VanDyk Mortgage still offers the VA IRRRL Refinance still available without appraisal or credit scores. The VA IRRRL goes by a couple of other names, the Earl, VA Streamline Refinance, and VA Refinance. Many large banks have begun to require appraisals and minimum credit scores of 620 or 640 for VA Streamline Refinances or IRRRL's. VanDyk Mortgage does not require an appraisal or minimum credit score for these. We do require that your monthly mortgage payments have been made on time for the last 12 months and that a new IRRRL would benefit the Veteran with monthly savings.
Here is another post that we did awhile back that contains many of the details of the VA IRRRL Streamline Refi.
Call us today to get started saving money on your monthly house payment. 866-900-2342.
VanDyk Mortgage has been making Government Home Loans since 1987. We are a VA Direct Lender (FHA Direct Lender too). Call the Government Loan Pros first, you will be happy you did. 866-900-2342 toll free. www.vandykfunding.com
In our first post of this 2 part series, we outlined a few scenarios that VA Jumbo loans can help, whereas conventional jumbo loans simply cannot.
Here are two more compelling examples where VA Jumbo loans can help our Vets with safe, secure and affordable financing for their home:
Scenario 3. You live in San Diego, your home is worth $750K. You have a first mortgage is $550K , and you have a second mortgage of $90K that you used to upgrade your home, and enhance it's value. A conventional jumbo loan will consider this a Cash-Out transaction due to the second mortgage being paid off, and you will be limited to a maximum of 60% Loan to Value or LTV. This won't work, you are at 85.33% LTV. In comes the VA Jumbo to the rescue. Since the San Diego County VA Loan Limit is $593,750, and you have some equity in your home, we can combine the first mortgage and the second mortgage into one VA Jumbo Loan, and you have sufficient entitlement and equity to meet the base guideline of 25% guarantee. Problem solved.
Scenario 4. You live in San Diego, your home is worth $1 Million. You have a first mortgage owing $860K. The conforming Jumbo limit is $697,500 in San Diego, so that won't help. The FHA loan loan limit in San Diego County is also $697,500, not helping either. A conventional jumbo loan will require atleast 20% equity in your home. This won't work either, you are at 85.33% LTV. In comes the VA Jumbo to the rescue. Since the San Diego County VA Loan Limit is $593,750, and you have some equity in your home, we can combine the first mortgage and the second mortgage into one VA Jumbo Loan for as much as $900K, since you have sufficient entitlement and equity to meet the base guideline of 25% guarantee. Problem solved.
VanDyk Mortgage is a Proud VA Direct Lender. VanDyk Mortgage has been making FHA & VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar direct at 760-752-4480 for help with your VA or FHA loan.
We are your VA Jumbo Direct Lender and FHA Jumbo Direct Lender and we offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Jumbo Streamline refinance, FHA Jumbo Purchase, FHA Streamline, VA, VA Streamline, VA Jumbo purchase, VA Jumbo Refinance, VA Cashout refinance, FHA Rehab 203K, VA, Conforming & Jumbo Loans.
VA Jumbo Refinance loans offer solutions conventional loans don't allow.
This may sound a little backwards from what you have seen or heard in the past about VA Loans, specifically VA Refinance Loans. VA now allows higher loan amounts up to $1,094,625, and VanDyk Mortgage offers these throughout California, Washington, Texas, Georgia, & our other states.
Conventional Loans require more equity for Jumbo loan amounts over $417,000 for both rate/term refinance and cash out refinance than VA requirements. True Jumbo Conventional Loans require at least 20% equity in your home for refinance, more if you want cash out. VA allows Refinances up to 90% of your homes value in both cases, VA Refinance, and VA Cash-out refinance. There are a couple examples below of how VA Jumbo Loans can help Jumbo Borrowers who are Veterans or Active Duty Military Personnel.
Scenario 1. Your home is worth $1m, and you live in San Francisco. You have a ARM loan and owe $860,000. Conventional loans require more equity, at least 20%, this scenario only has 14% equity, so the bank tells you no. In comes the VA Jumbo loan to the rescue. Since the county limit is $1094625 in San Francisco, and you have 10% equity in your home, we can offer you a VA Jumbo Loan can refinance this loan up to $900K. The VA jumbo loans are typically a 30 year fixed rate, and never a prepayment penalty. Problem Solved!
