refinance: Refinance USDA RD Loans in Tennessee, No Appraisal or Credit Check - 05/09/13 02:16 AM
On February 1, 2012, the Federal Government Announced a Rural Development  Pilot Program to Assist Rural Borrowers Refinance their USDA Rural Development Mortgages to Get Lower Interest Rates and Payments
The program removes many obstacles that have prevent Tennessee homeowners from refinancing and taking advantage of historical interest rates.Previously many homeowners have wanted to refinance thier home loan to a more affordable monthly payment only to find that they did not have enough equity in the home to qualify.  Unfortunately the value of their home had decreased like so many others in recent years leaving them no opportunity to refinance.   … (0 comments)

refinance: VA Streamline Refinance (IRRL or VA Rate Reduction) for Investment Non-Owner Occupied Homes - 02/02/12 10:37 AM
Can I get a VA IRRRL Streamline Refinance for my Rental home?  
This is a common question for Veterans and Active Duty Military Personell who have utilized their VA Benefit to purchase a home using a VA Loan, and then are transferred to another area, often via PCS.   Or if they have purchased another home to adjust to a new family size or larger home, etc.  
So what is the answer to the question - Can I get a VA IRRRL Streamline Refinance for my Non-owner occupied home?  (AKA Rental Home or Investment home).  The answer is Yes!   … (0 comments)

refinance: Congress Passes Law to Raise Mortgage Rates - 01/11/12 05:33 AM
Tax Cut to be Financed by Higher Mortgage Rates
 
In 2011 Congress voted to decrease the employees portion of the Social Security tax from 6.2% to 4.2%.  This cut was set to expire, and the rate go back to the 6.2% it was before, but was a two month extension was recently signed by the president.
As part of the extension of the Payroll Tax Credit, Congress has passed the Tax Cut Continuation Act of 2011.
As part of the Act, the Federal Housing Finance Agency FHFA is directing Fannie and Freddie to increase their guarantee fee by 10bps. starting 4/1/12.  As … (1 comments)

refinance: Top Reasons to Refinance Your Mortgage - 09/15/11 05:44 AM
Naturally, if you’re paying 5% for your mortgage and you can refinance at 4%, you’re gonna do it. Although cutting your monthly payment remains an prime motivation, there are at least five other reasons people often consider a mortgage refinance.
1. Change your mortgage term If you decrease the term of your mortgage in a refinance by going from a 30-year to a 15-year, you’ll pay a lower interest rate and shorten your overall interest costs. You will build  more equity much quicker , and pay off your home much  sooner, even though your monthly payments may go up slightly.  This … (0 comments)

refinance: 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)

refinance: Refinance to 15 Years - 09/09/10 06:38 AM
Many homeowners are deciding to take advantage of super low rates  and refinancing their current mortgage for 15-years. It's not for everyone since refinancing to a shorter term typically means making higher monthly payments. But for many people like the benefits come down to crunching the numbers and doing the math.
For one client, the shorter mortgage meant paying $500 more each month than the their 30-year-mortgage, but saving over $120,000 in interest payments. The extra payments are ok with them if they live within their means and aren't living extravagantly.
We are sensing a growing interest among some of their clients to focus … (1 comments)

refinance: 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)

refinance: 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

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Van Dyk Mortgage

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

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