Monday, January 19, 2009

2009 FHA Jumbo update - 2nd appraisal Requirements

New for 2009 with FHA Jumbo Loans are some changes to the second appraisal requirements for FHA Jumbo Loans.

In 2008, the threshold for FHA Jumbo loans that require a second appraisal was those loans greater than $362,800 in 2008. The new Threshold for FHA Jumbo Loans requiring a second appraisal for 2009 is $417,000. All FHA Loans $417,001 and above still require the second appraisal, yet this modernization of FHA allows those loans falling between $362,800 and $417,000 to be completed with a single FHA appraisal.

This holds true for FHA Jumbo Purchase Loans, FHA Jumbo Refinance Loans, and non-credit qualifying FHA Jumbo Streamline Refinance loans. FHA Jumbo Streamline Refinance loans are available with NO appraisal required as long as we credit qualify the loan.

FHA Cash out Refinances over 85% LTV also require a second appraisal, regardless of Loan amount.

VanDyk Mortgage has been making FHA loans & VA Loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter, FHA Direct Lender, & VA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at www.vandykfunding.com or call Brian Skaar at 760-752-4480 for help with your FHA Streamline, FHA purchase loan, VA purchase loan, or VA Streamline. We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, VA Jumbo, Conforming & Jumbo Loans. We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, and every other city in California, Georgia, Texas, Florida & Washington.

Sunday, January 18, 2009

FHA Streamline Refinance - No Appraisal Required

VanDyk Mortgage offers FHA Streamline refinances with No Appraisal Required.

This a great way for families with FHA Loans who purchased a home in the past couple years or who may have refinanced their FHA Loan in the past couple years an opportunity to take advantage of today's low interest rates to lower their home loan rate with a FHA Streamline Refinance without the worry about stagnant or falling property values killing the deal.

FHA, FHA Jumbo Loans, FHA 203K loans, and FHA Secure loans all qualify for the FHA Streamline Refinance with no appraisal requirement. There is no out of pocket expense to complete the FHA Streamline Refinance without appraisal in most cases, even for FHA Jumbo Streamline refinance.

FHA Streamline Refinaces with No Credit or Income qualification are also available. These do require an Appraisal, but can still save you hundreds per month!

The FHA Streamline Refi is available for FHA, FHA Jumbo Size loans, FHA Secure loans, and FHA 203K loans (if work is complete).

For FHA Streamline Refinance Loans and VA Streamline Refinance (IRRRL) loans call the Government loan experts at VanDyk Mortgage - 866-900-2342 or apply now at http://www.vandykfunding.com/.

VanDyk Mortgage also offers FHA Jumbo Streamline Refinance loans - it is OK with us if your loan amount exceeds the 2009 loan limits, we can still help you with your FHA Jumbo Streamline Refinance.

VanDyk Mortgage has been making FHA loans & VA Loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter, FHA Direct Lender, & VA Direct Lender.

Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar at 760-752-4480 for help with your FHA Streamline, FHA purchase loan, VA purchase loan, or VA Streamline.

We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, VA Jumbo, Conforming & Jumbo Loans. We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, and every other city in California, Georgia, Texas, Florida & Washington, CA, WA, GA, FL, MO, MI, TX, . VanDyk Mortgage is your FHA Lender & VA Lender of choice.

FHA Loan myth #4 - Down Payment Assistance is gone

FHA Loan myth #4 - Down Payment Assistance is gone.

There is much confusion about the recent demise of FHA seller funded Downpayment assistance. Many Homebuyers and Realtors alike are confused by the press coverage.
You can still receive credit for closing costs, recurring & non-recurring, from sellers with FHA Loans.

In fact, the seller can pay up to 6% of the purchase price towards your buyers closing costs, prepaid items, repairs, etc and FHA is OK with this.

So how does this differ from Seller Funded Down Payment Assistance Programs that were recently outlawed? (DPA's)

FHA Loans require a minimum cash investment from the buyer of 3.5% of the purchase price from their own funds or from gift funds from Relatives. There are some other more obscure gift fund sources available as well, but they are much harder to find for buyers. The remaining cash necessary to close (IE closing costs, taxes, insurance, points, prepaid Interest, etc) can be paid by the seller. Buyer puts the minimum 3.5% down toward the closing. (or is gifted that amount from family).

DPA's utilized a charity or other organization to "donate" the Cash proceeds necessary to homebuyers, therefore helping the buyer meet the "FHA minimum cash investment" requirement. The Seller was actually the one who paid for the funds, via donations to the charity to directly benefit the buyer. With DPA's the buyer didn't have to put any of their own money (savings or gifted) into the purchase. That is the practice that is now outlawed.

