Home Loans California & Arizona

Looking to Buy a House with No Money Down for the Down Payment, then VA Home Loan is the Program You Want to Buy a House in Rancho Cucamonga California.

va home loan rancho cucamongaIf you are an active duty service member or a retired veteran of the arm services and looking to buy a house in Rancho Cucamonga California, then utilizing your VA benefit to buy a house at 100% financing. That's right no money down for the down payment, as long as you can obtain (which we can do for you) your certificate of eligibility from VA in good standing then you are on your way to start the pre-approval process to purchase a home.

The benefits of the VA home loan program are:
  • No Money down for the down payment
  • No monthly mortgage insurance
  • No pre-penalty - pay the loan off at any time
  • Easy to qualify - is the most liberal with underwriting guidelines amongst the other home loan programs 
  • Loan can be assumable 
  • Fix and adjustable term
  • Can exceed the county loan limit, will have to come in with 25% down payment from the purchase amount to the county loan limit, example: $300,000 purchase amount and county loan limit is $200,000, $100,000 difference, the buyer only needs to come in with 25% of the $100,000 which equals to $25,000 not the whole $100,000.
  • Seller can pay up to 4% of the buyers closing cost and a added benefit, the seller also can pay an additional 2% towards paying debts off for the buyer to qualify for the loan
  • If the rates should drop, the existing VA loan can be refinanced to the lower rate without an appraisal, no income needed and here in California no need for another termite report 
  • If the Veteran has a connected VA disability of 20% or more the VA funding fee is waived
  • If the Veteran has limited funds for the closing cost the lender can increase the interest rate to give a lender credit to cover the buyers closing cost 
Program guidelines are subject to change without notice and interest rates move daily til you have an open escrow. It does not hurt to explore your purchase options to buy a house in Rancho Cucamonga using your VA eligibility. 

I welcome the opportunity to speak or meet with you and discuss your options to see how we can extend a VA purchase home loan. Please call me direct at 909-503-5600 or email HERE to schedule an appointment to get started on homeownership.
Posted by Nathan Rufty on November 14th, 2015 6:00 PM

VA Home Loans in Ontario CA are available for active and retired service members to buy a house with no money down for the down payment, 100% financing. 

The VA home loan program is perfect for veterans looking to purchase a home with limited funds, with zero down payment and non-allowable fees the applicant can not pay for, this is one of many benefits allotted to our service members, homeownership. 

The benefits with the VA home loan program are:
  • No money for the down payment
  • No monthly mortgage insurance regardless of the loan to value
  • One of the easiest home loans to qualify, still must meet all current underwriting guidelines with income and credit
  • Seller if elected, the seller can pay up to 4% of the purchase price towards closing cost
  • Termite is required in California but the applicant can not pay for the inspection report
  • If the Veteran is disabled by the Veteran's Affair of 20% or more, the VA funding is waived
  • If the applicant had a foreclosure or short sale 2 or more years ago, they are now eligible to apply for a purchase or refinance home loan, the shortest time among any other loan program
  • Opportunity to refinance known as the IRRRL program
  • Refinance up to 100% of the appraised value of your home and you can pull out 100% of the home's equity to payoff debt or do home improvement projects and still without mortgage insurance, need to qualify for the loan with income, credit, debt ratio
The benefit that the VA home loan program offers once in the program is, you are able to refinance into a lower rate without a termite report, no income documentation and no appraisal inspection, this is known as a IRRRL (Interest Rate Reduction Refinance Loan). So if the interest rates happen to fall lower then what your current rate is, you can refinance into a lower rate seamlessly, this is a no cash out refinance, just a streamline refinance into a lower mortgage payment.

Let's discuss your plans and goals with the VA home loan program to purchase with no money down or with a streamline refinance to lower your overall monthly mortgage payment. I have been certified by my present employer to offer, originate and fund VA home loans in the state of California.

