Riverside Conventional Loans with 3% down payment - Yes, 3 percent down - 97% conventional financing options for Riverside Home Buyers
VanDyk Mortgage offers Conventional Purchase and Refinance loans up to $417,000 with just a 3% down payment for Riverside and Riverside County Homes. Here are some basic details:
Riverside and Riverside County Cities are now eligible for our Conventional Loans up to 97% Loan to Value - Only 3% down payment is required. We do not consider Riverside a declining market, so we are able to offer these enhanced 97%/ 3% down financing options for Conventional loans.
Minimum credit score = 720
Maximum Debt Ratio = 41%
Condo's OK to 95%! Info on our 95% conventional loan. The 5% down option allows for lower fico score (to 660) and higher Debt Ratios (up to 45%).
Loan amounts up to $417,000 (that would be a purchase price up to $429,900 with 3% down).
If you don't have a 720 middle score, or have a slightly higher debt ratio, we can alao help with our FHA Loans. If your purchase price is higher than $429K, FHA Jumbo may be able to help as well.
Give us a call to get started - 760-752-4480. Ask for Brian Skaar.
We offer both Monthly Mortgage Insurance and One Time Mortgage Insurance (call us for the comparison - you will be surprised at the numbers)
We service the following cities in Riverside: Banning, Beaumont, Blythe,Calimesa, Canyon Lake, Cathedral City, Coachella, Corona, Desert Hot Springs, Hemet, Indian Wells, Indio, Lake Elsinore, La Quinta, Menifee, Moreno Valley, Murrieta, Norco, Palm Desert, Palm Springs, Perris, Rancho Mirage, Riverside, San Jacinto, Temecula, Wildomar. We also service all unincorporated areas in the county as well.
Licensing Disclosures Privacy Policy Product Disclaimers/Disclosures
California Residential Mortgage Lender registered by the Department of Corporations
VanDyk Mortgage is a private company specializing in FHA & VA financing, VanDyk Mortgage Corp is not a government agency. 799 Avenida Codorniz, San Marcos, CA 92069 760-752-4480
NMLS ID: 3035 - VanDyk Mortgage Corp NMLS ID 220268 Brian Skaar - Loan Originator
MIP, UFMIP, VAFF, PMI, LPMI What are all of these?
Quick and easy reference guide:
MIP = Mortgage Insurance Premium - this acronym is used for FHA's annual mortgage insurance premium, which is paid on a monthly basis as part of your Mortgage Payment.
UFMIP = Upfront Mortgage Insurance Premium - in addition to the annual MIP, FHA charges a one time UFMIP when your loan in originated. This helps to keep the monthly costs affordable by splitting the cost into two parts.
VAFF = VA Funding Fee. The VA doesn't require Mortgage Insurance, but it does fund the VA guarantee with their VAFF or VA Funding Fee. This ranges from .50% on a VA Irrrl Streamline refi to 3.3% on a subsequent use for purchase or refinance. Note- if you have a 10% VA Disability Rating you may be eligible to waive the VAFF.
PMI = Private Mortgage Insurance - This is mortgage insurance for Conventional loans such as Fannie Mae and Freddie Mac loans. This can be Monthly or one-time paid up front.
LPMI = Lender Paid Mortgage Insurance - This is where the lender pays your Mortgage Insurance as part of the rate, usually with a slightly higher rate. Definitely worth considering, call for a quote, this changes with the market very fast.
Please give us a call if we can answer your questions regarding the various types of Mortgage Insurance and Mortgage Guarantees available.
Licensing Disclosures Privacy Policy Product Disclaimers/Disclosures
California Residential Mortgage Lender registered by the Department of Corporations
VanDyk Mortgage is a private company specializing in FHA & VA financing, VanDyk Mortgage Corp is not a government agency. 799 Avenida Codorniz, San Marcos, CA 92069 760-752-4480
NMLS ID: 3035 - VanDyk Mortgage Corp NMLS ID 220268 Brian Skaar - Loan Originator
California Mortgage Outlook for Sept 20, 2010
Our California Mortgage Outlook for this week remains strong (ie low rates continue). The past 3 Friday, the mortgage bond market has been a little erratic, only to correct on Monday following the weekend (or Tuesday after the holiday weekend). Holiday weekends always create a little action up or down in the markets, but the last two weeks action on Fridays leads me to believe that rates are ready to rise anytime. This will undoubtedly come without warning.
