VanDyk Mortgage is a FHA Direct Lender and we offer FHA Jumbo loans up to your full County FHA Loan limit for 2010. This may sound strange, but many lenders are limited to a cap of $650K on FHA Loans, regardless of the corresponding FHA County Loan Limit. This constraint is due to their warehouse financing (ie, their line of credit for funding mortgage loans). We lend up to the full FHA County Loan limit in all areas that we service.
FHA Jumbo Loans are those that are $417,001 (aka the conforming loan limit) and up to the county limit. In many parts of California FHA Loans are available up to $729,750. This would include Los Angeles, Orange County, Ventura County, San Francisco, Alameda county, Santa Clara, San Jose, San Mateo, Contra Costa, and more. San Diego allows FHA loans up to $697,500, and Seattle is capped at $567,500. Be sure to check out our main website for details on FHA Loan Limits: http://www.vandykfunding.com/. VanDyk offers FHA Jumbo loans for Purchase, Refinance, and Cash out Refinance.
Wednesday, March 10, 2010
Our VA Jumbo loans are not capped at $650,000
VanDyk Mortgage allows you to borrow up to your full County Loan Limits. Our VA Jumbo loans are not capped at $650,000. This may sound strange, but many VA lenders do not offer VA loans above $650k. Why $650K you ask? It doesn't correspond with any VA County Limit (check yours here). This has to do with the lenders investors and warehouse financing. Warehouse financing is basically the Lenders line of credit that is used to extend mortgage loans. Many lenders are constricted by their warehouse lenders guidelines such as the $650K limit, without regard to Loan Limits. VanDyk Mortgage allows you to borrow up to your full County Loan Limits. In some cases we can make a VA Jumbo Loan up to $1.5 million. Please call for details on the VA Jumbo Program, it allows Veterans to purchase and refinance properties in higher cost areas in California and Washington such as Los Angeles, San Diego, San Francisco, Seattle, Bellevue, Kirkland, and more.
VA Loans offer benefits to all Vets, not just First Time Home Buyers
VA Loans offer benefits to all Vets, not just for First Time Homebuyers. With increased VA Loan limits and enhanced VA refinance options, VA Home Loans offer current Veteran Homeowners two opportunities:
Veterans looking to purchase a new home (ie move up VA buyer) can now take advantage of much higher VA Loan limits to purchase their primary home. We will discuss VA Loan limits further in this article.
Refinance your Non-VA Loan into a safe, fixed rate VA loan (with no mortgage insurance, and up to 90% of your homes value, and this amount can include cash out).
Veteran Homebuyers in the greater Seattle-Tacoma-Everett area can borrow up to $481,250 with our VA Jumbo Loans. Vets in Los Angeles and Orange Counties can qualify for 100% VA Financing up to $593,750. San Diego Vets can go up to $437,500, while much of the Bay Area has a much higher VA Loan limit of $962,500 (San Francisco, San Jose, Oakland, Fremont, Santa Clara, Pleasanton, Sunnyvale, etc). We are a Direct VA Lender offering VA Home Loans and VA Jumbo Home Loans in every state we service. Check your counties VA Loan limits on our main site, www.vandykfunding.com. We have been making VA Loans since 1987, go with the VA Loan Pros at VanDyk Mortgage.
Check out some of our other articles on VA Loans.
Sunday, March 7, 2010
2010 VA Loan Limits for Washington
2010 Washington State VA Loan Limits.
The Veterans Administration, in concert with some help from Congress in 2008 now allows Veterans and Active Duty Military Personnel to purchase homes in higher cost areas such as California and Washington at loan amounts much higher than the old VA limits. Some examples in King County, Washington are Seattle, Bellevue, Kirkland, Redmond, Issaquah, Kent, Auburn, Burien, Des Moines, Snoqualmie, North Bend, Sammamish, Shoreline, and Woodinville may qualify for a 100% VA Jumbo loan up to $481,250. Pierce County cities including Tacoma, Federal Way, Bonney Lake, Puyallup, Port Orchard, Spanaway, Roy, Sumner and Fife can borrow up to $481,250 with no money down when buying a house. Snohomish County Vets buying a home in Everett, Bothell, Mill Creek, Lynnwood, Edmonds, Marysville, Snohomish, Monroe, Mukilteo, and Lake Stevens Vets qualify up to $481,250 for a 100% VA Loan as well.
