Home Loans California & Arizona

Buy a house with no money for the down payment in California on the USDA home loan program, not limited to first time homebuyers, Call Direct 909-503-5600.

The USDA purchase home loan program is perfect for those homebuyers with no money for the down payment. Watch the above video to locate the approved lending area in the county in which you are looking to buy in.

The benefits to this program are: 
  • No money for the down payment (will have to come in with a little money to open escrow with and you will have to discuss that amount with your agent)
  • This benefit has to be by far one of the best reason to explore the USDA program, if the appraised value comes in higher than the agreed purchase amount, we can use that extra equity to finance your closing closet.
  • Also, if elected the seller can contribute up to 6% of the purchase amount towards the buyers closing cost
  • No limited to first time homebuyers, can not own or be on title of any other residential property at the time of closing escrow on the USDA loan
  • No prepay penalty, can pay off the loan ay any time with a penalty of doing so
  • Very small monthly mortgage insurance, the MI will remain through the term of the loan
  • No Maximum purchase amount, still need to qualify for the payment within the required debt to income ratio requirements
  • Primary purchase only, can not be used to buy a 2nd or investment property
There are income requirements that are determined by the numbers of dependents that will be living in the property and by which county the home is located in, click HERE to see what are the income limits and we use the "MOD.INC-GUAR.LOAN" line. If you feel you meet the income limit in the county, then you are one step closer in buying a house utilzing the USDA purchase home loan program.

The debt to income ratio is based on the monthly gross income claimed on your federal tax returns. The debts are based on what your credit report reports as debt, also the new house payment and any other debt such as child support, alimony and any deductions that are on your pay-stub, we will need to review all your income and credit documentation to determine that ratios meet USDA underwriting guidelines.

Also, determining on what your middle credit is you may not need reserve assets, what this is 2 months liquid cash that you will have on hand after closing escrow and the 2 months is of the total monthly mortgage payment. Having a higher credit score with reflect a compensating factor that you may not need to have reserves (based on a set middle credit scores, which can change without notice, that is why we need to review at the time of application).

To see if you fully qualify for the USDA purchase home loan program, call or text me at 909-503-5600, also can connect with me here by email nathan@nathanrufty.com. I welcome the opportunity to review your application to see what we can do for you on this great no money down home loan program.

Lets discuss how you can buy a house in California with the USDA home loan program today, we are about "Making Homeownership a Reality".
Posted by Nathan Rufty on May 3rd, 2015 5:01 PM
USDA home loan program will allow you to purchase a home in the state of California with no money, that's right 100% financing. We are making homeownership a reality in California with the USDA lending program. 

Click on the picture below to watch a video on where to find the approved designated areas of the county in which you are looking to purchase  a home in.

If you are limited on funds, then this is the program for you to purchase a home with. Lets explore your options on utilizing the USDA home loan program to purchase a property in California.
Posted by Nathan Rufty on January 24th, 2015 11:53 AM

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

Are you asking yourself "Is this a perfect time to buy a home in California?"

You hear it all the time from the real estate community, it is a perfect time to buy and sale real estate. That may should a little sales-z, but it is true. You have to live somewhere and that some where in California midas-well be your roof. With home loan programs that offer 100% financing, no money down and from 3% to 5% for the down payment, it does not take an enormous about of cash to purchase a home.

California real estate is experiencing some stabilization in home prices but as of this blog rates gave come down due to market volatility and with rental rates expected to increase in 2015, you should start you path towards homeownership. It does not hurt to explore your options in owning a home, you will at least know from a mortgage professional who can direct you in the right direction to purchase a house in California.

With the VA and USDA home loan program in Southern California, your are in luck, these 2 lending programs are the best purchase options on the market. Click on the link to learn more about these mortgage programs. It does not take an enormous amount of money to purchase a home in California with one of these 2 programs.

There are 2 additional loan programs that requires as little as 3% down payment with Fannie Mae and 3.5% down payment with FHA. The benefit with these 2 programs is that they allow gift funds and a down payment assistance home loan program to assist you the required buyer's contribution. As you can see we can locate money for you to purchase a home.

