fha: FHA Loans in Nashville TN - 07/31/14 06:08 AM
FHA Loans in Nashville TN
Nashville TN is one of the fastest growing cities and has one of the better economies in the entire United States of America.  As a result many people are moving to the area and buying homes.  While many of those people qualify for and utilize a conventional loan for their purchase of their new home, there are also many that for various reasons that cannot get approved for a conventional loan and would benefit from a FHA loan.
 
FHA loans in Nashville TN opens the door to homeownership for many homebuyers that would otherwise be … (0 comments)

fha: FHA Loan Limits in Nashville Tennessee - 05/10/13 06:06 AM
FHA Loan Limits in Nashville and Tennessee 2015
FHA loans are a great resource that opens the door to home ownership to many buyers that otherwise would not be able to qualify for a loan for the purchase of their new home.
FHA loans have a much more relaxed and forgiving approach to underwriting in regards to:
     -Credit: Credit Scores as low a 620,   Buyers with past credit issues such as bankruptcy and foreclosure can qualify in as little as 1 year after filing chapter 13, 2 years after discharge of chapter 7 and 3 years after a … (1 comments)

fha: Buy a Home in Spring Hill, TN with Zero down payment; USDA RD Loans - 04/10/13 03:41 AM
You can buy a home in the Spring Hill Tennessee area with no money down
The  Tennessee Development Loan Program is designed to help home buyers outside of population centers to buy a home without having to overcome the obstacle that prevent  many from the dream of home ownership, down payment.
While the homes within the city limits of Spring Hill,  do not qualify for the Rural Development Program,  you can see from the map, one does not need to go far outside of Spring Hill to find an area that is eligible for the Rural Development loan program and the … (0 comments)

fha: Tennessee USDA Rural Development Loan; No Down Payment Required - 03/30/13 11:06 AM
Tennessee USDA Rural Development Home Loan
 
The USDA Rural Development loan is a great opportunity for Tennessee Homebuyers.  It is one of the only loans that will allow you to buy a home without having to have a down payment.  And regardless of what is stated on the news and media, one's credit history does not have to be perfect to qualify for a home loan. A Tennessee homebuyer can qualify for a USDA Rural Development loan in only 2 years after a hardship event that may have hurt their credit.
     We also offer VA loans with … (1 comments)

fha: The difference between being Pre-qualified and being Pre-APPROVED - 03/05/13 01:15 AM
A recent article in Forbes magazine entitled “Why Getting Pre-Approved For A Mortgage Is A Sham” was lamenting the uselessness of home buyers obtaining a pre-approval letter from a mortgage lender prior to shopping for a home.   Here is a short excerpt from the article that summaizs the author's concerns. “The fact is that mortgage pre-approvals are not what everybody wants them to be. They are not ironclad, they are not processed and reviewed by underwriting people and they are not subject only to an appraisal, even though most of them say that. They are however part of almost every … (0 comments)

fha: Can I buy a Home in Memphis Tennessee after a Bankruptcy - 02/26/13 12:08 AM
You can buy a home after a Bankruptcy in Memphis Tennessee
In contrast to public opinion, you do not always need to wait a very long time following a bankruptcy to qualify for a new home loan.  While most loan programs do require a waiting period of  3-5 years after a bankruptcy to purchase a new home, there is one program that will still allow you purchase a new home one day out of bankruptcy.  In fact, it even allows some to purchase a home while still in bankruptcy.
The FHA Guidelines state in the 4155.1:
"A Chapter 13 bankruptcy does not disqualify a … (0 comments)

fha: Rural Development Loans in Jackson TN, Buy a Home with no down payment - 02/25/13 02:46 PM
Jackson is the county seat of Madison County, Tennessee.  The total population of the city at the 2010 Census was 65,211.
The city of Jackson is the only area in Madison county that is not eligible for 100% financing using the USDA Rural Development home loan.  Rural Development, or RD loan allows buyers in eligible areas purchase a home without a down payment.  They are able to finance 100% of the purchase price of the home. However, the program has income as well as geograhic limits.  The income limits are based on the size of the family and takes into account … (1 comments)

