Welcome to VACondoLender.com. We developed this site to provide Military Veterans and Active Duty Personnel a better way to get information on purchasing a Condominium utilizing their VA Home Loan Benefit.
VA Loans are a great way to purchase a new Condo – Zero Down Payment is required in most cases, qualifying is more flexible (when using an experienced VA Lender), and VA Loans offer safe, secure and affordable options.
Please explore our site to find out more about VA Loans, VA Jumbo Loans, Qualifying for a VA Loan, info on VA Approved Condominiums, and more.
VA Condo Loans after Hardship – Bankruptcy, Foreclosure, Short Sale
Many Veterans have encountered financial Hardship over the past few years. Deployments, Active Duty Recalls, Overseas Tours, Risky Mortgage Loans, falling Real Estate Prices, Unemployment, etc have created unprecedented Financial Hardship for many Veterans across America in the form of Bankruptcy, Foreclosure and Short Sale.
We have good news for our Vets: You can get a VA Loan soon as 2 years after Bankruptcy, Foreclosure, or Short Sale.
Here is a quick list of the waiting period for each Hardship.
VA Condo Loans After Financial Hardship:
- VA Condo Loans after Bankruptcy – as soon as 2 yrs after Bankruptcy Discharge
- VA Condo Loans after Foreclosure – as soon as 2 yrs after Foreclosure Sale Date
- VA Condo Loans after Short Sale – as soon as 2 yrs after Short Sale date
- Short Sales that had no late Mortgage Payments prior to date of sale may be eligible sooner than 2 yrs (sometimes immediately after sale)
If you are a Veteran that has experienced one of these financial hardships, please call us to find out how soon you may qualify for a new VA Loan to purchase a new home, upgrade your existing home, or refinance your current loan to take advantage of low interest rates. 866-900-2342 toll free direct.
We service Veterans and Active Duty Military Personnel across all of our service areas – California cities including Los Angeles, San Francisco, San Jose, San Diego, Encinitas, La Jolla, Marina Del Rey, Santa Monica, Santa Barbara, Monterey, Oakland, Sausalito, Manhattan Beach, Hermosa Beach, Newport Beach, Huntington Beach, Irvine, Sacramento, etc. We also serve Washington State cities including Seattle, Bellevue, Kirkland, Tacoma, Vancouver, Bellingham, Port Orchard, Federal Way, Everett, and everything in between.
San Diego VA Condo Information. VA Loans to Purchase, Refinance, and VA IRRRL Streamline Refinance.
VanDyk Mortgage is your source for VA Condo Loans in San Diego, CA. We have been making VA loans for Veterans since 1987. VanDyk Mortgage is a Direct Lender offering VA and VA Jumbo Loans. We offer many VA loan programs for San Diego County Homebuyers and California Veteran Homeowners including VA Loans to Purchase and Refinance Condo’s, as well as Streamline Refinance using the VA IRRRL Program.
- VA Condo Loans (Purchase and Refinance)
- VA Jumbo Condo Loans (Purchase and Refinance)
- VA Loans for Single Family Homes (Purchase and Refinance)
- VA Loans for 2-4 Unit Multi Family Homes (Purchase and Refinance)
- VA Streamline Refinance (IRRRL)
- VA Jumbo Streamline Refinance (IRRRL)
San Diego VA Condo Loans are available up to $477,000 with Zero down payment required. The San Diego County VA Loan Limit in 2012 is $477,000. We do not limit local Veterans to the County Loan limit of $477,000 for San Diego VA Jumbo Loans. We also offer VA Jumbo Loans up to $1.5 Million with a corresponding 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.
Even if your current VA Loan exceeds the VA County limit, we can help you utilize the VA IRRRL Streamline Refinance, we offer VA IRRRL Streamlines even when loan amount exceeds your VA County Loan Limit.
