Oakland VA Loans and FHA Home Mortgage Loan info for 2018 – California VA Lender & FHA Lender
VanDyk Mortgage is your source for VA Loans and FHA Loans in Oakland. We have been making FHA, VA, Conforming, and Jumbo loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Oakland Homebuyers and Oakland 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
Oakland FHA Loans are available up to $679,650 with just 3.5% down payment. The FHA 2018 Loan Limit for Oakland is $679,650. Oakland FHA Loans that are over $453K up to $679,650 are called FHA Jumbo or FHA High Balance loans.
Oakland VA Loans are available up to $679,650 with zero down-payment. The Oakland VA Loan Limit for 2018 is $679,650. However, Veterans are not limited to the Alameda county Loan limit of $679,650 for VA Loans. We 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.
Oakland Conforming Loans are available up to $679,650. The Oakland Conforming Jumbo Loans (aka Conforming High Balance, those over $453,100 and up to $679,650) require a minimum of 5% down-payment or equity.
Oakland Home Loan information
FHA Home loans for Oakland, California:
- FHA Home Loans require just 3.5% down-payment
- FHA Jumbo Loans up to $679,650 (aka FHA High Balance)
- The $679,650 is the base loan amount – the Oakland FHA Loan Limit of $679,650 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 580, even on FHA High balance or FHA Jumbo.
- You can receive a gift of funds for your Downpayment and closing costs from Family
- FHA Condominium requirements include at least a 51% owner occupancy ratio, no outstanding lawsuits against the Homeowners Association – call for details.
- FHA Loans allow non-occupying co-borrowers such as parents and siblings.
VA Home Loans for Oakland, California:
- Active Duty Military and Veterans can both qualify
- 100% financing up to $679,650
- A $850k Oakland Home Purchase would only require $42,588 down payment (5.01%)
- 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 Condominiums. Here is more information on VA Condo Loans for Oakland . We also offer VA Jumbo Loans to purchase Condo’s!
- 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 Alameda County VA Loan Limit
Conforming Home Loans for Oakland, California:
- Available up to $679,650 with the Conforming High Balance (aka conforming Jumbo)
- Oakland Conforming loans available up to $453,100
- Just 3% down-payment required up to $453K
- Now available – NO Monthly PMI Loans up to $453K with 5% down-payment
- Conforming Jumbo Loans over $453K 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.