Scenario 2. You live in Los Angeles, your home is worth $900K, and you owe $790K on your current loan, which is adjusting. You want to get a fixed rate while the rates are good. You call the big bank. They tell you that you don't have enough equity in your home to refinance, you only have 12% equity, far below their 20% requirement. Once again, the VA Jumbo comes to the rescue for Veterans. Since the county limit is $737,500 for a Los Angeles VA Loan, and VanDyk allows VA loans over the county limit with an appropriate combination of entitlement and equity, we are able to offer you a new VA Jumbo 30 yr Fixed rate mortgage for this scenario. The new loan can be up to $810K, or 90% of the appraised value with your new Jumbo VA loan. Problem solved.
There are many more situations and scenarios that VA Loans can help whereas conventional loans may not. Please don't hesitate to contact us if you think your VA Benefit could help you, with a Refinance or Purchase of a home.
These examples show some of the ways that a VA Jumbo Loan can help, and in ways that many lenders don't offer. VanDyk Mortgage offers VA Jumbo Loans up to $1094625 in all areas that we service. Many VA Lenders limit VA Loans to the county limit for your area, or a max of $650K, VanDyk is not contained to these limits. Even in areas with a lower VA Loan Limit, we still offer the VA Loan up to $1094625, as long as there is a sufficient combination of entitlement and equity to meet the guideline of 25%.
You do need good credit for VA jumbo loans, and must be able to fully document your income, but that should come as no surprise in today's lending world.
VanDyk Mortgage is a Proud VA Direct Lender. VanDyk Mortgage has been making FHA & VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar direct at 760-752-4480 for help with your VA or FHA loan.
We are your VA Jumbo Direct Lender and FHA Jumbo Direct Lender and we offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Jumbo Streamline refinance, FHA Jumbo Purchase, FHA Streamline, VA, VA Streamline, VA Jumbo purchase, VA Jumbo Refinance, VA Cashout refinance, FHA Rehab 203K, VA, Conforming & Jumbo Loans.
The loan limit extension for 2010 that was approved by congress today for FHA & GSE backed loans (Freddie 7 Fannie) will also help VA Borrowers in higher cost areas. VA Limits are based on the approved loan limits for FHA & GSE loans, so we don't anticipate any changes to VA Loan limits for 2010 based on today's legislation. Here is a post that covers the new 2010 loan limit news & information.
We offer VA Jumbo Loans for Purchase, Refinance, and Cash-out Refinance. VanDyk Mortgage is a VA Direct Lender (since 1987) offering VA Loans such as VA purchase loans, VA Streamline Refinance, VA IRRRL, VA Refinance Loans, VA Mortgages of all types.
As a Government Direct Lender, VanDyk Mortgage is also a HUD Full Eagle FHA Direct Endorsement Underwriter, ie FHA Direct Lender offering FHA Loans such as FHA Purchase loans, FHA Refinance, FHA Streamline Refinance, FHA 203K Streamline Rehab loans, FHA Jumbo, FHA Jumbo Purchase, FHA Jumbo Refinance, FHA Jumbo Streamline Refinance, FHA mortgages of all types. We offer FHA & VA loans in California, Georgia, Texas, Washington, & More. Visit us at http://www.vandykfunding.com/ to get started or just find out more.
Congress Approves higher Loan Limit Extension through 2010
Today, Congress approved an extension of higher loan limits for FNMA, FHLMC, and FHA (Fannie Mae, Freddie Mac & FHA) that will extend the current loan limits in place for 2009 to the end of 2010. This will help avoid any disruption in the mortgage market as the housing sector tries to recover.
The loan limits for your area can be found by clicking on the following links:
VanDyk Mortgage offers FHA Jumbo, Conventional Jumbo (Fannie & Freddie), and VA Jumbo loans in all areas that we service.
The extended 2009/2010 FHA loan limits return the high end to $729,750 in higher cost counties such as Los Angeles, Santa Clara, San Francisco, Orange County, and more. San Diego County remains at a max 2009 FHA Loan Limit of $697,500 for a single family residence.
VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. VanDyk Mortgage is also a Proud VA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar at 760-752-4480 for help with your FHA loan.We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Jumbo Streamline refinance, FHA Jumbo Purchase, FHA Streamline, VA, VA Streamline, VA Jumbo purchase, VA Jumbo Refinance, VA Cashout refinance, FHA Rehab 203K, VA, Conforming & Jumbo Loans.
We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, CA, WA, GA, FL, MO, MI, TX, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County. VanDyk Mortgage is your FHA Lender & VA Lender of choice.
The Home Ownership Accelerator is back! (aka the HOA).
We are proud to announce that we are again offering the Home Ownership Accelerator loan (HOA).
One of the unfortunate casualties of the Mortgage Meltdown was the Home Ownership Accelerator loan program. This loan program allowed USA homeowners the power to utilize interest saving techniques used in Australia & much of Europe to pay off their Home Mortgage Early without paying any extra money each month. The Program has helped thousands of US homeowners speed up their loan payoff by years while maintaining their current lifestyle and no reduction in available spending money.
The program was a victim of the credit crunch and was halted in the summer of 2008, as Secondary loan markets were cut off for non vanilla loan types. These are not risky loans. In fact, when paired with Responsible Homeowners with financial discipline, these are a fantastic wealth builder. Unfortunately, the emotions of Wall Street froze the product for most of 2008 & 2009.
We are proud to announce that the Home Ownership Accelerator is back, and VanDyk Mortgage has been chosen to be an exclusive Lender Partner for the re-introduction of the Home Ownership Accelerator program. This product won't be available to all Lenders and Brokerages this time around. VanDyk Mortgage was selected as an exclusing partner for the HOA due to our strong track record in origination of quality loans properly matched to clients for the best fit, affordability, and sustainability.
If you would like to find out if the HOA or Home Ownership Accelerator is right for you, or would like to get started on your HOA, send an email to us at HOA@vandykfunding.com or call Brian Skaar at 760-752-4480.
VanDyk Mortgage is proud to announce that we offer VA Loans for Borrowers with fico scores as low as 600.
Many VA Lenders have begun to require minimum Fico scores for VA Loans of 640 in recent months. This is not due to changes in the VA Loan Program, or mandates from the Veterans Administration (who oversees the VA Loan program), these are individual Lender requirements from many of the big banks & lenders (yes, the same ones we all bailed out with our Tax Dollars).
VanDyk Mortgage is proud to announce that we have VA Loans available for Borrowers with fico's as low as 600. These are available for VA Purchase, VA Refinance, or VA Cash out. Many home buyers begin the home buying process with an acceptable score for their lender such as 642, then find after the arduous homebuying process with Short Sales and REO Bank owned properties that their score has fallen below 640, and their lender can no longer help. Call us immediately in this situation, we may be able to help.
We are able to offer this program for two reasons. First, this loan will not be immediately sold in the secondary market, so it is not subject to the additional underwriting and qualification requirements that other banks require. Second, we will underwrite all of these loans manually, not rely on automated systems.
Please keep in mind that all loans are subject to minimum qualification requirements, and that this is not an offer to lend.
VanDyk Mortgage has been making FHA & VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. VanDyk Mortgage is also a Proud VA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar direct at 760-752-4480 for help with your VA or FHA loan.
We are your VA Jumbo Direct Lender and FHA Jumbo Direct Lender and we offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Jumbo Streamline refinance, FHA Jumbo Purchase, FHA Streamline, VA, VA Streamline, VA Jumbo purchase, VA Jumbo Refinance, VA Cashout refinance, FHA Rehab 203K, VA, Conforming & Jumbo Loans.
We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, CA, WA, GA, FL, MO, MI, TX, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Oakland, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, Sacramento, Stockton, Bakersfield, Fresno, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County. VanDyk Mortgage is your FHA Lender & VA Lender of choice.
VanDyk Mortgage offers VA Jumbo Loans up to $1,094,625 in all areas that we service. Many other VA Jumbo Lenders cap their VA loans at $417,000, or $650,000. We offer VA Jumbo Loans up to the full county limit for your area, and even go above the county limit when there is sufficient down payment and entitlement to reach your minimum 25% guarantee for the loan. Here is another post that covers that subject: The VA 417K myth. VA Jumbo's are the best way to purchase a million dollar home with less than 20% down payment in many California counties and areas. Call to find out how much downpayment you will need for your home purchase - 760-752-4480, ask for Brian Skaar.
We offer VA Jumbo Loans for Purchase, Refinance, and Cash-out Refinance.
VanDyk Mortgage is a VA Direct Lender (since 1987) offering VA Loans such as VA purchase loans, VA Streamline Refinance, VA IRRRL, VA Refinance Loans, VA Mortgages of all types. As a Government Direct Lender, VanDyk Mortgage is also a HUD Full Eagle FHA Direct Endorsement Underwriter, ie FHA Direct Lender offering FHA Loans such as FHA Purchase loans, FHA Refinance, FHA Streamline Refinance, FHA 203K Streamline Rehab loans, FHA Jumbo, FHA Jumbo Purchase, FHA Jumbo Refinance, FHA Jumbo Streamline Refinance, FHA mortgages of all types. We offer FHA & VA loans in California, Georgia, Texas, Washington, & More. Visit us at www.vandykfunding.com to get started or just find out more.
VanDyk Mortgage is proud to announce that we offer FHA Loans for Borrowers with fico scores as low as 580.
Many FHA Lenders have begun to require minimum Fico scores for FHA Loans of 640 in recent months. This is not due to changes in the FHA Loan Program, or mandates from HUD (who oversees the FHA program), these are individual Lender requirements from many of the big banks (yes, the same ones we all bailed out with our Tax Dollars).
VanDyk Mortgage is proud to announce that we have FHA Loans available for Borrowers with fico's as low as 580. These are available for FHA Purchase, FHA Refinance, or FHA Cash out. Many home buyers begin the home buying process with an acceptable score for their lender such as 642, then find after the arduous homebuying process with Short Sales and REO Bank owned properties that their score has fallen below 620, and their lender can no longer help. Call us immediately in this situation, we may be able to help.
We are able to offer this program for two reasons. First, this loan will not be sold in the secondary market, so it is not subject to the additional requirements that other banks require. Second, we will underwrite all of these loans manually, not rely on automated systems.
Please keep in mind that all loans are subject to minimum qualification requirements, and that this is not an offer to lend.
VanDyk Mortgage has been making FHA & VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. VanDyk Mortgage is also a Proud VA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar direct at 760-752-4480 for help with your VA or FHA loan.
We are your VA Jumbo Direct Lender and FHA Jumbo Direct Lender and we offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Jumbo Streamline refinance, FHA Jumbo Purchase, FHA Streamline, VA, VA Streamline, VA Jumbo purchase, VA Jumbo Refinance, VA Cashout refinance, FHA Rehab 203K, VA, Conforming & Jumbo Loans.
We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, CA, WA, GA, FL, MO, MI, TX, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Oakland, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, Sacramento, Stockton, Bakersfield, Fresno, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County. VanDyk Mortgage is your FHA Lender & VA Lender of choice.
VA Streamline Refinance aka VA IRRRL loans still available without Appraisal
Many VA lenders have recently begun to require property appraisals for VA Streamline Refinances (AKA VA IRRRL or VA Interest Rate Reduction Refinance Loan). The US Agency that oversees the VA Loan program, the US Department of Veterans Affairs, has not instituted this requirement. This is a requirement of individual Lenders/Banks.
VanDyk Mortgage still offers VA IRRRL loans without the appraisal requirement. VanDyk Mortgage offers the VA Streamline Refinance in California, Washington, Georgia, Texas & all other states we serve.
The VA IRRRL Streamline Refinance is designed to allow our Veterans and Active Duty Military Members the opportunity to lower their housing payments without being subject to typical refinance requirements such as Appraisal, income verification, asset verification, and credit history. We do require that you have made your housing payments on-time for the last 12 months. We do not require appraisals for VA Streamline Refinances.
VanDyk Mortgage is a VA Direct Lender (since 1987) offering VA Loans such as VA purchase loans, VA Streamline Refinance, VA IRRRL, VA Refinance Loans, VA Cashout Refinance, VA Jumbo purchase loans, VA Jumbo Refinance Loans, VA Jumbo Streamline Refinance loans, VA Jumbo IRRRL , VA Jumbo Cashout Refinance, VA Mortgages of all types.
As a Government Direct Lender, VanDyk Mortgage is also a HUD Full Eagle FHA Direct Endorsement Underwriter, ie FHA Direct Lender offering FHA Loans such as FHA Purchase loans, FHA Refinance, FHA Streamline Refinance, FHA 203K Streamline Rehab loans, FHA Jumbo, FHA Jumbo Purchase, FHA Jumbo Refinance, FHA Jumbo Streamline Refinance, FHA mortgages of all types. We offer FHA & VA loans in California, Georgia, Texas, Washington, & More. Visit the VA Experts with VanDyk Mortgage at http://www.vandykfunding.com/ to get started or just find out more.
VA Streamline Refinance - No Appraisal required - VA IRRRL loan - No Appraisal required
Brian's Blog includes topics on Mortgage Lending, FHA loans, VA Loans, changes in lending guidelines, San Diego & Southern California Real Estate, Seattle Real Estate, Credit management, debt abatement, and more
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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