Using your VA Home Loan Benefit in San Francisco -part 2 - refinance your home with a VA Loan

Using your VA Home Loan Benefit in San Francisco -part 2 - refinance your home with a VA Loan

The VA Home Loan benefit is a great opportunity for San Francisco  Veterans and Active Duty Military to refinance a San Francisco home or San Francisco condo.   We thought it would be a good idea to quickly review the benefits of VA Loans for our San Francisco Veterans, and a few ways to use them to your benefit. 

Check out the 2011 updates for San Francisco VA Loans here.

VA Loans require zero downpayment up to $962,500 in San Francisco. 

• VA Refinance Loans - available up to 90% of your homes value
• VA Jumbo Refinance Loans  - also available up to 90% of your homes value with corresponding amount of home equity.  these are also know as VA High Balance loans.
• VA IRRRL Streamline Refinance Loans  - Refinance into a lower rate with reduced documentation requirements, up to $1.5M in San Jose.

However,Veterans are not limited to the San Francisco Loan limit of $962,500 for VA Loans.   We offer VA Jumbo Loans up to $1.5 Million with the appropriate downpayment or equity to reach the VA Guarantee requirements of 25% of the loan amount.  Here is one of our posts on how you can get a VanDyk Mortgage VA Loan over your county limit.

Here are a few ways to use your VA home loan Benefit in San Francisco to refinance a home: 

1. VA Jumbo Loan to Refinance a home up to a $962,500 loan amount with no MI required.
2. VA Jumbo Loan to refinance a Condo in San Francisco - up to $962,500 loan amount no MI required.
3. VA Jumbo Loan to Refinance a $1,000,000 home in San Francisco with a loan amount up to $900K with no MI
4. VA Jumbo Loan to Refinance a $1.5M home in San Francisco with a loan amount up to $1,350K with no MI
5. Refinance your current VA Loan or VA Jumbo Loan using the VA IRRRL Streamline Refinance - Market rates are the lowest on record - Call for today's rates, they will surprise you. 
6. Use a VA refinance to refinance out of an Adjustable Rate Mortgage - Up to 90% loan to value - with zero Mortgage Insurance required. 
7. Use a VA refinance to consolidate your first and second mortgage with no extra charge to interest.   This consolidation is considered Cash Out for Conforming Loans and has additional restrictions,  VA Allows this up to 90% LTV. 
8. Use the VA Jumbo Loan to take advantage of the lowest 30 year fixed rates on Record (call for actual rates, they will shock you).   Available up to $1.5M in Los Angeles with a suitable combination of Equity and guarantee.    Check out some actual VA Jumbo Loan Refinance scenario's here. 
9. VanDyk Mortgage offers VA Jumbo Streamline refinances above your current county limits 

VA Home Loan info for San Francisco, California:

• Active Duty Military and Veterans can both qualify
• 100% financing up to $962,500
• A $1.0m San Francisco Home Purchase would only require $9,375 downpayment (0.94%) - 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
• VA Loans are not just for first time homebuyers
• VA Jumbo Loans are offered at competitive rates that will surprise you, in a good way.
• Sellers can pay up to 4% of the VA Buyers closing costs
• VA Loans can be used to purchase VA Approved Condominiums with zero down

VanDyk is your source for VA backed Condo loans.   We also do not have a waiting period for "flips".  This is often called the Flip Rule or VA Flip Rule.   VanDyk does not require the seller of a property to wait 90 days before allowing a VA buyer to purchase the property, only 1 day.

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 serve the entire states of California and Washington for VA Loans, including Los Angeles, San Francisco, Pasadena, Long Beach, San Jose, San Diego, Huntington Beach, Anaheim, Orange, Santa Ana, Oakland, Fresno, Bakersfield, Riverside, Lancaster, Sacramento, Seattle, Tacoma, Spokane, and everything in between.  

Here is a link to part one of our series: Using your VA loan benefit to purchase a home in San Francisco

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