Renovation Loans - The solution for REO's, Bank owned, & foreclosures

VanDyk Mortgage is proud to offer our Homestyle Renovation loan. This is a conventional loan that can help you finance the renovation of a new home purchase, or an existing home with a Refinance that includes monies to fix, repair, rehab or renovate your home.

You will qualify for this loan much like a standard Conventional Conforming loan. The nice aprt is that you can add in funds to your loan amount to complete small (minimum $15,000) to large amount (maximum $250,000) renovation projects.

The Scope of work for the Rehabilitiation or Renovation project can include virtually anything that will bring a house to your specs or meet your dreams.

These loans are available up to the Conforming limit of $417,000. We do require a Full Builder Third party contract for completion of the work, no owner-builder or family-builder option is available at this time. You are required to make all normal payments during the construction period.

These loans are a great alternative to the FHA 203K rehab loan. In addition, if you have 20% down payment, you will avoid Mortgage Insurance with the Homestyle renovation loan.

This is a fantastic way to purchase a Bank Owned, REO, Foreclosure, Short Sale, Tax sale, probate sale, or otherwise distressed property, and include the funds to renovate & rehabilitate the property to like new condition (or better in many cases!). This loan does not require a HUD Consultant inspection, however project review & quality appraisal work is required.

The VanDyk HomeStyle Renovation loan is available for primary homes, second homes, investment homes, Single family, duplex (2 unit), triplex (3 unit), fourplex (4 unit), condo's, & PUD's.

Apply online at www.vandykfunding.com. Call the Renovation & Government Loan experts to find out how to structure your next purchase.

VanDyk Mortgage is a VA Direct Lender (since 1987) offering VA Loans such as VA purchase loans, VA Streamline Refinance, VA IRRRL, VA Refinance Loans, VA Mortgages of all types. As a Government Direct Lender, VanDyk Mortgage is also a HUD Full Eagle FHA Direct Endorsement Underwriter, ie FHA Direct Lender offering FHA Loans such as FHA Purchase loans, FHA Refinance, FHA Streamline Refinance, FHA 203K Streamline Rehab loans, FHA Jumbo, FHA Jumbo Purchase, FHA Jumbo Refinance, FHA Jumbo Streamline Refinance, FHA mortgages of all types. We also offer Direct Lender Loans such as Conforming Fixed, Super Conforming Fixed, Jumbo, USDA, Homestyle Renovation Loans, the VanDyk Rehab loan, and more. We offer conforming, FHA & VA loans in California, Georgia, Texas, Washington, & More. Visit us at www.vandykfunding.com to get started or just find out more.

Rehab Loans for Investors

Rehab Loans for Investors - Buy, fix, & sell homes.

We now have a source that offers Investors the Cash to purchase & rehabilitate homes. With this loan, you can buy the home and get the funds for the rehab project all in one loan.

Let's say you have found a home for sale that is in dire need of serious work. It needs a new roof, kitchen remodel, bathroom remodel, etc. The home is available for $110K. Let's assume that if it was in good shape it would be worth $200K. It needs 35K in repairs. This rehab loan can lend you the money to buy it ($110K) and the money to repair it ($35K) all in one shot.

After completion of one successful Rehab project and subsequent sale of property, you may qualify for an open line of credit to purchase more projects to rehab & sell.

This loan is a key ingredient for Home Flippers. It gives you the financing help to make your project successful & profitable.

These loans are not designed for owner occupied or second homes. Investment properties only, and 1-4 unit residential properties. This loan has no prepayment penalty.

The initial key to how much you can borrow is up to 75% of the After Rehab Value. (50% of the ARV in Detroit & select other markets).

Call us to get started - 760-752-4480 or send us an email at rehab@vandykfunding.com.