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.

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.

VA Home Loans with Fico's as low as 600 still available

VanDyk Mortgage is proud to announce that we offer VA Loans for our Veteran and Active Duty Military Borrowers with fico scores as low as 600.

Many VA Lenders have begun to require minimum Fico scores for VA Loans of 640 in recent months. This is not due to changes in the VA Loan Program, or mandates from the Veterans Administration (who oversees the VA Loan program), these are individual Lender requirements from many of the big banks & lenders (yes, the same ones we all bailed out with our Tax Dollars).

VanDyk Mortgage is proud to announce that we have VA Loans available for Borrowers with fico's as low as 600. These are available for VA Purchase, VA Refinance, or VA Cash out. Many home buyers begin the home buying process with an acceptable score for their lender such as 642, then find after the arduous homebuying process with Short Sales and REO Bank owned properties that their score has fallen below 600, and their lender can no longer help. Call us immediately in this situation, we may be able to help.

We are able to offer this program for two reasons. First, this loan will not be sold in the secondary market, so it is not subject to the additional underwriting and qualification requirements that other banks require. Second, we will underwrite all of these loans manually, not rely on automated systems.

Please keep in mind that all loans are subject to minimum qualification requirements, and that this is not an offer to lend.

VanDyk Mortgage has been making FHA & VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. VanDyk Mortgage is also a Proud VA 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 Jumbo Direct Lender and 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, 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, CA, WA, GA, FL, MO, MI, TX, 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, Oakland, Bel Air Estates, Palos Verdes Estates, Rancho Palos Verdes, Rolling Hills, Rolling Hills Estates, Manhattan Beach, Redondo Beach, Hermosa Beach, Torrance, Sacramento, Stockton, Bakersfield, Fresno, 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. VanDyk Mortgage is your FHA Lender & VA Lender of choice.

VA Jumbo Loans available over $650K

VA Jumbo Loans are available over $650K

VanDyk Mortgage offers VA Jumbo Loans up to $1,094,625 in all areas that we service. Many other VA Jumbo Lenders cap their VA loans at $417,000, or $650,000. We offer VA Jumbo Loans up to the full county limit for your area, and even go above the county limit when there is sufficient down payment and entitlement to reach your minimum 25% guarantee for the loan. Here is another post that covers that subject: The VA 417K myth.

VA Jumbo's are the best way to purchase a million dollar home with less than 20% down payment in many California counties and areas. In fact, VA Jumbos are the best way to buy a home that is over $417K in most California Counties. Here is a list of County VA Loan Limits:
VA Loan Limits by county. Call to find out how much downpayment you will need for your home purchase - 760-752-4480, ask for Brian Skaar.

We offer VA Jumbo Loans for Purchase, Refinance, and Cash-out Refinance.

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 http://www.vandykfunding.com/ to get started or just find out more.

VA Myth - VA loans are only available to $417K

VA Myth - VA loans are only available to $417K. Myth no more, read below.

It is a common myth with VA Loans is that they don't work for your area, or the loan amounts are too low for your area. In the past this was true, but recent changes have changed the picture. VA loans are available much higher than $417K.

Please see our VA Loan Limits page for details on your county limits.

The loan limits above $417,000 are called VA Jumbo Loans. While many counties in the country are limited to the $417,000 amount, that isn't the highest VA loan available for that county. VanDyk Mortgage offers VA loans up to $1,500,000 in all the states we serve. What changes is the amount of required home equity or down payment. Each case is unique depending on your VA County Loan Limit and your Home's purchase price or value.

In counties where the loan limit is lower than your purchase price or refinance loan amount, you may have to have equity (for a VA Jumbo refinance) or put a down payment (for a VA Jumbo Purchase).

So what is the benefit of using a VA loan in this scenario? - Lower down payments than conventional alternatives, fixed rates, no Mortgage Insurance.

Let's say you live in a county where the VA loan limit is $417,000 (such as Riverside or San Bernardino counties in California). You want to purchase a home that is $450,000 with as little of down payment possible. Assume that you have full VA eligibility & fully restored Entitlement. VanDyk Mortgage will allow a VA loan in this scenario up to $441,750, requiring just $8,250 down payment, or 1.83%.