fha: Rural Development Loans in Clarksville TN, Buy a Home with zero down - 02/25/13 01:36 PM
Rural Development Loans in Clarksville TN 
Clarksville the county seat of Montgomery County, Tennessee. Clarksville 5th largest city in Tennessee with a population of 132,929 in the 2010 Census. Clarksville is the 9th fastest growsing city in america among cities with populations greater than 100,000. While Clarksville is the home of Ft Campbell and members of the military qualify for VA loans which do not require a down payment, there are still many in the area that do not qualify for VA loans that still benefit from the USDA Rural Develepment loan program.  The RD loan allows for the purchase of a … (0 comments)

fha: USDA Property Areas in Tennessee. RD Eligible Counties - 02/23/13 10:47 AM
All areas of the counties listed below are eligible for USDA Rural Development loans in the State of Tennessee.  A USDA loan can be used to purchase a home in any of these counties with no down payment, USDA provides 100% financing in these areas.
 
 
It is important to verify the home you want to buy in the counties above does in fact fall into one of the eligbile areas.  It is possible that houses that are next door to each other may fall into differnet categories.  One may qualify for the RD program, and the other one may … (2 comments)

fha: USDA Rural Development Success in Cookeville, TN - 02/08/13 06:35 AM
USDA Rural Development helps another Cookeville Tennessee Family get their dream home.
"Bill and Mary Ann your persistance and dedication has made a family dream come true.  Thank the both of you for being patient with us and for believing 'Yes We Can'.  Be Blessed"
 
It feels great to get notes like the one above from a family that is happy to be moving into their new home.  We knew from the beginning that it was going to be difficult to get the loan approved.  Yet, knowing the guidelines and how the USDA office was going to look at the … (1 comments)

fha: 2013 Texas FHA County Loan Limits - 01/14/13 08:31 AM
VanDyk is proud to be a FHA Full Eagle Direct Endorsement Lender. What is that? We are a FHA Direct Lender with the full support of HUD, the US Department of Housing & Urban Development. We provide FHA loans in all areas of Texas for Purchase, Refinance, or FHA Streamline. 
Van Dyk offers FHA Loans for Single Family Homes up to $332,500 in San Antonio Metro Area.  This includes Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, and Wilson counties. 
FHA Loans are available to First Time Homebuyers and Move up or subsequent purchase home buyers as well.
Besides the Higher limits around … (0 comments)

fha: FHA Mortgage Insurance Increases For Tennessee April 1, 2012 - 03/05/12 12:18 AM
On April 1, 2012, FHA mortgage insurance premiums (both the upfront and monthly Premiums) will increase to replenish the FHA depleted accounts.
Although FHA  mortgage interest rates continue to remain at all-time lows, FHA mortgage fees are increasing, making the cost of buying a home or refinancing a home more expensive.  The consecutive increase in FHA mortgage insurance premiums may limit a home buyers “buying power” but protects the nations primary “low cost” mortgage program for homebuyers. 
There was a great article in the Washington Post explaining the current financial situation of FHA if you are interested in learning more – … (1 comments)

fha: Meet Bill McDonald Mortgage Lender - 09/02/11 04:30 AM
  As a mortgage lender I have come to realize that people do not WANT a mortgage.  In fact they work hard for 30 years to rid any they may have. What people WANT is a home, and just need a mortgage to satisfy that want.
It is with this understanding that I have decided to learn all I can about marketing the thing that the do want, homes.  I have compiled systems that will aid Realtors in acquiring leads, keeping the leads they have as well as generating buyer leads.
It is my goal to develop a mutually beneficial relationship with … (0 comments)

fha: What others have to Say about Bill McDonald - 07/14/11 04:26 AM
This will be the 6th house I've purchased with a mortgage. I worked with Bill McDonald and it was by far the best experience I've had. Everything was handled expediently, accurately, and with a personal touch. He also went outside of his way when I asked for help with homeowner's insurance and recommended someone equally as competent. I cannot say enough about Bill and the positive experience I had. He has earned my loyalty and I look forward to doing business in the future.  
Thaddeus S
 
