home loan: Buy a Home in Smyrna TN with no Down Payment; USDA Rural Development - 04/10/13 06:39 AM
You can buy a home in the Smyrna Tennessee area with no money down
The  Tennessee Development Loan Program is designed to help home buyers outside of highly populated areas  to buy a home without having to overcome the obstacle that of Down Payment that prevent  many from the dream of home ownership
While the properties in the city limits of Smyrna do not qualify for the Rural Development Program,  you can see on  the map below, you not need to go far outside of Smyrna to find homes that are in an area that is eligible for the Rural Development … (0 comments)

home loan: 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)

home loan: Rural Development Loan in Columbia Tennessee, No Down Payment Required - 04/03/13 05:56 AM
You can buy a home in the Columbia Tennessee area with no money down
The  Tennessee Development Loan Program is designed to help home buyers outside of population centers purchase a new home without having to overcome the hurdle that keep so many from the dream of home ownership, down payment.
While the homes in the city limits of Columbia Tennessee do not qualify for Rural Development Financing, as you can see from the map below, you do not have to go far outside of Columbia to find an area that is eligible for the Rural Development loan program and the … (0 comments)

home loan: 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)

home loan: 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)

home loan: 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)

home loan: 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)

home loan: USDA Eligible areas around Memphis Tennessee - 02/25/13 01:31 AM
The USDA Rural Development loan program helps home buyers in eligible areas purchase a home with no down payment.  The eligible areas include all of Fayette and Tipton counties, but  does not include population centers such as Memphis, Bartlett Germantown and Millington.  However areas near Memphis and part of the Memphis Metopolitan area do have areas and homes that would qualify for the program.  
 

 
 
As you can see from the map above that areas North of Millington are eligible as are areas North and even  slightly South of Hwy 385; areas such as Lakeland and Arlington. … (0 comments)

home loan: Should You Pay Points for a Lower Mortgage Rate in Knoxville - 05/21/12 09:18 AM
MORTGAGE POINTS AND FEES EXPLAINED FOR HOMEOWNERS IN KNOXVILLE AND EAST TENNESSEE
Paying fees up front to lower your interest rate and monthly payment might sound like a bright idea, and even look good on paper… But are they really worth it
For some Knoxville home buyers , it could be, but for others, not so much. This is why it can be a rather confusing topic for many looking for a good deal on their home loan.
If you really want to know if paying fees is a good deal for your particular situation, you need to calculate what your … (1 comments)

home loan: Can I buy a Home with bad credit in Cookeville, TN, Learn how to overcome credit hurdles and buy your new home - 04/12/12 09:58 AM

 Can I Buy a Home With Bad Credit  
 
 
See Video's at Bottom of this Page 
 
I talk to people every week  in Tennessee that want to buy a home, but are having much difficulty achieving their dream of home ownership due to problems with their credit history. It may have been a late house payment, car payment, student loans, medical bills and even more serious issues such collections and judgements. Cookeville home buyers have found that  these are all issues that can stand between someone and their desire to purchase their new home in Cookeville and … (1 comments)

home loan: 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)

home loan: Why You Should Get a VA Loan for the Purchase of your New Home. Benefits of a VA Loan - 01/17/12 05:25 AM
Conventional vs. VA Loan

See the unique advantages of a VA Loan
As a result of the many changes to the mortgage industry, the options for a conventional loan with $0 Down have disappeared and a VA LOAN is one of the only Zero Down home loans left.
 Not only can you save with a VA Loan by not having to have money for a down payment, you also save money by not having to pay monthly mortgage insurance required by other programs with less than a 20% down a payment.
In the past VA loans involved more red tape … (0 comments)

home loan: Help My Loan Has Been Turned Down, Declined or Denied - 01/11/12 07:01 AM
Has your application for a home loan or mortgage been turned down, declined or denied?  
 

 There are many reasons why a home loan or mortgage application would be turned down, declined or denied.
1. Low Credit Scores: The minimum credit score requirements for home loans have risen over the last few years.  Where it was common to see loans approved with scores below 600 now most lenders require a minimum score of at least 640 to approve a home loan.
However, a seasoned and savvy loan officer will often be able to formulate a plan to help you … (0 comments)

home loan: How Old Will You Be In 15 years? How Old Will You Be in 30 Years? - 08/03/11 02:30 PM
Would Paying Your Mortgage Off 15 Years Earlier
Improve Your Retirement?

With mortgage rates near historic lows, now is a great time for many people to consider trading in their current 30 year mortgage, and the 20+ remaining years and save over a hundred thousand dollars in interest with a 15 year loan.


 
When you analyze the numbers, the savings can be staggering, you may have to go back and do the math a couple of times before can believe how much you can really save.

There are many benefits of a 15 year loan over … (0 comments)

home loan: What if Rates Go Down After I have locked my rate, Can I get a lower rate? - 07/29/11 06:04 AM
 What if mortgage rates drop AFTER I have locked my rate?
Can I benefit from the lower rates, or am I stuck with the rate I locked ?
 When you lock in your rate you are protected from movements in the market that may take place befoe your loan closes.  In most cases once you lock in that protection you can not come back later and get a lower rate if the rates move lower instead of higher.  In the same way, the lender cannot come back to you and say that the rates have increased and that your rate will … (0 comments)

home loan: Get A Home Loan With NO Down Payment, Zero Down, 620 Credit Score, - 07/27/11 11:09 AM

One of the little known benefits of buying real estate outside of major metorpolian areas  is the fact that due to the "rural" location of these areas, homes in these locations qualify for the USDA-Rural Development Zero Down Payment Home Loan   That means that under the guidelines of this state-backed mortgage program, the borrower is not required to make a down payment nor are they required to have a monthly private mortgage insurance premium.On a $250,000 home, the savings is two-fold: First, borrowers saves $8,750 in respect to the required FHA down payment (3.5%) and two, borrowers save $183/month in MMI (monthly … (0 comments)

home loan: No Down Payment Needed - 09/08/10 07:41 AM
                                                   In a recent survey by Trulia, 47% of renters stated that  not having enough money for a down payment was the factor that kepty them from buying a home.
It was not too long ago that there were many programs available for people to buy a home with no money down.  With all of the sub-prime lending going on buyers were able to buy a home with no down payment with scores as low as 580.
 
Although those days are gone, it is still possible to buy a home with no down payment EVEN if you have had credit … (1 comments)

home loan: Act Now: Low Rates in Crossville, Tennessee - 09/01/10 04:53 AM
There has never been a better time to puchase a home in Crossville, Tennessee.  Hisotoric low mortgage rates and low home prices have made homes much more affordable in Crossville and through out the state of Tennessee.
Rural Development is now once again funding home loans and buyers are able to purchase their new home without having to have a down payment.  In fact the USDA program allows the sellers to also pay all of the buyers closing costs.  A buyer can buy a home without bringing any money to the closing table.
Call Network Funding  today at 866 435 6553 … (0 comments)

home loan: DU Refinance Plus - 08/10/10 07:30 AM
Many home homeowners find themselves in a situation that prevents them from refinancing their home loan and taking advantage of the very low mortgage rates that are currently available.
The problem is that their home has lost so much value in the last few years that while they were able to secure financing when it appraised for more, they cannot qualify for a refinance at the current value.
As part of the Making Home Affordable Prgram, the Home Affordable Refinance Program or HARP, Fannie Mae wishes to make low cost home loan refinancing available to  home owners that have shown responsibilty … (1 comments)

home loan: 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)

 
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

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