The goal of the VA calculation is the reach a guarantee figure of 25% of the loan amount. This can be a combination of the Entitlement and a down payment.

Here is the math to figure this out:
1. Take your county loan limit (in this case $417,000) and multiply times 25% to reach your maximum entitlement and guaranty available ($417,000 x .25 = $104,250)
2. Take your purchase price and multiply times the minimum guaranty required. ($450,000 X .25 = $112,500)
** since this figure is higher than your maximum guaranty and entitlement from #1, we must now figure out how to handle the shortage.
3. Take #2, the Minimum required guaranty ($112,500) and subtract the available guaranty and entitlement for you ($104,250) and it yields us $8,250.

$8,250 represents the required down payment for purchasing a $450,000 property in a county with a VA loan limit of $417,000 for a Veteran or Active Duty Service Member with full Entitlement available. $8,250 is a 1.83% down payment. Now that is a huge benefit for our Veterans. This is far superior to the conventional loan alternatives or even FHA loans.

When your bank tells you that you need to put down 10% for a conventional loan,   Call VanDyk Mortgage and go with a VA loan instead. You will be glad you called.   866-900-2342 toll free.

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 Jumbo purchase loans, VA Jumbo Refinance Loans, VA Jumbo Streamline Refinance loans, VA Jumbo IRRRL , VA Mortgages of all types.

We are a Direct Lender specializing in Government Loans.  VanDyk Mortgage is also a HUD Full Eagle FHA Direct Endorsement Underwriter, ie 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, Indiana, Massachusetts, Virginia, Washington, Wyoming & More. Visit us at http://www.vandykfunding.com/ to get started or just find out more.

VA Loans - Converting your Present home into a rental

VA Loans - Converting your Present home into a rental home and buying a new primary home.

Many loan programs have limitations on qualification when converting an existing primary residence into a Rental when purchasing a new primary home. Some of the restrictions include:

• Must qualify for both mortgages with current income, with no credit for new Rent Income.
• Increased Asset Reserve requirements (6-12 months PITI reserves for both properties)

VanDyk Mortgage allows you to Purchase a new Home with a VA Loan (for eligible Vets & Active Duty Service Members), convert your current primary residence into a Rental, and use the new Rental Income to help you qualify.

***No additional reserve requirements.

***Qualify with a new Rental income on converted residence.

This opens the doors for thousands of Veterans to Reinvest in the US Housing market.

If you would like to Purchase a home with a VA loan the new 2009 VA 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. www.vandykfunding.com

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

VanDyk Mortgage is also a Proud VA 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 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, 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, CA, WA, GA, FL, MO, MI, TX, 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.

VanDyk Mortgage is your FHA Lender & VA Lender of choice.

Revised 2009 FHA Loan Limits now available

With the recent Stimulus bill passed in Congress & the Senate were provisions to return the FHA Loan Limits back to the higher levels of 2008. These higher loan limits are available immediately with VanDyk Mortgage for our FHA Jumbo Purchase Loans, FHA Jumbo Refinance loans, FHA Jumbo Streamline Refinance loans, and FHA Cash out Refinance Loans.

The revised 2009 FHA loan limits return the high end to $729,750 in higher cost counties such as Los Angeles, Santa Clara, San Francisco, Orange County, and more. San Diego County returns to a max 2009 FHA Loan Limit of $697,500.

Some of the big banks are not offering these revised loan limits yet, but VanDyk Mortgage is offering the revised 2009 Loan Limits effective immediately.

Click here to access the revised 2009 FHA Loan limits for your county.

VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. VanDyk Mortgage is also a Proud 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 loan.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, 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, CA, WA, GA, FL, MO, MI, TX, 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. VanDyk Mortgage is your FHA Lender & VA Lender of choice.

Changes to limits on number of properties financed

There have been many changes in lending the past couple of years and this post will deal with the maximum number of properties financed. Here is a quick guide to our rules on this:

Fannie Mae (FNMA) and Freddie Mac (FHLMC) have a limitation of 4 maximum properties that are financed. We interpret the rule as follows: If the subject property ( the home you are financing) is a second home or investment home, you can only have a maximum of 4 financed properties. If the home you are financing is your Primary Residence, we do not limit the number of properties that you have financing on.

