Fannie & Freddie extend HARP Refinance program for underwater homeowners - HARP -Home Affordable Refinance Program

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Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035

Fannie & Freddie extend HARP Refinance program for underwater homeowners - HARP -Home Affordable Refinance Program for conventional conforming loans.  

The regulator for Government run Fannie Mae and Freddie Mac has authorized a 1 year extension on the HARP Refinance initiative until June 2011.  This is also called the Home Affordable Refinance Program.   This program allows homeowners with loans currently owned by Fannie Mae or Freddie Mac to refinance with expanded qualifications such as reduced appraisal requirements, higher Loan to Values allowable, reduced income documention, etc.

The Fannie Mae program is called Refi Plus or DU Refi Plus.  This program allows several benefits to refinance:

> allows you to refinance your mortgage up to 125% of your current value

> allows for reduced income and asset documentation (definitely not stated income however)

> allows for appraisal waivers in some cases, saving you the time and expense of an appraisal

> allows you to take advantage of the low interest rates you may have missed out on!

> these are available up to the conforming loan limits for your county (see below for links)

The Freddie Mac program is called the Freddie Mac Relief program - Open Access.  This program allows several benefits to refinance:

> allows you to refinance your mortgage up to 125% of your current value

> allows for reduced income and asset documentation (definitely not stated income however)

> allows you to take advantage of the low interest rates you may have missed out on!

> You are no longer restricted to using your current lender on your loan to complete your Freddie Mac Relief Refinance - We can help.

> these are available up to the conforming loan limits for your county (see below for links)

Click here for California Loan Limits

Click here For Washington Loan limits

For Washington State residents, we offer Conforming and Conforming Jumbo Loans for Single Family Homes up to $567,500 in King, Snohomish, and Pierce Counties. Up to $593,750 in San Juan County, and $475,000 in Kitsap County.

For California State residents, we offer Conforming and Conforming Jumbo (aka High Balance) for Single family Homes up to $697,500 in San Diego County, up to $729,750 in Los Angeles, Orange, Ventura, San Francisco, San Mateo, Santa Clara, Contra Costa, Alameda, Marin, Monterey, Napa,  Santa Barbara, Santa Cruz, San Benito counties, up to $580,000 in Sacramento, Placer & El Dorado counties,Sonoma county up to $662,500, and up to $500,000 in Riverside and San Bernardino counties. 

VanDyk Mortgage is a Direct Lender.  To get started, contact us at 760-752-4480 (Brian Skaar Direct), or apply online at www.vandykfunding.com.

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Brian Skaar

VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
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