 
Hi Bill,
I received your package. It was a nice suprise. I … (0 comments)

fha: Buying a Home after a Short Sale in Baton Rouge Louisiana, Denham Springs, Gonzales, Zachary, - 06/23/11 01:45 PM
Can I buy a home in Baton Rouge Louisiana after a short sale?
Most lenders will tell you that  one must wait a number of years following a short sale of a home before they are eligible for a mortgage or home loan to purchase another home in Baton Rouge Louisiana

You May be Able to Purchase a Home in Baton Rouge Louisiana After a Short Sale
While it is true that other loan program requirements would prevent one from buying a new home in Baton Rouge and Louisiana  shortly after a short sale, FHA guidelines allow for those that … (0 comments)

fha: Buying a home in Atlanta, Georgia after a short sale, Can I buy a home in Atlanta Georgia after a short sale? - 06/23/11 09:28 AM
Can I buy a home in Atlanta Georgia after a short sale?
In most situations one must wait a number of years following a short sale of a home before they are eligible for a mortgage or home loan to purchase another one in Atlanta Georgia  .

You May be Able to Purchase a Home in Atlanta Georgia After a Short Sale
While it is true that Conventional loan requirements would prevent one from buying a new home in Atlanta or Georgia  shortly after a short sale, FHA guidelines do make provision for those that fit some pretty specific criteria. … (0 comments)

fha: Buying a Home in Tennessee After a Short Sale - 06/23/11 09:00 AM
Who Can Buy A Home in Tennessee After a Short Sale
In most situations one must wait a number of years following a short sale of a home before they are eligible for a mortgage or home loan to purchas another home.

You May be Able to Purchase a Home in Tennessee After a Short Sale
While it is true that Conventional loan requirements would prevent one from buying a new home shortly after a short sale, FHA guidelines do make provision for those that fit some pretty specific criteria.  The exception by FHA would not apply to those that … (0 comments)

fha: Changes in FHA Mortgage Insurance Costs - 08/06/10 06:56 AM
This week congress passed HR 5981 which grants FHA the power to adjust the mortgage insurance rate from current cap of .55% to 1.55%
According to communication sent out earlier this week by FHA Commissioner David Stevens, the initial adjustment will to raise the preimium from the current .55% to .85%-.90%.  This will make the mortgage payment, before escrows, on a $150,000 purchase $853.26 per month as opposed to $816.26 under the previous guidelines.
While this does increase the monthly expense by about $40 per month on our example above, there are some positives to the changes.  The first thing is … (1 comments)

fha: Power of Using Referrals - 08/02/10 01:02 PM
Like any other industry, those of us have found other professionals that we are comfortable working with, those that we trust.  For real estate agents, lenders and title companies  it is critical to have a good working relationship to ensure a successful transaction for buyers and sellers.

 
Professionals that work together, usually prefer to continue working together in the future.  The also know that if they fail to live up to the expecation of the other professionals involved in the transaction and others lose trust in them and their word, they will not receive future referrals.
When one of … (1 comments)

fha: Time to take advantage of LOW mortgage rates - 07/30/10 02:50 PM
No doubt you’ve heard that mortgage rates are low. They’re lower than they’ve ever been in history. The news is everywhere. Just check out some of these headlines from the last 24 hours: *
Mortgage rates set new lows for the sixth straight week (Reuters)
* Mortgage rates fall again; 30-year fixed at 4.54% (Wall Street Journal)
* Mortgage rates hit another low : 4.54% (NPR)
Fixed mortgage rates are now down more than 1/2 percent from the start of the year, and 3/4 percent from just 1 year ago. The drop has dramatically improved home affordability for home buyers in … (1 comments)

 
Bill McDonald, VA, USDA, FHA Government Loans - (865) 686-8711 (Van Dyk Mortgage ) Rainmaker large

Bill McDonald

VA, USDA, FHA Government Loans - (865) 686-8711

Knoxville, TN

More about me…

Van Dyk Mortgage

Address: 57 Maple Grove Dr , Ste 202, Crossville, TN, 38555

Office: (866) 435-6553

Fax: (866) 435-6552

Email Me

Google+


Listings

Links

Archives

RSS 2.0 Feed for this blog