So here is what is Available today: The Seller can contribute up to 6% of the selling price in a FHA purchase loan transaction toward the buyers Closing Costs (as defined above). The buyer simply needs to bring 3.5% of the purchase price to the transaction from either their own savings or gifts from family.

Call us to get started buying your home with a safe, secure, affordable FHA Loan. 760-752-4480 or apply online at http://www.vandykfunding.com/.

FHA Streamline Refinance - Minimum Time since Purchase of Home or last FHA Refinance

FHA Streamline Refinance - What is the Minimum time elapsed since home purchase before eligible for and FHA Streamline Refinace?. This is a subject of great interest to recent home buyers who took advantage of the benefits of FHA loans to purchase their new homes.

Well, rates have dropped significantly, and the question comes up:

"How long do I have to wait before I can get a FHA Streamline Refinance or FHA Refinance after purchasing my home?" (or after a FHA Refinance loan)

Most banks answer: 6 months - 12 months.

VanDyk Mortgage Answer: No Minimum time! This is for FHA standard size & FHA Jumbo loans.

We do prefer that at least one on-time payment has been made on your loan, as this makes the process quicker & easier to administrate, however this is not required in all cases. Many new homeowners can save from $200-500 per month with the VanDyk FHA Streamline Refinance, with no out of pocket costs! The FHA Streamline Refi is available for FHA, FHA Jumbo Size loans, FHA Secure loans, and FHA 203K loans (if work is complete).

For FHA Streamline Refinance Loans and VA Streamline Refinance (IRRRL) loans call the Government loan experts at VanDyk Mortgage - 866-900-2342 or apply now at http://www.vandykfunding.com/.

VanDyk Mortgage has been making FHA loans & VA Loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter, FHA Direct Lender, & VA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar at 760-752-4480 for help with your FHA Streamline, FHA purchase loan, VA purchase loan, or VA Streamline. We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, VA Jumbo, Conforming & Jumbo Loans. We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, and every other city in California, Georgia, Texas, Florida & Washington.

FHA Streamline Refinance - Minimum Time since Purchase of Home or last FHA Refinance. FHA jumbo streamline refinance available now. call today. 866-900-2342 toll free.

Wednesday, January 14, 2009

VanDyk Mortgage now allows FHA Streamline Refinances with loan amounts ABOVE new 2009 loan limits

VanDyk Mortgage now allows FHA Streamline Refinances with loan amounts ABOVE new 2009 FHA loan limits. WOW.

I just posted another blog on this issue, but I thought it was very important to very, very clear.

VanDyk Mortgage will allow you to refinance your FHA Loan via the FHA Streamline Refinance even if your loan balance exceeds the new 2009 FHA Loan limits for your area.

Please call for details, 866-900-2342 toll free - ask for Brian Skaar.


VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar at 760-752-4480 for help with your FHA Streamline or FHA purchase loan. We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, Conforming & Jumbo Loans. We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, and every other city in California, CA, WA, GA, FL, MO, MI, TX. FHA jumbo streamline refinance available now. call today. 866-900-2342 toll free.

FHA Streamline Refinance - Great savings opportunity

I just wanted to post something real quickly about FHA Streamline Refinances - They are an exceptionally easy way to save money on your monthly house payment.

With FHA Streamline Finances you have reduced documentation requirements such as No Appraisal, or No Income. These are very easy to process for you with little or no cash out of pocket.

VanDyk Mortgage is a FHA Direct lender, and has been making FHA, VA, & Conventional Loans since 1987. Go with the Government Loan Pros, call VanDyk.

FHA jumbo streamline refinance available now. call today. 866-900-2342 toll free.

Many more FHA Posts here

I have decided to consolidate most of my Blog posts on this site, VanDykMortgage.

However, I have posted many helpful & informational FHA Blog posts on two other Blogs, FHAsecure, and FHA Jumbo.

You may want to check them out.

FHA Jumbo Streamline Refinance - Great news!

With the new 2009 Loan limits, many Homeowners have found they have a FHA Loan that is actually at a higher principal balance than the new 2009 FHA Loan limit for their area, limiting their ability to refinance into the new lower rates available today.

