97% conventional loans for Corona and Riverside County, CA

97% conventional loans for Corona and Riverside County, CA


Corona CA Conventional Loans with 3% down payment - Yes, 3 percent down - 97% conventional financing options for Corona and Riverside County Home Buyers

VanDyk Mortgage offers Conventional Purchase and Refinance loans up to $417,000 with just a 3% down payment for Corona and Riverside County Homes. Here are some basic details:

Corona 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 Corona or Riverside County 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)

In addition to Corona, we also service the following cities in Riverside: Banning, Beaumont, Blythe,Calimesa, Canyon Lake, Cathedral City, Coachella, 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.

FHA Loans for Duplex, Triplex, and Fourplex properties

We offer FHA Loans for Duplex, Triplex, and Fourplex properties  for Purchase and Refinance.  FHA Loans on 2 unit, 3 unit, or 4 unit properties

We offer FHA Loans to finance the purchase of a multi family home (2-unit, 3-unit or 4 Unit, aka Duplex, Triplex, and Fourplex) as well as refinance your current loan into an FHA or Streamline Refinance your existing FHA Loan.  This can be a great investment strategy, as you can live in one of the units and rent out the other(s).  This awesome opportunity only requires the standard 3.5% FHA Downpayment and that you live in and occupy one of the units to qualify for FHA Financing.

You can use the rental income of the rented unit on a 2-unit or Duplex to help qualify.  This will determined either by using existing tenants and their actual rent rolls, or a projected rent schedule from the FHA Appraisal.  Our FHA underwriters will allow you to use 75% of those rents towards your income for qualifying purposes. For 3-4 unit properties, the rents cannot be counted towards income to qualify - IE, the buyer must qualify for the entire payment without consideration of rental income.

Call us if you are interested in purchasing a multi unit property, and we can help you with the numbers. You might be surprised what you would qualify for! 866-900-2342 toll free direct.

We do suggest that you utilize a good Realtor when searching for a multi-unit property, as they can help with the property search, cash flow projections, and FHA property eligibility.

You can utilize an FHA Loan to make your next home a true investment. Here are the Multi Unit FHA Loan Limits for high cost California Counties including Alameda, Contra Costa, Los Angeles, Marin, Monterey, Napa, Orange, San Benito, San Francisco, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, and Ventura:

• High Cost California County FHA Loan limits for 2 units: $934,200
• High Cost California County FHA Loan Limits for 3 units: $1,129,250
• High Cost California Countys FHA Loan Limits for 4 units: $1,403,400

Many other California counties are eligible for higher FHA loan amounts for FHA 2, 3 or 4 plex purchase and refinance.

Here is a complete list of California Counties and their FHA Loan Limits for Multi Units

Call the FHA Loan Pros at VanDyk Mortgage today at 866-900-2342 to get started, or apply online at VanDykFunding.com

2-unit, 3-unit, 4 unit, duplex, triplex, fourplex, twoplex, threeplex, quadplex, FHA, FHA Lender, FHA Jumbo, Direct Lender

97% Conforming Loans for California - 3% down payment Conforming Loans– 97% conventional financing option

California Conforming Loans with 3% down payment – 97% conventional financing option

VanDyk Mortgage offers Conforming Conventional Purchase and Refinance loans up to $417,000 with just a 3% down payment / equity.    Here are some basic details of the 97% conforming loan for California Homebuyers:

California and Washington state are now eligible for our Conventional Conforming Fannie Mae Loans up to 97% Loan to Value – Only 3% down payment is required up to the conforming loan limit - $417K.   We no longer consider CA or WA declining markets, so we are able to offer these enhanced 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.

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.

CA, Direct Lender, Conventional, Conforming, 97, 3 percent, 97 percent, low down