If you want to save money on your current loan, or purchase a home, there has never been a better time to purchase or refinance in California.
It is also important to consider Streamline Refinancing your FHA Loan now, as rates have never been lower and MIP changes are coming in early October which will make a FHA Streamline Refinance a little more expensive. In this article, we examined and discussed the reasons to Streamline your FHA Loan now.
The following types of loans would benefit from getting started this week:
FHA loans -Purchase, Refinance, or Streamline Refinance
VA Loans - Purchase, Refinance, or Streamline Refinance
Conforming Loans for purchase or refinance
Fannie Mae and Freddie Mac HARP loans - DU Refi + and Freddie Open Acceess -High Balance too
FHA Jumbo - Purchase, Refinance, or Streamline Refinance
VA Jumbo - Purchase, Refinance, or Streamline Refinance
Conforming Jumbo loans for Purchase or Refinance
Contact us at 866-900-2342 toll free direct to get started. Or apply online 24/7 at www.vandykfunding.com
Licensing Disclosures Privacy Policy Product Disclaimers/Disclosures
California Residential Mortgage Lender registered by the Department of Corporations
VanDyk Mortgage is a private company specializing in FHA & VA financing, VanDyk Mortgage Corp is not a government agency. 799 Avenida Codorniz, San Marcos, CA 92069 760-752-4480
NMLS ID: 3035 - VanDyk Mortgage Corp NMLS ID 220268 Brian Skaar - Loan Originator
Our rates for VA Streamline IRRRL refinance and VA Jumbo Streamline IRRRL Refinance are at all time lows. Rates for VA IRRRL Streamline Refinances and VA Jumbo IRRRL Streamline Refinance are at all -time lows. The continued questions about the Euro Money markets have driven US VA Mortgage rates down, especially VA Jumbo rates for VA loans over $417,000 are at their lowest point ever. If your current VA Rate is too high (5.25% or higher), please give us a call to get started and lock in your low rate. These rates may not last, this is an opportunity alert due to market conditions! Do not delay, the market is changing daily. We offer VA IRRRL Streamline Refinance and VA Jumbo IRRRL Streamline Refinance (aka VA High Balance) throughout California and Washington, including Los Angeles, San Diego, Seattle, and every other city in the state. Our VA IRRRL Streamline Refinances can exceed your current county VA loan limit. Call 760-752-4480 and we can give you a quote to see if you would benefit. VanDyk Mortgage is able to offer competitive VA & VA Jumbo rates because we are a VA direct lender. 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.
Rate Alert for FHA & FHA Jumbo Home Loans - Rates for FHA & FHA Jumbo Loans for Purchase of a home, Refinance, & FHA Streamline refinances continue at all -time lows this week. World and Euro Money market worries continue to cast doubt about the economic recovery worldwide. This has driven down US Mortgage rates. FHA and FHA Jumbo (AKA FHA High Balance) Loans continue at their lowest point ever this week. If your current Interest Rate is too high (5.25% or higher), please give us a call to get started and lock in your low rate. These rates will not last, the markets are very volatile. Call 760-752-4480 and we can give you a quote to see if you would benefit. Ask about the no point/no fee option. Call 760-752-4480 and we can give you a quote to see if you would benefit. VanDyk Mortgage is able to offer competitive FHA & FHA Jumbo rates because we are a FHA direct lender. We offer FHA Loans, FHA Jumbo Loans, FHA Purchase Loans, FHA Refinance, FHA Streamline Refinance and FHA Jumbo Streamline Refinance (aka FHA High Balance) throughout California and Washington, including San Diego, Los Angeles, Riverside, San Bernardino, San Jose, San Francisco, Fresno, Seattle, Bellevue, Tacoma, Everett, bellingham, Spokane, Northern California, Washington, Southern California, and every other city in CA & WA. Call the government loan pros at VanDyk 760-752-4480, ask for Brian Skaar.
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FHA, VA, USDA, Jumbo Lender. NMLS 3035 VanDyk Mtg, NMLS 220268 Brian Skaar - Loan Originator www.nmlsconsumeraccess.org 760-752-4480
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