I am Loan Officer properly licensed in the state California and predominately serving the Inland Empire with purchase and refinance VA home loans. I welcome the opportunity to serve you as you did for our country and my services come with the best customer service and communication from the moment you call or text 909-503-5600 as well as emailing me HERE. I look forward in speaking or meeting with you.   
Posted by Nathan Rufty on June 20th, 2015 3:42 PM

Purchase a Home in Rancho Cucamonga California with No Money Down on the VA Home Loan.

VA assist Service members, Veterans, and eligible surviving spouses become homeowners in Rancho Cucamonga as well as through out Southern California. As a part of our mission is to serve you, we provide a home loan and other housing-related programs to help you buy and repair a home for your own and retain as your personal residency.

A VA Home Loan are provided by private lenders, such as banks and direct mortgage lender. VA guarantees a portion of the loan, enabling the lender to provide you with favorable terms.

The VA home loan program is available to current and active military personal as long as he or she is in good standing with the VA and can obtain a Certificate of Eligibility.

The benefits of a VA Home Loan program are:

  • 100% Financing up to the county loan limit (each county has a limit on loan amount)
  • No money down required (can bring in funds if chose to) as long as the sells price does not exceed the appraised value of the home
  • No monthly mortgage insurance
  • Competitive interest rates, lower then conventional rates with 20% down
  • VA loans require a funding fee unless exempted by way of being 20% or more disabled by the Veteran’s Affairs
  • Loan can be assumable as long as the person assuming the loan qualifies
  • Has a sub-program to improve the energy efficient of the home, such as windows, heating and a/c unit
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs may be paid by the seller or lender
  • No penalty fee if you pay the loan off early
  • VA may be able to provide you some assistance if you run into difficulty making payments
  • You do not have to be a first-time homebuyer
  • You can reuse the benefit over and over as long as you are in good standing with the VA

You can see why the VA Home Loan program is a benefit to our active and retired service members when purchasing a home.

Service members and Veterans:

To obtain a COE, you must have been discharged under conditions other than dishonorable and meet the service requirements below:

Status Qualifying Wartime & Peacetime Periods Qualifying Active Duty Dates Minimum Active Duty Service Requirement
Veteran WWII 9/16/1940 – 7/25/1947 90 total days
Post-WWII 7/26/1947 – 6/26/1950 181 continuous days
Korean War 6/27/1950 – 1/31/1955 90 total days
Post-Korean War 2/1/1955 – 8/4/1964 181 continuous days
Vietnam War 8/5/1964 – 5/7/1975 *For Veterans who served in the Republic of Vietnam, the beginning date is 2/28/1961 90 total days
Post-Vietnam War 5/8/1975 – 9/7/1980 *The ending date for officers is 10/16/1981 181 continuous days
24-month rule 9/8/1980 – 8/1/1990 *The beginning date for officers is 10/17/1981
  • 24 continuous months, OR
  • The full period (at least 181 days) for which you were called or ordered to active duty
Gulf War 8/2/1990 – Present
  • 24 continuous months, OR
  • The full period (at least 90 days) for which you were called or ordered to active duty
Currently On Active Duty Any Any 90 continuous days
National Guard & Reserve Member Gulf War 8/2/1990 – Present 90 days of active service
  • Six years of service in the Selected Reserve or National Guard, AND
    • Were discharged honorably, OR
    • Were placed on the retired list, OR
    • Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, OR
    • Continue to serve in the Selected Reserve
*If you do not meet the minimum service requirements, you may still be eligible if you were discharged due to (1) hardship, (2) the convenience of the government, (3) reduction-in-force, (4) certain medical conditions, or (5) a service-connected disability.

Working with a lender that knows the VA home loan process is key in California, I had the privilege in working with many veterans in securing a 100% no money down VA home loan program over my 25 years of lending. I welcome the opportunity to discuss the requirements of this great loan program and how we can start the path towards homeownership.

by Nathan Rufty

Posted by Nathan Rufty on December 20th, 2014 9:26 AM

Archives:

Categories:

My Favorite Blogs:

Sites That Link to This Blog: