Brian's Blog

VA IRRRL Refinance still available without appraisal or credit scores

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 01 Nov 2009 13:53:20 -0600

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

VA Jumbo Refinance loans offer solutions conventional loans don't allow pt2

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sat, 31 Oct 2009 14:43:39 -0500

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 pt 1

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sat, 31 Oct 2009 14:18:23 -0500

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.

Here is a recent post regarding the new VA Loan Limits 2010.

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.

Higher Loan Limit extension will help higher VA Loan Limits too

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Fri, 30 Oct 2009 14:23:35 -0500

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

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Fri, 30 Oct 2009 13:55:24 -0500

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:

FHA Loan Limits for high cost counties

Fannie & Freddie Loan Limits for high cost counties

VA Loan limits for high cost counties

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.

Click here to access the revised 2009 FHA Loan limits for your county.

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

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 25 Oct 2009 11:27:17 -0500

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.

VA Home Loans with Fico's as low as 600 still available

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 25 Oct 2009 11:18:34 -0500

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 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 Jumbo Loans available up to $1,094,625

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 25 Oct 2009 11:01:18 -0500

VA Jumbo Loans available up to $1,094,625.

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.

FHA loans still available with Fico's as low as 580

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 25 Oct 2009 10:46:52 -0500

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.

VA Streamline Refinance - No Appraisal required - aka VA IRRRL loan - No Appraisal required

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 11 Oct 2009 14:39:32 -0500

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

VA Myth - VA loans are only available to $417K

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 26 Apr 2009 13:02:49 -0500

A common myth with VA Loans is that they don't work for your area, or the loan amounts are too low for your area. In the past this was true, but recent changes have changed the picture. Please see our VA Loan Limits page for details on your county limits.

The loan limits above $417,000 are called VA Jumbo Loans. While many counties in the country are limited to the $417,000 amount, that isn't the highest VA loan available for that county.

VanDyk Mortgage offers VA loans up to $1,094,625 in all the states we serve. What changes is the amount of required home equity or down payment. Each case is unique.

In counties where the loan limit is lower than your purchase price or refinance loan amount, you may have to have equity (for a VA Jumbo refinance) or put a down payment (for a VA Jumbo Purchase).

So what is the benefit of using a VA loan in this scenario? - Lower down payments than conventional alternatives, fixed rates, no Mortgage Insurance. Let's say you live in a county where the VA loan limit is $417,000 (such as Riverside or San Bernardino counties in California). You want to purchase a home that is $450,000 with a little of down payment possible. Assume that you have full VA eligibility & fully restored Entitlement. VanDyk Mortgage will allow a VA loan in this scenario up to $441,750, requiring just $8,250 down payment, or 1.83%.

The goal of the VA calculation is the reach a guarantee figure of 25% of the loan amount. This can be a combination of the Entitlement and a down payment.

Here is the math to figure this out:

1. Take your county loan limit (in this case $417,000) and multiply times 25% to reach your maximum entitlement and guaranty available ($417,000 x .25 = $104,250)

2. Take your purchase price and multiply times the minimum guaranty required. ($450,000 X .25 = $112,500) ** since this figure is higher than your maximum guaranty and entitlement from #1, we must now figure out how to handle the shortage.

3. Take #2, the Minimum required guaranty ($112,500) and subtract the available guaranty and entitlement for you ($104,250) and it yields us $8,250.

$8,250 represents the required down payment for purchasing a $450,000 property in a county with a VA loan limit of $417,000 for a Veteran or Active Duty Service Member with full Entitlement available. $8,250 is a 1.83% down payment. Now that is a huge benefit for our Veterans.

This is far superior to the conventional loan alternatives or even FHA loans. So if your bank tells you that you need to put down 10% for a conventional loan, Call VanDyk Mortgage and go with a VA loan instead. You will be glad you called.

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 Jumbo purchase loans, VA Jumbo Refinance Loans, VA Jumbo Streamline Refinance loans, VA Jumbo IRRRL , 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.

VA loans fast becoming the best choice for Vets to Refinance & purchase homes

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 26 Apr 2009 12:13:21 -0500

VA loans are fast becoming the best choice for Vets to Refinance and purchase their homes.

Recent enhancements to VA guidelines now allow Veterans and Active Duty Military to refinance out of Conventional, Jumbo, Sub-Prime, Alt-A, Option ARM, and other non VA loans into Safe fixed rate VA Loans. (see our recent post on VA loan changes here).

The old VA Limit for these refinances was $144000, regardless of where you lived and your county loan limit. 2009 brought changes to both the VA Loan limits and the way VA calculates your eligibility for Guarantee. If you have full elibility (or fully restored entitlement) you can purchase or refinance up to the full Loan Limit for your county (of course, other qualifications do apply such as property value, income, liabilities, etc).

Here is a list of all the counties in California that exceed the $417,000 standard VA loan limit:

ALAMEDA $1,094,625, ALPINE $503,750, CONTRA COSTA $1,094,625, EL DORADO $516,250, LOS ANGELES $737,500, MARIN $1,094,625, MONO $575,000,
MONTEREY $525,000, NAPA $643,750, NEVADA $518,750, ORANGE $737,500, PLACER $516,250, SACRAMENTO $516,250, SAN BENITO $ 937,500, SAN DIEGO $593,750, SAN FRANCISCO $1,094,625, SAN LUIS OBISPO $610,000, SAN MATEO $1,094,625, SANTA BARBARA $656,250, SANTA CLARA $937,500, SANTA CRUZ $805,000, SOLANO $435,000, SONOMA $566,250, VENTURA $650,000, all other California counties are capped at $417K.

FHA Jumbo Refinance, FHA Jumbo Purchase loans & FHA Jumbo Streamline Refinance loans - California

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 26 Apr 2009 11:53:34 -0500

FHA Jumbo Refinance, FHA Jumbo Purchase loans & FHA Jumbo Streamline Refinance loans for California Homeowners and Homebuyers.

We are continuing to see the FHA Jumbo Refinance become a more common option for California Homeowners. This is in large part due to the affordability, safety, and security that the FHA Loan offiers.

This loan allows you to refinance your first mortgage into a Safe, Fixed Rate FHA Loan at terms that are typically more favorable than conventional lending options. If your home has come down in value, the FHA option may still be able to help you refinance out of your Adjustable rate loan. FHA requires less equity in your home than Conventional loans.

FHA Jumbo Loans are loans that are $417,001 up to your county's Mortgage limit. For example, in California, the FHA Jumbo Loan limit is $697,500 for San Diego, $729,750 for Los Angeles, $729,750 for Orange County, $729,750 for Ventura, Santa Clara, San Francisco, Santa Cruz, Contra Costa, Alameda, & Napa counties, and San Bernardino & Riverside counties are eligible up to $500,000.

VanDyk Mortgage is able to help with FHA Jumbo Loans for the purchase of your new home. Please visit our 2009 FHA Loan Limit page for details on your county. These loans require just 3.5% downpayment. Call for details to see if it could be your best choice.

FHA Jumbo Streamline Refinances with VanDyk Mortgage do not have a minimum time requirement since you purchased your home (or last refinanced). These can save you hundreds per month with no appraisal or income qualifying. We do require a good mortgage payment history.

FHA Jumbo Refinances are available to help: Consolidate debts, Consolidate a first & second mortgage, or Refinance your Non-FHA loan into a Safe FHA fixed rate loan. Call the Government Loan Experts at VanDyk Mortgage today at 866-900-2342. http://www.vandykfunding.com/

VA Loans - Converting your Present home into a rental

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 15 Mar 2009 01:17:14 -0500

VA Loans - Converting your Present home into a rental home and buying a new primary home.

Many loan programs have limitations on qualification when converting an existing primary residence into a Rental when purchasing a new primary home. Some of the restrictions include:

Must qualify for both mortgages with current income, with no credit for new Rent Income.
Increased Asset Reserve requirements (6-12 months PITI reserves for both properties)

VanDyk Mortgage allows you to Purchase a new Home with a VA Loan (for eligible Vets & Active Duty Service Members), convert your current primary residence into a Rental, and use the new Rental Income to help you qualify.

***No additional reserve requirements.

***Qualify with a new Rental income on converted residence.

This opens the doors for thousands of Veterans to Reinvest in the US Housing market.

If you would like to Purchase a home with a VA loan the new 2009 VA loan limits go as high as $1,094,625 in some counties. To find out the loan limit for your county, click here. Call the Government Loan Experts at VanDyk Mortgage today at 866-900-2342. www.vandykfunding.com

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 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.

90% no MI - Investment property purchase loans- California

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 15 Mar 2009 00:55:56 -0500

90% no MI - Investment property purchase loan - California Just 10% down payment.

Yes, 10% down, no MI. This is for real. In our last post on our innovative new "Fannie Foreclosure Mover Loan" I forgot to mention that this program is available to Investors! Investors can purchase select homes owned by Fannie Mae with just 10% down. Even in California, Florida, and other Declining markets. Even better, the Fico Minimums are reasonable, 660 for loans under $417K. This program even allows ficos down to 580 with 20% downpayment. This is a great loan product for Non Owner Occupied purchases.

For loans over $417,000 up to the current 2009 county loan limit for your area these require just 15% down payment with a 660 Fico (85% ltv).

Please remember you have to fully document your income and have adequate liquid assets for reserves (6 months of payments). Please check out our post on maximum number of properties financed for more Investment Property loan information.

Contact us at 760-752-4480 or visit us online at www.vandykfunding.com to get started. We are offering the Fannie Foreclosure Mover loans in California, Florida, Georgia, Washington, Texas, New Mexico, Los Angeles, San Francisco, San Jose, Orange County, San Diego, Santa Clara, Oakland, & all other cities within our lending area.

95% conventional financing in California - NO MI!

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 15 Mar 2009 00:38:30 -0500

We now offer 95% financing in California with no MI on select homes.

When you purchase a Fannie Mae Owned Foreclosure Property, you may be eligible for our new Fannie Foreclosure Mover Loan. This new loan allows you to finance up to 95% of the Purchase price with ZERO Mortgage Insurance (MI).

Loan amounts up to $417K are eligible up to 95%.

This is even available in California and Florida with these terms.

There are no Declining Market restrictions on this loan program.

We also offer these for the High Balance or Conforming Jumbo Loan sizes up to 90% of the purchase price of the home. This would help homebuyers looking at Fannie Mae properties in Los Angeles with loans up to $729,750, San Jose up to $729,750, San Francisco up to $729,750, San Diego up to $697,500. For more details on the higher 2009 loan limits just released, click here.

Call today: 760-752-4480 - Brian Skaar - VanDyk Mortgage - Direct Lenders - Direct Savings.

We offer this program in all of our loan markets: California, San Diego, San Marcos, 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, Long beach, 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.

Good News: We now allow you to have up to 10 financed Properties!

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 15 Mar 2009 00:11:24 -0500

Good News: New Rules for those with Multiple financed properties - We now allow you to have up to 10 financed Properties!

You can get new financing on your Primary Home, Second Home or Investment property now (NOO). For many Real Estate Investors, the past couple of years have been difficult. Especially due to the GSE's rule that you can only have 4 financed properties maximum.

I must repeat the Good News: We now allow you to have up to 10 financed Properties!

We have some new changes with our loan programs this month that may be able to help you out with this situation. The new rules allow you to own up to 10 financed properties (no limit on total properties, just financed properties).

There are some additional guideline hoops to jump through to qualify:

If the property being financed is your primary home, we have no limit on the total number of properties financed.

Fico score - must be 720+ mid score.

All of these loans must be Full Income Documentation. No exceptions.

You do need to have 6 months of PITI payments in liquid/cash reserves for all financed properties. For example if you have 3 properties with a monthly PITI of $2000 each, you would need to have 6 months x $2000 x 3 properties or $36,000 in cash/liquid reserves.

For help with this loan or other Multiple property loan scenarios, give me a call at 866-900-2342 toll free, ask for Brian Skaar. Or apply via our website at www.vandykfunding.com.

These loans are available up to the 2009 Loan limits for your area. Check out the new 2009 loan limits here. We offer financing in many states including: California, Texas, Georgia, Florida, & many more. VanDyk Mortgage is a Direct Lender offering conventional, FHA, VA, USDA, & Jumbo loans.

Revised 2009 FHA Loan Limits

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 08 Mar 2009 23:58:30 -0500

With the recent Stimulus bill passed in Congress & the Senate were provisions to return the FHA Loan Limits back to the higher levels of 2008. These higher loan limits are available immediately with VanDyk Mortgage for our FHA Jumbo Purchase Loans, FHA Jumbo Refinance loans, FHA Jumbo Streamline Refinance loans, and FHA Cash out Refinance Loans.

The revised 2009 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 returns to a max 2009 FHA Loan Limit of $697,500. Some of the big banks are not offering these revised loan limits yet, but VanDyk Mortgage is offering the revised 2009 Loan Limits effective immediately.

Click here to access the revised 2009 FHA Loan limits for your county.

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.

FHA Myth #5 - FHA Streamline Refinances

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 08 Feb 2009 17:39:48 -0600

FHA Myth #5 - FHA Streamline Refinances have to be with the same lender who currenly has your loan.

Wrong. FHA makes no distinction here. You can get your FHA Streamline Refinance with your current lender or a new lender (such as VanDyk Mortgage).

Won't my current lender waive fees & points to keep my loan? Sure sounds logical, doesn't it? But fact is Banks just don't offer these incentives anymore. (bank waiving fees to keep your business). Since most loans (OK, virtually all loans) are actually sold in some manner or form shortly after they are made, this makes this point harder to define. So why would the current bank waive or reduce fees to keep your loan during a FHA Streamlne Refinance? To make more profit on your new loan, since they are not protecting the current asset. The Bank will make their money somehow to cover the inevitable fees incurred to process & close your new loan. In fact the days of the No Point/ No Fee loan are now gone, mostly due to banks holding more profit in each transaction. The bank used to offer no point / no fee loans for a slightly higher rate, paying the cost of those waived fees from the additional profit. These types of loans are virtually impossible to find in today's tight money environment. We have cheap Money (low rates) but it is tight, as it isn't easy to get the money.

Why should I use VanDyk Mortgage to process my Streamline Refinance? VanDyk Mortgage offers FHA experience, competitive rates (VERY competitive), and we have multiple investor partners with which to place your new FHA Loan. We are a FHA Direct lender + we also Broker FHA Loans when necessary. This gives us access to the best rates in the market daily (plus any guideline variations between investors). We have been making FHA Loans since 1987, and know how to make it work. We are up to date on the latest FHA lending guidelines, uses of FHA loans, and are able to offer solutions that other banks do not.

VanDyk Mortgage will allow you to refinance your FHA Loan via the FHA Streamline Refinance even if your loan balance exceeds the new 2009 FHA Loan limits for your area.

Here are a couple of articles I have written regarding FHA Streamline Refinances:

FHA Streamline Refinance - Minimum Time elapsed since Home Purchase

FHA Streamline Refinances & FHA Jumbo Streamline Refinances above the 2009 FHA Loan Limits

The FHA Streamline Refi is available for FHA, FHA Jumbo Size loans, FHA Secure loans, and FHA 203K loans (if work is complete). For FHA Streamline Refinance Loans and VA Streamline Refinance (IRRRL) loans call the Government loan experts at VanDyk Mortgage - 866-900-2342 or apply now at http://www.vandykfunding.com/. VanDyk Mortgage is your FHA Lender & VA Lender of choice.

VanDyk Mortgage has been making FHA loans & VA Loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter, FHA Direct Lender, & 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 Streamline, FHA purchase loan, VA purchase loan, or VA Streamline. We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, VA Jumbo, 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, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, and every other city in California, Georgia, Texas, Florida & Washington, CA, WA, GA, FL, MO, MI, TX.

Stimulus plan includes increased Tax Credit for Home Buyers

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 08 Feb 2009 17:16:13 -0600

The 2009 Stimulus bill being considered in the Senate and House this week includes a new Tax Incentive for Home Buyers of $15,000. Wow, that is alot of money! This is a Tax Credit, not a Tax deduction - Translated - a check from Uncle Sam for $15K. I have heard differing news as to whether this is for First Time Homebuyers only (those who haven't owned a home in the past 3 years), or if it is open to all home buyers. I think the opportunity is incredible, especially when coupled with the bargain basement prices for Homes & Condo's in California & Florida. We will post more facts as we are able to verify the actual Legislation Language included in the Stimulus bill.

Jumbo Loan program Update

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 08 Feb 2009 17:11:29 -0600

VanDyk Mortgage is proud to introduce our new Jumbo Loan Programs. We call it our Premier Jumbo Line.

Here are the basics:

> Available in 3yr ARM, 5 yr ARM, or 7 yr ARM (+ 15 yr fixed).

> Principal & Interest or Interest Only (10 yr period)

> Loan to Value ratios up to 80% (70% in declining markets, call for details on your market status)

> Loan amounts up to $2 million

> Competitive rates, similar to Conforming Jumbo Rates (unlike most Jumbo programs that are well over 8-9%, these are typically under 6.5% and sometimes even lower)

> Full Income & Asset Documentation is required.

We can beat virtually all major banks on loans over $625,500. This loan product isn't available at Countrywide, Bank Of America, Chase, Citi, Wells Fargo, or Suntrust. You can only find it at VanDyk Mortgage.

Get out of your Option ARM before the index rises back up or your payment recasts into fully amortized (usually after 5 years).

VanDyk Mortgage - Call Brian Skaar - 760-752-4480 or online at www.vandykfunding.com

VanDyk Mortgage is FHA & VA Direct Lender.

VA Home Loans - Refinance up to 100% of your current value

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 08 Feb 2009 16:04:06 -0600

The Headline is Correct: VA now allows 100% cash out refinances up the VA Loan Limit for your area.

VA refinances are no longer capped at 90% of your current appraised value. This change will allow Veterans, Active Duty Members & Reservists the option to refinance their non VA loans into safe, secure, fixed rate VA Loans. VA Loans have no MI or Mortgage Insurance.

Even better news: The previous limit of $144,000 on VA refinances has been lifted, and the limit is now the VA Loan limit for your county. Click here to see your limit: New VA loan limits for 2009 Blog Post .

The Entitlement, Eligibility and Guarantee equations have been adjusted slightly as well to facilitate Refinances over $144K as well. We are very excited about the enhanced possibilities for our Veterans.

Please call Brian Skaar at 760-752-4480 or visit us online at www.vandykfunding.com to find out more.

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 Jumbo Purchase loans, VA Jumbo 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 has been making FHA 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 www.vandykfunding.com or call Brian Skaar at 760-752-4480 for help with your FHA Streamline or FHA purchase loan. We offer FHA, FHA Jumbo, FHA Manual Underwrite, 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, CA, WA, GA, FL, MO, MI, TX, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, and every other city in California.

VanDyk Mortgage is your FHA Lender & VA Lender of choice.

2009 VA refinance rules help Veterans & Active Duty Service members out of ARM loans

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 08 Feb 2009 15:57:00 -0600

New VA rules for 2009 have created better Refinance options for US Vets & Active Duty Service Members. The new VA rules allow Vets & Active Duty Service Members to refinance their non VA home loans into safe, secure VA Fixed Rate Home Loans up to 100% of their homes appraised value. This new program can help thousands of USA Vets & Active Duty Service Members to save their homes, protect their financial future, and start building wealth for the future.

If you need to Refinance your Non-VA home loan, the new VA Refinance offers you the best option for affordability, and it is very reasonable to qualify. The former limit for this type of transaction was 90% of the home's value and $144,000. It is now 100% of your home's value and the loan limits go as high as $1,094,625 in some counties. To find out the VA loan limit for your county, click here.

Our VA Home Loans are safe 30 year fixed rate loans with no Mortgage Insurance. VA Funding Fees may apply, ask us to calculate yours. We can also request your Certificate of Eligibility quickly online direct from VA for you.

Call the Government Loan Experts at VanDyk Mortgage today at 866-900-2342. www.VanDykFunding.com.

We serve the following areas for VA, FHA and Conventional loans: California, San Diego, San Marcos, 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.

The return of the Home ownership accelerator HOA

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 08 Feb 2009 15:51:21 -0600

** this is an update on the reintroduction of the Home Ownership Accelerator (the HOA) We are still expecting this loan to be available in the first quarter of this year, stay tuned

The program was a victim of the credit crunch and was halted this past summer, 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.

We are proud to announce that the Home Ownership Accelerator coming back soon, 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 be notified when the HOA or Home Ownership Accelerator is available again, send an email to us at HOA@vandykfunding.com or call Brian Skaar at 760-752-4480.

FHA Loans- second appraisals - 2009 guidelines - Update

VanDyk Mortgage - FHA & VA Direct Lenders since 1987 — Sun, 08 Feb 2009 15:43:23 -0600

New for 2009 with FHA Jumbo Loans are some changes to the second appraisal requirements for FHA Jumbo Loans.

For FHA Jumbo loans the threshold for loans that require a second appraisal was those loans over $362,800 in 2008. The new Threshold for 2009 is $417,000. All FHA Loans $417,001 and above will require the second appraisal in 2009. This holds true for FHA Jumbo Purchase Loans, FHA Jumbo Refinance Loans, and non-credit qualifying FHA Jumbo Streamline Refinance loans. FHA Jumbo Streamline Refinance loans are available with NO appraisal required as long as we credit qualify the loan.

FHA Cash out Refinances over 85% LTV also require a second appraisal, regardless of Loan amount.

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. 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. 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 now allows you to resubordinate (keep in place) your existing second mortgage when refinancing your first mortgage, allowing you to exceed the FHA Statutory Loan Limit to Value guidelines. IE only your first mortgage must fall within the FHA limits.

No Appraisal is Required with our FHA Jumbo Streamline Refinance. These are even available with Loan amounts that exceed the new 2009 FHA loan limit, yet fall within the old 2008 FHA loan limit.