Conventional Condo Financing with 5% down in California

Conventional Condo Financing with 5% down in California - California Condo loans with 95% Conventional Loan

We offer Conventional Loans with 5% down payment to finance Condo's in California 

VanDyk Mortgage offers Conventional Purchase loans for Condominiums up to $417,000 with just a 5% down payment.   

Here are some basic details:

California and Washington state are now eligible for our Conventional Fannie Mae Condo Loans up to 95% Loan to Value - Only 5% down payment is required.   We do not consider CA a declining market, so we are able to offer these enhance financing options for Conventional loans.

• Minimum credit score = 680
• Maximum Debt Ratio = 41%  
• Loan amounts up to $417,000 (purchase price up to $438K with 5% down).

If you don't have a 680 middle score, or have a slightly higher debt ratio,  we can still help with our FHA Loans.   If your purchase price is higher than $438K, FHA Jumbo may be able to help as well.  

Give us a call to get started - 760-752-4480.  

VA Condo Loans -VA Loans to buy or refinance Condominiums

VanDyk Mortgage VA Condo Loans -VA Loans to buy or refinance Condominiums / Condo's.

VanDyk Mortgage is a VA Lender offering VA Loans to purchase or refinance Condominiums. The tightening credit market of the past couple years has wrought havoc 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. To qualify for a VanDyk VA Condo Loan, the condo must be on the VA Approved Condo list, which includes many existing complexes. You can search for VA Approved Condos yourself or rely on us. The hard part is the Condo Association name may not appear in the VA Site, forcing us to use the homes Legal description to determine the VA Condo Eligibility. Simply call us so we can help research the Condo's Eligibility for a VA Loan.

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 theCounty VA Loan Limits). This includes Purchase, Refinance, and the popular VA IRRRL, or VA Streamline Refinance.

VanDyk does not require the seller to hold the property for 90 days 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, 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 in California & Washington state. Condo's in cities like San Francisco, Oakland, Los Angeles, San Diego, San Jose, Seattle, Bellevue, Ventura, and Irvine can qualify for VA Condo Loans.