Tag Archives: Washington

VA Loan Limits for 2014 – up to $1,050,000 in California

VA Loan Limits for 2014 – up to $1,050,000 in California

Go here for complete 2015 California VA Loan Limits

The Veterans Administration has announced the VA Loan Limits for California for 2014. The formula for generating the VA Loan Limits was altered by Congress in 2008, and was reinstated beginning August 6, 2012.   The new California VA Loan Limits for 2014 have increased in some areas, stayed the same in others and went down in a select few counties.

The VA Jumbo Loan allows Veterans and Active Duty Military Personnel to purchase homes in higher cost areas of California and Washington at loan amounts more in sync with local housing prices. Qualified Vet’s can purchase up to $1,050,000 with zero money down in Bay Area counties such as San Francisco, Marin, San Mateo, Alameda and Contra Costa.

Some examples of the new VA Loan Limits in California are:  Veterans in Los Angeles, Orange County, Brea, Pasadena, Irvine, Costa Mesa, Huntington Beach, and Long Beach may qualify for a 100% VA Jumbo loan up to $687,500.   San Diego County cities including San Diego, Oceanside, Chula Vista, El Cajon, Encinitas, Carlsbad, San Marcos, Escondido, Rancho Bernardo, and La Mesa   a Vet can borrow up to $546,250 with no money down when buying a house.   San Jose Vets can go up to $827,500 with no money down VA Purchase Loan.  SF Bay Area Vets buying a home in San Francisco, Alameda, Oakland, Fremont, Contra Costa, Marin, San Mateo, Daly City, etc can qualify up to $1,050,000 for a 100% VA Jumbo Loan as well.  We also offer VA Loans that exceed these limits with the appropriate amount of Down payment on purchases, or equity on Refinances, with a max VA Jumbo Loan amount of $1.5M.

VanDyk Mortgage is a proud VA Lender serving many states including California, Georgia, Massachusetts, Virginia, Washington, and more.

We have compiled the California VA Loan limits for 2014 by county below.

State County 2014 VA Loan Limit

CA ALAMEDA $1,050,000

CA ALPINE $463,450

CA AMADOR $417,000

CA BUTTE $417,000

CA CALAVERAS  $417,000

CA COLUSA $417,000

CA CONTRA COSTA $1,050,000

CA DEL NORTE $417,000

CA EL DORADO $474,950

CA FRESNO $417,000

CA GLENN $417,000

CA HUMBOLDT $417,000

CA IMPERIAL $417,000

CA INYO $417,000

CA KERN $417,000

CA KINGS $417,000

CA LAKE $417,000

CA LASSEN $417,000

CA LOS ANGELES $687,500

CA MADERA  $417,000

CA MARIN $1,050,000

CA MARIPOSA $417,000

CA MENDOCINO $417,000

CA MERCED $417,000

CA MODOC $417,000

CA MONO $529,000

CA MONTEREY $500,000

CA NAPA $592,250

CA NEVADA $477,250

CA ORANGE $687,500

CA PLACER $474,950

CA PLUMAS $417,000

CA RIVERSIDE $417,000

CA SACRAMENTO $474,950

CA SAN BENITO $827,500

CA SAN BERNARDINO $417,000

CA SAN DIEGO $546,250

CA SAN FRANCISCO $1,050,000

CA SAN JOAQUIN $417,000

CA SAN LUIS OBISPO $561,200

CA SAN MATEO $1,050,000

CA SANTA BARBARA $643,750

CA SANTA CLARA $827,500

CA SANTA CRUZ $681,250

CA SHASTA $417,000

CA SIERRA $417,000

CA SISKIYOU $417,000

CA SOLANO $417,000

CA SONOMA $520,950

CA STANISLAUS $417,000

CA SUTTER $417,000

CA TEHAMA $417,000

CA TRINITY $417,000

CA TULARE $417,000

CA TUOLUMNE $417,000

CA VENTURA $598,000

CA YOLO $474,950

CA YUBA $417,000

Many Vets would like to purchase or refinance a home that exceeds their Countie’s VA Loan Limit. If you need a VA loan for a higher amount than your county loan limit, please call us.  We do offer VA loans over the county loan limits for Purchase, Refinance, and VA IRRRL Streamline Refinance (aka VA Streamline), up to $1.5M nationwide with appropriate down payment or home equity to meet the VA guarantee requirement.   Call Brian Skaar at 760-752-4480 to get started.

VanDyk Mortgage also offers FHA, VA, & Conventional loans in addition to FHA Jumbo, VA Jumbo, and Conforming Jumbo loans (aka FHA High Balance, VA High Balance, and Conforming High Balance).

