Use your VA Home Loan Benefit in Orange County -part 2 - refinance your home with a VA Loan

Use your VA Home Loan Benefit in Orange County -part 2 - refinance your home with a VA Loan

The VA Home Loan benefit is a great opportunity for Orange County Veterans and Active Duty Military to refinance an OC home or Orange County condo. We thought it would be a good idea to quickly review the benefits of VA Loans, and a few ways to use them to your benefit.

VA Loans require zero downpayment up to $593,750 in Orange County.

• VA Refinance Loans - available up to 90% of your homes value
• VA Jumbo Refinance Loans - also available up to 90% of your homes value with corresponding amount of home equity. these are also know as VA High Balance loans.
• VA IRRRL Streamline Refinance Loans - Refinance into a lower rate with reduced documentation requirements, up to $1.5M in Orange County.

However,Veterans are not limited to the Orange County Loan limit of $593,750 for VA Loans. We offer VA Jumbo Loans up to $1.5 Million with the appropriate downpayment or equity to reach the VA Guarantee requirements of 25% of the loan amount. Here is one of our posts on how you can get a VanDyk Mortgage VA Loan over your county limit.

Here are a few ways to use your VA home loan Benefit in Orange County to refinance a home:

1. VA Loan to Refinance a single family home with up to $417K loan amount with no PMI (90% ltv)
2. VA Jumbo Loan to Refinance a home up to a $593,750 loan amount no MI required. (90% ltv)
3. VA Loan to refinance a Condo in Orange County - up to $417,000 loan amount no MI required.
4. VA Jumbo Loan to refinance your Orange County Condo up to $593,750 loan amount with no MI required.
5. VA Jumbo Loan to Refinance a $750,000 home in Orange County with a loan amount up to $675K with no MI
6. VA Jumbo Loan to Refinance a $1M home in Orange County with a loan amount up to $900K with no MI
7. Refinance your current VA Loan or VA Jumbo Loan using the VA IRRRL Streamline Refinance - Market rates are the lowest on record - Call for today's rates, they will surprise you.
8. Use a VA refinance to refinance out of an Adjustable Rate Mortgage - Up to 90% loan to value - with zero Mortgage Insurance required.
9. Use a VA refinance to consolidate your first and second mortgage with no extra charge to interest. This consolidation is considered Cash Out for Conforming Loans and has additional restrictions, VA Allows this up to 90% LTV.
10. Use the VA Jumbo Loan to take advantage of the lowest 30 year fixed rates on record (call for actual rates, they will shock you). Available up to $1.5M in Los Angeles with a suitable combination of Equity and guarantee. Check out some actual VA Jumbo Loan Refinance scenario's here.

VA Home Loan info for Orange County, California:

• Active Duty Military and Veterans can both qualify
• 100% financing up to $593,750
• A $825k Orange County Home Purchase would only require $57,812 downpayment (7.01%) - not including the VA Funding Fee
• VA Loans require no Mortgage Insurance
• VA Loans do require a VAFF (VA Funding Fee), which is usually financed
• Veterans with a 10% or higher VA disability pay no VA Funding fee
• VA Loans are not just for first time homebuyers
• VA Jumbo Loans are offered at competitive rates that will surprise you, in a good way.
• Sellers can pay up to 4% of the VA Buyers closing costs
• VA Loans can be used to purchase VA Approved Condominiums with zero down

VanDyk is your source for VA backed Condo loans. We also do not have a waiting period for "flips". This is often called the Flip Rule or VA Flip Rule. VanDyk does not require the seller of a property to wait 90 days before allowing a VA buyer to purchase the property, only 1 day.

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 serve the entire states of California and Washington for VA Loans, including Los Angeles, San Francisco, Pasadena, Long Beach, San Jose, San Diego, Huntington Beach, Anaheim, Orange, Santa Ana, Oakland, Fresno, Bakersfield, Riverside, Lancaster, Sacramento, Seattle, Tacoma, Spokane, and everything in between.

Here is a link to part one of our series: Using your VA loan benefit to purchase a home in Orange County

VA Loan info - Riverside California VA Lender

VA Loan Info - Riverside, California VA lender

Riverside -CA- VA Loans & VA Jumbo Home Mortgage Loans - VanDyk Mortgage - California VA Lender & VA Jumbo Lender. VanDyk Mortgage is your source for VA Loans and VA Jumbo Loans in Riverside. We have been making VA loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Riverside Homebuyers and Riverside Homeowners to Purchase and refinance homes..

• VA purchase Loans
• VA Refinance Loans
• VA IRRRL Streamline Refinance
• VA Jumbo purchase Loans
• VA Jumbo Refinance Loans
• VA Jumbo IRRRL Streamline Refinance
• VA Condo Loans

VA Jumbo Loans are also called VA High Balance Loans. These are VA Loans that are $417,001 and higher (up to $1.5M).