Summed up: If you are purchasing or refinancing your primary residence, We do not limit the total number of properties that you have current financing on.

For VA & FHA loans, VanDyk Mortgage does not have limitations on the total number of properties you have financed. Keep in mind that you are limited on how many FHA Loans you can have outstanding at one time, and also how many VA loans you can have outstanding at one time. If you have had a FHA or VA loan that have been paid off or refinanced into another type of loan, you can reinstate your eligibility for FHA or VA financing again. Call us for details.

Coming soon: Fannie Mae is changing it's guidelines to allow those purchasing or refinancing Investment properties & second homes to allow up to TEN financed properties. stay tuned!

VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. VanDyk Mortgage is also a Proud 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 loan.

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, 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, CA, WA, GA, FL, MO, MI, TX, 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. VanDyk Mortgage is your FHA Lender & VA Lender of choice.

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.

100% Cash out Refinance - VA Enhancements

You read the headline correct: VA now allows 100% cash out refinances. VA refinances are no longer capped at 90% of your current appraised value. This change will allow Veterans, Active Duty Members & Reservists the option to refinance their non VA loans into safe, secure, fixed rate VA Loans. VA Loans have no MI or Mortgage Insurance.

Even better news: The previous limit of $144,000 on VA refinances has been lifted, and the limit is now the VA Loan limit for your county. Click here to see your limit: New VA loan limits for 2009 Blog Post .

The Entitlement and Guarantee equations have been adjusted slightly as well to facilitate Refinances over $144K as well. I will post some scenarios in a future blog to illustrate this.

We are very excited about the enhanced possibilities for our Veterans.

Please call Brian Skaar at 760-752-4480 or visit us online at www.vandykfunding.com to find out more.

VanDyk Mortgage is a VA Direct Lender (since 1987). We are the VA Experts. We offer VA loans accross America including: California, Washington, Arizona, Texas, Florida, Georgia, & more.

New 2009 VA Loan Limits - a snapshot

New VA Loan Limits for 2009 are now available.

The new limits range from the base limit of $417,000 up to $1,094,625 in the highest cost areas.

All VA loans require ZERO Mortgage Insurance, and as little as ZERO down payment.

Here are some of the new county limits:

CA
ALAMEDA
$1,094,625.00

CA
ALPINE
$503,750.00

CA
CONTRA COSTA
$1,094,625.00

CA
EL DORADO
$516,250.00

CA
LOS ANGELES
$737,500.00

CA
MARIN
$1,094,625.00

CA
MONO
$575,000.00

CA
MONTEREY
$525,000.00

CA
NAPA
$643,750.00

CA
NEVADA
$518,750.00

CA
ORANGE
$737,500.00

CA
PLACER
$516,250.00

CA
SACRAMENTO
$516,250.00

CA
SAN BENITO
$937,500.00

CA
SAN DIEGO
$593,750.00

CA
SAN FRANCISCO
$1,094,625.00

CA
SAN LUIS OBISPO
$610,000.00

CA
SAN MATEO
$1,094,625.00

CA
SANTA BARBARA
$656,250.00

CA
SANTA CLARA
$937,500.00

CA
SANTA CRUZ
$805,000.00

CA
SOLANO
$435,000.00

CA
SONOMA
$566,250.00

CA
VENTURA
$650,000.00

CA
YOLO
$516,250.00


FL
COLLIER
$487,500.00

FL
MONROE
$575,000.00

GA
GREENE
$560,000.00


WA
KING
$550,000.00

WA
PIERCE
$550,000.00

WA
SAN JUAN
$525,000.00

WA
SNOHOMISH
$550,000.00

The maximum guaranty amount (available for loans over $144,000) is 25 percent of the 2009 VA Limit shown below. Therefore, a veteran with full entitlement available may borrow up to the 2009 VA Limit shown below and VA will guarantee 25 percent of the loan amount. If a veteran has previously used entitlement that has not been restored, the maximum guaranty amount available to that veteran must be reduced accordingly.

VanDyk Mortgage is a Direct VA lender, and has been making VA Loans since 1987. Visit us on the web for more info or to apply for your VA Loan at http://www.vandykfunding.com/