventional Loans up to $3m - call for details. 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.