There are 3 buckets of cost when purchasing a property:
  1. Down payment, each lending program will have their own guidelines and this mostly based on your middle credit score
  2. Out off pocket costs, home inspection, termite report, credit report and appraisal
  3. Closing Cost, can be gifted, seller can pay for them, increase the interest to cover, down payment assistance
As I mentioned earlier, it does not hurt to explore your options in buying a home. You will at least know from a licensed mortgage professional if you meet all the lending guidelines to purchase now or will need to work on credit, income or down payment to purchase from 90 days or longer.

Click HERE and lets discuss your options of owning a home. We can create a blue print together that fits your budget and needs. Working with the right professionals that have your best in mind will make for a smooth and exciting home buying experience when looking to purchase property in Southern California!
Posted by Nathan Rufty on December 13th, 2014 4:39 PM

How to Hire the Right Real Estate When You are Looking to Buy or Sell a Home in California!

How to Hire the right Real Estate AgentHere Are Three Traits You Will Want in Your Real Estate Agent:

For both buyer and seller, choosing the right real estate agent to list or locate a home for you is an important and difficult decision, but making the right selection is critical because in the end it could have saved or cost you money during the purchase process. Consider the following essential characteristics for a real estate agent in California before signing any contract:

Their Experience:

A California agent must understand his or her local real estate market as well as the practices and processes of buying and selling a property. While a new agent may have energy and desire to perform but an experienced agent will be able to offer insight and experience which are likely to give their clients the edge in a transaction. The experience does not have to come in form of years in real estate, can be how many closed transactions they have completed. Just because a Realtor® has been the industry for 5 years does not mean they have closed 50 transactions. Experience also indicates negotiating skills and best practices.

An agent must be licensed in California to negotiate price, ensure they are properly licensed to be knowledgeable about a specific neighborhood that you are looking to purchase in. There is also a different when it comes to a residential and commercial agent. Work with the proper agent for the job, commercial properties are much different than residential properties, so find an agent with the experience you require.

Their Creativity:

Since a variety of issues can arise during a real estate transaction, a well prepared real estate agent should be able to solve problems creatively. A California Realtor® who helps their sellers and buyers through difficult problems with reasonable alternatives or finds a way to overcome an obstacle is invaluable.

Marketing is essential in the real estate industry, choose an agent who knows how to creatively use current technology to drive as much traffic to your property or to locate a home for a buyer is a benefit to the process. Buyers usually start their home search online, so an appealing, user-friendly website is essential. For property sellers, videos are often one of the best ways to display the best features of the home for potential buyers to preview the property. With current tools available to all real estate agent, an agent who knows how to use them has advantage of making an effective deal for their clients.

Their Honesty:

California home sellers need someone who will be realistic with them about the value of their property, no matter what other homes in the neighborhood are selling for or what the sellers think their home is worth. Home buyers need an agent who will advise them, that consistently under bidding in order to get more home for more than what they are qualified for will not a viable strategy to own a home. These conversations are difficult to have, but an honest real agent will have them with a buyer to achieve a successful result.

Another vital aspect of honesty is maintain consistent communication with a buyer or seller. Even if there is nothing new to report, a quick status update is essential to maintaining that trust. Silence is a sign of denial or even worse, bad news pending, so an agent who communicates regularly is being honest with their clients.

Finally, an agent needs be honest and forthright to put their client's interest ahead of their own, showing a client every house that fits their criteria and not just those that will give an agent the biggest commission. An effective seller's agent will inform their clients the feedback they receive from potential buyers, even if the news is discouraging. Keeping information from a seller may keep the relationship friendly, but it does not put the seller's interest above the agent's.

Call a local and professionally licensed real estate agent who specializes in your real estate needs when purchasing or selling a property. This is the first step towards a smooth and successful escrow. This also applies to loan officers. I welcome the opportunity to discuss your needs in owning or selling a home at 909-503-5600.

Posted by Nathan Rufty on November 1st, 2014 3:43 PM



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