For instance, if you purchased a home with a FHA Jumbo Loan in Los Angeles in 2008, the limit was $729,750. In 2009 the limit for Los Angeles is $625,500. Those Homeowners who purchased homes using FHA Jumbo loans in 2008 with loan amounts higher than the 2009 limits (> $625,500) may have been told by their lender that they cannot refinance into today's new lower rates due to their FHA Loan exceeding the 2009 loan limits.

VanDyk Mortgage can help you with our FHA Jumbo Streamline program. We can process your FHA Jumbo Streamline Refinance at the old loan limits for your area. This could save you hundreds per month.

Loans over $625,500 are OK!

VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar at 760-752-4480 for help with your FHA loan. We offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, Conforming & Jumbo Loans. We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Northern California, Washington, Texas, Georgia, Florida, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County. FHA jumbo streamline refinance available now.

Sunday, January 11, 2009

New VA rules allow better Refinance options for Vets & Active Duty Service Members

New VA rules allow better Refinance options for USA Vets & Active Duty Service
Members.

The new VA rules allow Vets & Active Duty Service Members to refinance their non VA home loans into safe, secure VA Fixed Rate Home Loans up to 100% of their homes appraised value. This new program should help thousands of USA Vets & Active Duty Service Members to save their homes, solidify their financial future, and start building wealth for the future.

If you need to Refinance your Non-VA home loan, the new VA Refinance offers you the best option for affordability, and it is very reasonable to qualify. The former limit for this type of transaction was 90% of the home's value and $144,000. It is now 100% of your home's value and the loan limits go as high as $1,094,625 in some counties. To find out the loan limit for your county, click here.

Call the Government Loan Experts at VanDyk Mortgage today at 866-900-2342. http://www.vandykfunding.com/.

We serve the following areas for VA, FHA and Conventional loans: California, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County.

VA Streamline Refinances now even better

Enhanced VA refinance Options for Current VA Home loan holders.

The Enhanced VA Streamline Refinance now helps you to lower your interest rate on your VA Loan.

Recent legislation passed by Congress now allows Current VA loan holders to Refinance their VA Home Loans into lower interest rate VA Home Loans via the VA IRRRL, AKA " the Earl" or Interest Rate Reduction Refinance Loan. What a mouthful. I prefer Earl.

This loan is now available up to the VA Loan Limit for your area. These were previously limited to $144,000.

The Streamline VA Refinance program allows you to Lower your interest rate & monthly payment with:
*NO Appraisal Required (yes, no appraisal required)
*NO Credit Check required
*NO Income Documentation required
*NO MI (mortgage insurance)
*NO Money out of Pocket.

Call us today to get started saving money on your monthly house payment. 866-900-2342.
VanDyk Mortgage has been making Government Home Loans since 1987. We are a VA Direct Lender (FHA Direct Lender too). Call the Government Loan Pros first, you will be happy you did. 866-900-2342 toll free - www.vandykfunding.com .

There are also new Refinance options for Veterans who do not currently have a VA Loan. The new VA loan regulations now allow you to refinance your non-VA Loan into a new VA Home Loan up to 100% of your homes value. These do require appraisal, credit, income, etc, but the benefits for Veterans and Active Duty Service Members are tremendous. Call us to see if this option could help you into a safe, secure fixed rate VA Loan.

We serve the following areas for VA, FHA and Conventional loans: California, San Diego, San Marcos, Carlsbad, Oceanside, Vista, Escondido, Fallbrook, Bonsall, Riverside, Los Angeles, Orange County, Irvine, Corona, Anaheim, Santa Ana, Seattle, Washington, Bellevue, Kirkland, Redmond, Lynnwood, Olympia, Tacoma, Puyallup, Buckley, Auburn, Kent, Federal Way, Seatac, San Francisco, San Jose, Carson, Gardena, Hawthorne, Lawndale, Inglewood, Ladera Heights, View Park, Windsor Hills, Baldwin Hills, Fox Hills, Culver City, Beverly Hills, Malibu, Santa Monica, Brentwood, Calabasas, Encino, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, San Marcos, San Diego, Rancho Bernardo, Carlsbad, Escondido, Poway, Oceanside, Vista, Encinitas, Carmel Valley, Scripps, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Long Beach, Artesia, La Palma, Cerritos, Compton, Lynwood, Bellflower, Temecula, Murrieta, Southern California, Northern California, Washington, Everett, Lynnwood, Tacoma, Kent, Federal Way, Auburn, Renton, Bellevue, Redmond, Kirkland, Whittier, Santa Fe Springs, Downey, Irvine, Newport Beach, Los Angeles, San Bernardino, Riverside and Orange County.