VanDyk Mortgage is a proud VA Lender serving many states including California, Washington, Texas, Florida, and more.
We have compiled the Washington VA Loan limits for 2010 by county below. Here is a link to our complete list of all nationwide 2010 VA Loan Limits.
STATE COUNTY 2010 VA LIMIT
WA KING $481,250
WA PIERCE $481,250
WA SAN JUAN $505,000
WA SNOHOMISH $481,250
Any county not listed is at $417,000 for the VA loan limit.
If you need a VA loan for a higher amount than your county loan limit, please call us. We do offer VA loans over the county loan limits for VA IRRRL Streamline Refinance (aka VA Streamline), Refinance and Purchase. Call Brian Skaar at 760-752-4480 to get started.
VanDyk Mortgage is a Proud VA Direct Lender. VanDyk Mortgage has been making FHA & VA 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 direct at 760-752-4480 for help with your VA or FHA loan.
We are your VA Lender & VA Jumbo Direct Lender and FHA Lender & FHA Jumbo Direct Lender and we offer FHA, FHA Jumbo, FHA Manual Underwrite, FHA Jumbo Streamline refinance, FHA Jumbo Purchase, FHA Streamline, VA, VA Streamline, VA Jumbo purchase, VA Jumbo Refinance, VA Cashout refinance, VA, Conforming & Jumbo Loans.
2010 Loan Limits for VA Borrowers in California
2010 Loan Limits for VA Borrowers in California.
The Veterans Administration, in concert with some help from Congress in 2008 now allows Veterans and Active Duty Military Personnel to purchase homes in higher cost areas such as California and Washington at loan amounts much higher than the old VA limits. Some examples in California are San Jose, San Francisco, Oakland, Fremont and much of the Bay Area may qualify for a 100% VA Jumbo loan up to $962,500. Los Angeles and Orange county cities such as Los Angeles (duh), Irvine, Anaheim, Newport Beach, Costa Mesa, Laguna, Orange, Santa Monica, Hermosa Beach, Manhattan Beach, Torrance, Pasadena, and Brea can borrow up to $593,750 with no money down when buying a house. San Diego Vets qualify up to $437,500 for a 100% VA Loan.
The Veterans Administration, in concert with some help from Congress in 2008 now allows Veterans and Active Duty Military Personnel to purchase homes in higher cost areas such as California and Washington at loan amounts much higher than the old VA limits. Some examples in California are San Jose, San Francisco, Oakland, Fremont and much of the Bay Area may qualify for a 100% VA Jumbo loan up to $962,500. Los Angeles and Orange county cities such as Los Angeles (duh), Irvine, Anaheim, Newport Beach, Costa Mesa, Laguna, Orange, Santa Monica, Hermosa Beach, Manhattan Beach, Torrance, Pasadena, and Brea can borrow up to $593,750 with no money down when buying a house. San Diego Vets qualify up to $437,500 for a 100% VA Loan.
VanDyk Mortgage is a proud VA Lender serving many states including California, Washington, Texas, Florida, and more.
We have compiled the California VA Loan limits for 2010 by county below. Here is a link to our complete list of all nationwide 2010 VA Loan Limits.
STATE COUNTY 2010 VA LIMIT
CA ALAMEDA $962,500
CA CONTRA COSTA $962,500
CA EL DORADO $418,750
CA LOS ANGELES $593,750
CA MARIN $962,500
CA MONO $512,500
CA NAPA $443,750
CA NEVADA $418,750
CA ORANGE $593,750
CA PLACER $418,750
CA SACRAMENTO $418,750
CA SAN BENITO $633,750
CA SAN DIEGO $437,500
CA SAN FRANCISCO $962,500
CA SAN LUIS OBISPO $487,500
CA SAN MATEO $962,500
CA SANTA CLARA $633,750
CA SANTA CRUZ $568,750
CA VENTURA $486,250
CA YOLO $418,750
Any county not listed is at $417,000 for the VA loan limit.
If you need a VA loan for a higher amount than your county loan limit, please call us. We do offer VA loans over the county loan limits for VA IRRRL Streamline Refinance (aka VA Streamline), Refinance and Purchase. Call Brian Skaar at 760-752-4480 to get started.
Thursday, March 4, 2010
Fannie & Freddie extend HARP Refinance program for underwater homeowners - HARP -Home Affordable Refinance Program
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.
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 http://www.vandykfunding.com/.
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