Riverside VA Loans are available up to $417,000 with zero downpayment. The Riverside VA Loan Limit in 2010 is $417,000. However, Veterans are not limited to the Riverside Loan limit of $417,000 for VA Loans. We also offer VA Jumbo Loans up to $1.5 Million with the appropriate downpayment or equity to reach the VA Guarantee requirements of 25%. Here is one of our posts on how you can get a VanDyk Mortgage VA Loan over your county limit.

VanDyk Mortgage Allows VA Flips - IE no seller seasoning. Read our article on VA Flipping Rules here.

Here are some links to local Riverside information:

• Riverside City Website
• Riverside Crime Maps
• Riverside Statistics, Demographics, & Info
• Riverside Real Estate
• Riverside School info
• Riverside Wiki

Riverside VA Home Loan information

VA Home Loans in Riverside, California:

• Active Duty Military and Veterans can both qualify
• 100% financing up to $417,00
• A $500K Riverside Home Purchase would only require $20,750 downpayment (4.15%) - not including the VA Funding Fee
• VA Loans require no Mortgage Insurance
• VA Loans do require a VAFF (VA Funding Fee), which is usually financed
• Veterans with a 10% or higher VA disability pay no VA Funding fee
• Sellers can pay up to 4% of the VA Buyers closing costs

Give us a call at 760-752-4480 direct, ask for Brian Skaar to see if a VA Loan is the right loan for you. Visit us on the web at www.vandykfunding.com

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

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 loans, FHA Jumbo, FHA Jumbo Purchase, FHA Jumbo Refinance, FHA Jumbo Streamline Refinance, FHA High Balance, and FHA mortgages of all types. Visit us at www.vandykfunding.com to get started or just find out more information.

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 VA loan. We offer VA, VA Jumbo, FHA, FHA Jumbo, Conforming & Jumbo Loans. VanDyk Mortgage offers FHA, VA, & Conventional loans in addition to FHA Jumbo, VA Jumbo, and Conforming Jumbo loans (aka FHA High Balance, VA High Balance, and Conforming High Balance).

VA Loan Benefit info for California Veterans to buy Homes in CA

VA Loan Benefit Info for California Veterans and CA Active Duty Military to buy homes

California Veterans and CA Active Duty Military Personnel have access to higher VA guarantee limits than many other states. The higher VA Guarantee allows California Vets the opportunity to purchase a home with zero downpayment up to $962,500 in select Bay Area Counties such as San Francisco, San Mateo, Contra Costa, Marin, and Alameda. Los Angeles VA Loans are available up to $593,750 with no down payment.

We are also able to exceed the VA County VA Loan limit with downpayment of 25% of the difference between your purchase price and the VA loan limit for your area. VanDyk Mortgage is a proud VA Lender serving many states including California and Washington, and more. We are a VA Direct Lender.

In 2008, the US Congress authorized increases in the VA Loan Benefit by increasing the Entitlement available to Vets in higher cost areas. This allows us to write VA Loans that are guaranteed by the VA up to the full county loan limit with no downpayment for qualified Veterans.

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.

VA loans can be used to purchase condominiums up to your full benefit as well.

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 up to $1.5M. Call Brian Skaar at 760-752-4480 to get started.

VA loans fast becoming the best choice for Vets to Refinance

VA loans are fast becoming the best choice for Vets to Refinance their home loans.

Recent enhancements to VA guidelines now allow Veterans and Active Duty Military to refinance out of Conventional, Jumbo, Sub-Prime, Alt-A, Option ARM, and other non VA loans into Safe fixed rate VA Loans. (see our recent post on VA loan changes here). The old VA Limit for these refinances was $144000, regardless of where you lived and your county loan limit.

2009 brought changes to both the VA Loan limits and the way VA calculates your eligibility for Guarantee. If you have full elibility (or fully restored entitlement) you can purchase or refinance up to the Loan Limit for your county (of course, other qualifications do apply such as property value, income, liabilities, etc).

Here is a list of all the counties in California that exceed the $417,000 standard VA loan maximum: ALAMEDA $1,094,625, ALPINE $503,750, CONTRA COSTA $1,094,625, EL DORADO $516,250, LOS ANGELES $737,500, MARIN $1,094,625, MONO $575,000,
MONTEREY $525,000, NAPA $643,750, NEVADA $518,750, ORANGE $737,500, PLACER $516,250, SACRAMENTO $516,250, SAN BENITO $ 937,500, SAN DIEGO $593,750, SAN FRANCISCO $1,094,625, SAN LUIS OBISPO $610,000, SAN MATEO $1,094,625, SANTA BARBARA $656,250, SANTA CLARA $937,500, SANTA CRUZ $805,000, SOLANO $435,000, SONOMA $566,250, VENTURA $650,000, all other California counties are capped at $417K.


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 offer FHA & VA loans in California, Georgia, Texas, Washington, & More. Visit us at www.vandykfunding.com to get started or just find out more.

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.