va lender: FHA High Balance or FHA Jumbo? What is the difference?
- 03/28/10 09:12 AM
FHA High Balance or FHA Jumbo? What is the difference? FHA High Balance or FHA Jumbo? What is the difference? (January 2023 update) The answer is simple: None. FHA loans that are over $726,200 and up to the county FHA Loan Limits are called both FHA Jumbo and FHA High Balance loans. These are available up to $1,089,300 in areas such as Los Angeles, , Orange County, San Jose, San Francisco, and most of the Bay Area. San Diego FHA Jumbo's go up to $977,500, while Seattle, Tacoma, King, Pierce, and Snohomish counties can borrow up to $977,500 on a FHA Jumbo … (0 comments)
va lender: Another FHA Refinance Case Study
- 03/14/10 07:41 AM
I just posted a FHA Refinance Case Study for a loan over $417K, here is another FHA Refinance Case Study to show another area where FHA can help homeowners. Let's say you live in Los Angeles California. Your home is now worth $400K. Your First Mortgage is $340K, and you have a small second mortgage of $36K, which you used to finance your child's college expenses. Your first loan has been denied for a HARP (Home Affordable Refinance Program, aka DU Refi +) due to the fact that it was a Non-conforming mortgage from Ameriquest. That rate is now set to … (0 comments)
va lender: Our VA Jumbo loans are not capped at $650,000
- 03/10/10 03:10 AM
VanDyk Mortgage allows you to borrow up to your full County Loan Limits. Our VA Jumbo loans are not capped at $650,000. This may sound strange, but many VA lenders do not offer VA loans above $650k. Why $650K you ask? It doesn't correspond with any VA County Limit (check yours here). This has to do with the lenders investors and warehouse financing. Warehouse financing is basically the Lenders line of credit that is used to extend mortgage loans. Many lenders are constricted by their warehouse lenders guidelines such as the $650K limit, without regard to Loan Limits. VanDyk Mortgage allows you … (0 comments)
va lender: VA Home Loans not just for First Time Homebuyers anymore
- 03/10/10 02:54 AM
VA Home Loans are not just for First Time Homebuyers anymore. With increased VA Loan limits and enhanced VA refinance options, VA Home Loans offer current Veteran Homeowners two opportunities. Veterans looking to purchase a new home (ie move up VA buyer) can now take advantage of much higher VA Loan limits to purchase their primary home. We will discuss VA Loan limits further in this article. Refinance your Non-VA Loan into a safe, fixed rate VA loan (with no mortgage insurance, and up to 90% of your homes value, and this amount can include cash out). Veteran Homebuyers in the greater Seattle-Tacoma-Everett … (0 comments)
va lender: California VA Loan Limits by County for 2010
- 03/07/10 04:27 AM
California VA Loan Limits by County for 2010 The Veterans Administration, in concert with some help from Congress in 2008 now allows Veterans and Active Duty Military Personnel to purchase homes in higher cost areas such as California and Washington at loan amounts much higher than the old VA limits. Some examples in California are San Jose, San Francisco, Oakland, Fremont and much of the Bay Area may qualify for a 100% VA Jumbo loan up to $962,500. Los Angeles and Orange county cities such as Los Angeles (duh), Irvine, Anaheim, Newport Beach, Costa Mesa, Laguna, Orange, Santa Monica, Hermosa Beach, … (0 comments)
va lender: 2010 FHA Loan limit snapshot by city for California and Washington
- 03/05/10 08:22 AM
2010 Loan Limits for FHA loans in California and Washington are adding support to the housing markets with purchase prices over $400K and helping those who want to borrow over $417,000 to purchase their new home. The Base FHA Loan Limit remains at $271,050 accross much of the USA. The new Maximum limit for higher cost areas is now $729,750, with many counties accross America falling somewhere inbetween. Here are some highlights of the new loan limits: Bellevue, WA $567,500 Carlsbad, CA $697,500 Chula Vista, CA $697,500 Escondido, CA $697,500 Everett, WA $567,500 Greene County, GA $662,500 Key West, FL $729,750 … (0 comments)
va lender: VA Jumbo Refinance loans offer solutions conventional loans don't allow pt2
- 10/31/09 07:43 AM
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 … (0 comments)
va lender: VA Jumbo Refinance loans offer solutions conventional loans don't allow pt 1
- 10/31/09 07:18 AM
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 $1,500,000, 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, or want to pay … (0 comments)
va lender: VA Home Loans with Fico's as low as 620 still available
- 10/25/09 04:18 AM
VanDyk Mortgage is proud to announce that we offer VA Loans for Borrowers with fico scores as low as 620. Many VA Lenders have begun to require minimum Fico scores for VA Loans of 640 or 660 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 … (0 comments)
va lender: VA Jumbo Loans available up to $1,094,625
- 10/25/09 04:01 AM
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 … (0 comments)
va lender: VA Loans - Converting your Present home into a rental
- 03/14/09 06:17 PM
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 … (0 comments)
va lender: VA Home Loans - Refinance up to 100% of your current value
- 02/08/09 08:04 AM
The Headline is Correct: VA now allows 100% 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. You can even combine a First and Second Mortgage into a new VA Loan without the restrictions of "cash out" designations that other loan types place on consolidations. Even better news: The previous limit of $144,000 on VA refinances … (0 comments)
The Government Loan Pro's Blog includes topics on Government backed Home Mortgage Loans and Lending, VA loans, VA Jumbo Loans, FHA Loans, USDA Loans, FHA Jumbo Loans, VA High Balance Loans, FHA 203K loans, Conventional Loans, Jumbo Loans, No monthly PMI Loans, Piggyback loans, 80/10/10 loans, Conforming High Balance Loans, how to use your VA Home Loan Benefit, San Diego, Los Angeles, SF Bay Area, Northern California and Southern California Home Loans, Seattle - Tacoma - Everett Area Home Loans, Colorado Home Loans, Denver Home Loans, Boulder Home Loans, Texas Home Loans, Dallas Home Loans, Houston Home Loans, San Antonio Home Loans, Virginia Loans, Washington Loans, Georgia Home Loans, Florida Home Loans, and more.
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FHA High Balance or FHA Jumbo? What is the difference?
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