Home Loans California & Arizona


Looking to buy a house in California or Arizona and limited on money for the down payment. Here are three purchase loan programs that you can explore.

In this Podcast, we will review the VA home loan, USDA Home loan, and Down Payment Assistance loan programs. I welcome the opportunity to discuss with you these three loan programs to be able to buy a house in Arizona or California. 

Please call, text or email me with any questions, 

Nathan Rufty
Mortgage Loan Originator 

CA Call or Text: 909-503-5600

AZ Call or Text: 623-850-1210
eFax: 888-837-2861
CA & AZ NMLS #292056
NRufty@CanopyMortgage.com
www.NathanRufty.com
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Posted by Nathan Rufty on December 27th, 2020 11:57 AM

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

Loan Officer in Ontario CA specializing in purchase and refinance home loans with programs such as FHA, VA, USDA, Conventional and Down Payment Assistance loan programs.
  


Weather you are looking to buy a house or refinance one, I welcome the opportunity to assist you with your home loan needs and discuss your financial goals. The home loan process is a very smooth transaction when working with the right dedicated Licensed Loan Officer such as myself. I have been a part of the lending community since 1988 and continue to assist "Making Homeownership a Reality." 

Searching for the best loan programs with cost, fees and interest rate is what every loan applicate is looking for, image having those great rates and fees, then add expectational customer service and communication in the process, there you have a great recipe for success.

Loan Officers do not have any control over market conditions but what we do have control of, is how we handle our customer service and how we deliver our communicate during the home loan process. I want you to experience first class service the moment you call me at 909-503-5600. Product knowledge is another key competent when looking for a Mortgage Professional who has your best interest in mind.

The mortgage industry updates it's self every few months with new underwriting and product guidelines. Working with a full time Loan Officer will ensure a smooth and on time closing. When looking for professional to assist you with your home loan, do some proper research of that individual. Online presence can inform you about this individual's work ethic. Also, make sure they hold a current lending license in the state your property is in. Look up their NMLS number of that person you are speaking with, anyone quoting you a rate and terms of a home loan must be licensed to do so through the Nationwide Mortgage Licensing System (NMLS).

Ontario CA is a growing community and I am eager to assist those individuals looking to buy a house or refinance a property with the available home loan programs here in California. It is my goal to inform, educate and present all lending programs based on your income, credit and assets. If current financial situation does not allow you to move forward with a home loan, I will work with you to create a road map to follow, to have a game plan to get you in the position to one day purchase or refinance a home.

I value your business and relationship, I am not a fly by night professional. Since 1988 I have been assisting borrowers fulfill their refinance and purchase loan needs. This is has been a career of mine for almost 30 years, dedication like this only comes for those professionals who's number one is your number one goal. 

I welcome the opportunity to discuss your goals of purchasing or refinancing a home at 909-503-5600. Please call or text me to connect on how I can be a key part of your home lending needs. You can also email me HERE to speak about your Ontario CA home loan. 

Posted by Nathan Rufty on June 13th, 2015 9:04 AM
Looking to buy a house in Ontario CA in the Inland Empire area of San Bernardino County. What type of home loan programs are available to purchase a home?

There are several home loan programs to purchase a house in Ontario CA such as loans with FHA, VA, Fannie Mae, Freddie Mac and Down Payment Assistance home loan programs.

The FHA home loan program are not limited to first time home buyers, this loan program is available to the vast majority of home buyers today. As of today the down payment is as little as 3.5% down of the purchase amount, which can come from a DPA (down payment assistance) program, gift from a family member, retirement plan and many other approved source of funds. The debt to income ratio can go higher than other loan program, once of the highest allowed, some compensating factors will help with an approval of a high debt to income ratio such as higher credit scores and reserves of funds that are sourced and verified.

The VA home loan program is available to active and retired service members that are in good standing with the Veteran's Affairs. This is a no money down payment purchase program in California with no monthly mortgage. This by far is the best performing home loan program on the market today, even at 100% financing with very liberal underwriting standards this loan program has the lowest foreclosure and delinquency rates amongst all other purchase programs. If you are a active or retired military personnel this is the program for you.

The Fannie Mae and Freddie Mac home loan programs almost a mirror image of one another with some minor adjustments with underwriting qualifications. Both now offer a 3% down payment purchase home loan program, this opens more opportunities for homebuyers to compare this option with the FHA loan program. Putting less than 20% for the down payment will require monthly mortgage insurance, on the Conventional loan program the MMI can be bought out and will eventually drop off, unlike FHA will remain throughout the life of loan if you put less than 10% down. Fannie Mae and Freddie Mac do have tighter underwriting standards than any other purchase programs, but still an option to explore when buying a home in Ontario California.

There are many Down Payment Assistance Program in California starting with local cities, counties and statewide programs. There are DPAs that are open to non-first time home buyers, a great option to purchase a house with limited funds to do so. The DPAs do have income limits that depend how many dependents will be living in the home, more dependents there are the more income can be used to qualify for the programs, some of the programs have high income limits so do not count this option out till we investigate your option utilizing a Down Payment Assistance programs.

There are several other purchase programs in the state of California that one can take advantage such as the USDA-RD no money down purchase program (not available in Ontario CA) as well as the HUD 184 Native American home loan program.

I welcome the opportunity to discuss your goals of buying a home in Ontario CA weather a first time home buyer or rebound buyer, let's explore your lending options. Call or text me at 909-503-5600 or email me HERE to start the conversation.

by Nathan Rufty   

 
Posted by Nathan Rufty on April 12th, 2015 10:49 AM

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