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.