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Filed under California VA Lender, VA Jumbo Loans, VA Jumbo Purchase, VA Loans, VA Purchase Loan

VA IRRRL Streamline Refinance Options for Washington Veterans

VA IRRRL Streamline Refinance Options for Washington Veterans

The VA IRRRL Streamline Refinance is a great option to reduce the interest rate on your Washington VA Loan.   The VA Streamline requires reduced documentation,  and offers a streamlined process.

VA IRRRL (Interest Rate Reducing Refinance Loan) Streamlines and VA Jumbo IRRRL Streamline Refinances are available for Owner Occupied Homes, Single Family Homes, Condo’s, Second Homes, and Rental Properties secured by VA and VA Jumbo Loans.   (Rental Properties are also known as Non-owner, or Investment Homes)

  • Basic requirements for a Washington VA IRRRL Streamline Refinance:
  • On-time Mortgage Payments last 6 months
  • No income or asset documentation required
  • No Maximum Loan Amount – Current VA Loan Limits do not cap your VA IRRRL with VanDyk IRRRL’s
  • Minimal Costs
  • Full Appraisal Alternatives available (ie, sometimes no appraisal required)
  • You can exceed your Washington county VA Loan Limit for the IRRRL Streamline
  • 30 yr Fixed Rate is the best option for most Veterans

If you have a current VA Loan that exceeds the VA Loan Limit, we can help.  We do not limit VA Jumbo IRRRL Streamline Refinances to the County VA Loan Limits.

We are a Direct Lender for VA Loans.   We offer VA IRRRL Streamlines throughout Washington State, including  Seattle, Spokane, Tacoma, Everett, Bellevue, Kirkland, Redmond, Vancouver, Kent, Auburn, Renton, Federal Way, Puyallup, Seatac, Olympia, Lacey, and every other city within the Evergreen State.  Call the Government Loan Pros with VanDyk Mortgage at 866-900-2342 today.

>>>  Get started here on your VA Loan PreApproval or give us a call at 866-900-2342  (toll free direct)

 

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Filed under VA IRRRL Streamline, VA Jumbo IRRRL Streamline, VA Jumbo Loans, VA Loans

Seattle VA Loans for Condo’s -VA Loans to buy or refinance Condo’s and Condominiums in Seattle

Seattle VA Condo Loans -VA Loans to buy or refinance Condo’s and  Condominiums in Seattle

VanDyk Mortgage is a VA Lender offering VA Loans to purchase or refinance Condominiums in Seattle.   The tightening credit market of the past couple years has made it more difficult to attain financing on on Condominiums as Conventional Agencies Fannie Mae & Freddie Mac have added many restrictions on Condos, both in the way of reduced eligibility and also increased rates for Condo’s.   FHA also recently changed it’s rules for Condominium eligibility as well, making it even harder for Sellers and Listing Agents to sell Condo’s.

In comes the VA to the rescue for Seattle Condo Buyers and Condo homeowners.   To qualify for a VA Loan on a Condo, the condo must be on the VA Approved Condo list, which includes many existing complexes.   You can search for VA Approved Condos yourself, or let us assist you,we are here to help.

VanDyk Mortgage offers VA financing on Condos with VA Loans up to $417,000 and we also offer VA Jumbo Loans for Condo’s (up to the County VA Loan Limits – $517K in King County).   This includes Purchase, Refinance, and the popular VA IRRRL, or VA Streamline Refinance.

For a Seattle VA Condo purchase or refinance above the King County VA Loan limit of $517,500,  the Veteran must make an accompanying down payment of 25% of the difference between the loan limit (assuming full entitlement eligibility for the Veteran).   Here are a couple of examples:

  • A $617k Seattle VA Home Purchase would only require $25,000 down payment ( 4.032%)
  • A $680k Seattle VA Home Purchase would only require $40,625 downpayment ( 5.974%)

VanDyk does not require the seller to hold the property for 90 days prior to sale like many other lenders.   If the seller of record on the day of the purchase agreement matches, that fits within our rules.   Another name for this is the Flip Rule, or VA Flip Rule, where many banks require a seller to be on Title for 90 days minimum, we only require 1 day.

We offer VA Loans for Condo’s throughout California & Washington state.   Condo’s in cities like San Francisco, Oakland, Los Angeles, Long Beach, Torrance, San Diego, San Jose, Seattle, Bellevue, Redmond, Kirkland, Issaquah, Woodinville, Tacoma, Lynnwood, Ventura, and Irvine can qualify for VA Condo Loans.

>>>  Get started here on your VA Loan PreApproval or give us a call at 866-900-2342  (toll free direct)

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Filed under Uncategorized, VA High Balance, VA IRRRL Streamline, VA Jumbo IRRRL Streamline, VA Jumbo Lender, VA Jumbo Loans, VA Jumbo Purchase, va loan after bankruptcy, va loan after foreclosure, va loan after short sale, VA Loans, VA Loans over $1m, VA Purchase Loan, WA VA Lender