VA Condo Loans in San Diego, California:
- Active Duty Military and Veterans can both qualify
- 100% financing up to $477,000
- A $560,000 San Diego Condo Purchase would only require a $20,750 down payment ( 3.71%) – not including the VA Funding Fee
- A $650,000 San Diego VA Condo Purchase would only require $43,250 down payment ( 6.65%) – not including the VA Funding Fee
- A $850,000 San Diego VA Condominium Purchase would require a $93,250 (10.97%) not including the VA Funding Fee
- 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 eligible as soon as 2 years after Bankruptcy, Foreclosure, or Short Sale of a Non-VA Home Loan
- Your VA Benefit can be used more than once
- No Max Income Limits for VA Loans
For VA financing on VA Approved Condo’s, it’s important to start with VA Approved HOA’s (Condo’s). Here is a link to the Veterans Administration VA Approved Condo Search. Please give us a call if you have questions or need help with finding a VA Approved Condo, we can help. We also provide assistance in getting your Condo Approved with the VA.
VanDyk Mortgage has been helping Veterans with VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender also. We are a VA Lender and VA Jumbo Lender. We offer VA Loans, VA Jumbo Loans, VA Condo Loans, VA Refinance Loans, VA Jumbo Refinance Loans, VA IRRRL Streamline Loans and VA Jumbo IRRRL Streamline Loans.
Go with the Government Loan Pros, go with VanDyk. Call Brian Skaar at 760-752-4480 for help with your VA loan financing.
We service the following cities in San Diego county: Carlsbad, Chula Vista, Coronado, Del Mar, El Cajon, Encinitas, Escondido, Imperial Beach, La Jolla, La Mesa, Lemon Grove, Mira Mesa, National City, Oceanside, Poway,Rancho Penasquitos, Rancho Bernardo, San Diego, San Marcos, Scripps Ranch, Valley Cente, and all areas within the county as well.
Is this Long Beach Condo VA Eligible?
We hear this question quite often about VA Condo Eligibility and VA Condo Approval. The answer isn’t always easy to find for Veteran Homebuyers in Long Beach, CA. Real Estate Agents, Sellers, and sometimes even the HOA don’t have the most updated info on their VA Condo Approval Status.
It should be easy to figure out if a Condo is VA Approved, but it isn’t always as easy as it should be.The VA Condo Search Portal doesn’t index by the common names you would normally use for a Long Beach VA Condo. The VA uses an assortment of names: HOA Name, Tract number, Map Number, or another abbreviation, loosely based on the above.
So the next question for Long Beach VA Homebuyers looking for Condo’s is – How do Veterans find out if a Long Beach Condo is VA Approved? Just give us a call or email us the Condo’s information – Address, HOA name, etc. We will research it for you and let you (and the Agents and Seller) know if your Condo is VA Approved.
A strong word of Caution: When buying a Long Beach Condo with a VA Loan, be sure to work with a VA Lender that is well versed in VA Condo Financing. There are multiple types of VA Condo Approvals. It is best to know upfront what your VA Purchase of a Condo will require (based on the type of VA Approval).
Also – Don’t give up on that Condo just because you were told it isn’t VA Approved! I have seen many Condo’s in Long Beach that are in fact eligible for VA Financing, however the Listing Agent, Buyers Agent, HOA, Seller, or even another Lender thought it wasn’t VA Eligible or VA Approved. This is usually the result of a limited knowledge of the VA Condo Approval Process and VA Lending. We have saved escrows by helping Vet’s buy Condo’s that others claimed were ineligible for VA Loans.
Eligible Condo’s can be purchased with both VA Loans and VA Jumbo Loans. The key is to select an experienced VA Condo Lender and Real Estate Agent that is well versed in writing and negotiating VA Purchase Offers.
When looking for a VA Loan to purchase a Condo in Long Beach, call the VA Loan Pro’s at VanDyk Mortgage. 760-752-4480 Direct, please ask for Brian Skaar.