FHA Flip rule - We allow FHA Flips per the FHA Flip Rule Waiver

FHA Flip rule - 1 day owned by seller OK

The Seller seasoning requirement on our FHA Loans is one day. That is correct, one day. While FHA has released guidance for lenders allowing the Flip Rule to be Waived for all Sellers until Feb 1, 2011, many lenders still require that sellers own a home for 90-180 days before it is eligible for their FHA Financing. We do not require these waiting periods for FHA Loans.

Seller Seasoning simply means how long the current owner has owned the property (as recorded on Title Records). Seller seasoning is also called Owner seasoning. The contract date must be after the date of acquisition for the seller, a redated contract is not allowable.

This is in complete alignment with the HUD guidelines for FHA Loans. The other lenders that have added restrictions are reducing the eligibility for Homebuyers to use FHA Loans to purchase homes from investors who may have purchased the home at a foreclosure auction, or direct from a bank. This opens the door for more homes to be eligible for safe, secure, and sound FHA financing. Many of these homes have been completely rehabilitated, making them a more desirable home to buy: they are Turn key homes.

Our FHA Rules can help you avoid the issue of FHA seller seasoning, FHA Flip Rules, and big bank rules that restrict access to quality FHA Loans.

Get started on your FHA Home loan with the FHA Loan Pros at VanDyk. Visit us at http://www.vandykfunding.com/ to apply online, or call 760-752-4480 and ask for Brian Skaar.

There are some guidelines for FHA Flips under 90 days that will require some attention. If the home increased in price more than 20% from the sellers acquisition cost, the increase in price will need to be justified with renovation records, the sale must be arms-length (No Idendity of Interest between buyer and seller), multiple flipping within previous 12 months is a red flag, no assignment of contracts, property inspection may be required, and buyer's agent cannot be the seller of the home.

VanDyk Mortgage is a FHA Direct Lender offering FHA & FHA Jumbo Loans throughout our lending areas including California, Washington, Los Angeles, San Diego, Riverside, Temecula, Murrieta, Orange County, San Jose, San Francisco, Seattle, Puyallup, Auburn, Kent, Everett, Tacoma, and everything in between.

Our FHA Jumbo Loans are not capped at $650k

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.

California FHA Loan Limits for 2010

VanDyk offers FHA Loans up to the full FHA loan limit for every county that we serve. FHA Loans for single family homes are available up to $729,750 in higher cost counties such as Los Angeles, San Francisco, Alameda, Contra Costra, Monterey, Orange County, Santa Clara, Santa Cruz, Ventura, San Benito, Marin, and Santa Barbara. San Diego Homebuyers and Homeowners can get FHA Loans up to $697,500, Riverside and San Bernardino up to $500,000, Sacramento, El Dorado, and Placer counties up to $580,000. Here is a list of the FHA loan limits for Single Family, Duples, Tri-plex and Four-Plex for all California counties:

County Name Single Family Duplex Tri-plex Four-plex


--------------------------------------------------------------------------------

ALAMEDA $729,750 $934,200 $1,129,250 $1,403,400
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION


--------------------------------------------------------------------------------

ALPINE $547,500 $700,900 $847,200 $1,052,900
NON-METRO


--------------------------------------------------------------------------------

AMADOR $443,750 $568,050 $686,650 $853,350
NON-METRO


--------------------------------------------------------------------------------

BUTTE $400,000 $512,050 $618,950 $769,250
CHICO, CA (MSA)


--------------------------------------------------------------------------------

CALAVERAS $462,500 $592,050 $715,700 $889,450
NON-METRO


--------------------------------------------------------------------------------

COLUSA $397,500 $508,850 $615,100 $764,400
NON-METRO


--------------------------------------------------------------------------------

CONTRA COSTA $729,750 $934,200 $1,129,250 $1,403,400
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION


--------------------------------------------------------------------------------

DEL NORTE $311,250 $398,450 $481,650 $598,550
CRESCENT CITY, CA (MICRO)


--------------------------------------------------------------------------------

EL DORADO $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA (MSA)


--------------------------------------------------------------------------------

FRESNO $381,250 $488,050 $589,950 $733,150
FRESNO, CA (MSA)


--------------------------------------------------------------------------------

GLENN $287,500 $368,050 $444,900 $552,900
NON-METRO


--------------------------------------------------------------------------------

HUMBOLDT $393,750 $504,050 $609,300 $757,200
EUREKA-ARCATA-FORTUNA, CA (MICRO)


--------------------------------------------------------------------------------

IMPERIAL $325,000 $416,050 $502,900 $625,000
EL CENTRO, CA (MSA)


--------------------------------------------------------------------------------

INYO $437,500 $560,050 $677,000 $841,350
BISHOP, CA (MICRO)


--------------------------------------------------------------------------------

KERN $368,750 $472,050 $570,600 $709,150
BAKERSFIELD, CA (MSA)


--------------------------------------------------------------------------------

KINGS $325,000 $416,050 $502,900 $625,000
HANFORD-CORCORAN, CA (MSA)


--------------------------------------------------------------------------------

LAKE $401,250 $513,650 $620,900 $771,650
CLEARLAKE, CA (MICRO)


--------------------------------------------------------------------------------

LASSEN $285,000 $364,850 $441,000 $548,050
SUSANVILLE, CA (MICRO)


--------------------------------------------------------------------------------

LOS ANGELES $729,750 $934,200 $1,129,250 $1,403,400
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN D


--------------------------------------------------------------------------------

MADERA $425,000 $544,050 $657,650 $817,300
MADERA, CA (MSA)


--------------------------------------------------------------------------------

MARIN $729,750 $934,200 $1,129,250 $1,403,400
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI


--------------------------------------------------------------------------------

MARIPOSA $412,500 $528,050 $638,300 $793,250
NON-METRO


--------------------------------------------------------------------------------

MENDOCINO $512,500 $656,100 $793,050 $985,600
UKIAH, CA (MICRO)


--------------------------------------------------------------------------------

MERCED $472,500 $604,900 $731,150 $908,650
MERCED, CA (MSA)


--------------------------------------------------------------------------------

MODOC $271,050 $347,000 $419,425 $521,250
NON-METRO


--------------------------------------------------------------------------------

MONO $529,000 $677,200 $818,600 $1,017,300
NON-METRO


--------------------------------------------------------------------------------

MONTEREY $729,750 $934,200 $1,129,250 $1,403,400
SALINAS, CA (MSA)


--------------------------------------------------------------------------------

NAPA $729,750 $934,200 $1,129,250 $1,403,400
NAPA, CA (MSA)


--------------------------------------------------------------------------------

NEVADA $562,500 $720,100 $870,450 $1,081,750
TRUCKEE-GRASS VALLEY, CA (MICRO)


--------------------------------------------------------------------------------

ORANGE $729,750 $934,200 $1,129,250 $1,403,400
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION


--------------------------------------------------------------------------------

PLACER $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA (MSA)


--------------------------------------------------------------------------------

PLUMAS $410,000 $524,850 $634,450 $788,450
NON-METRO


--------------------------------------------------------------------------------

RIVERSIDE $500,000 $640,100 $773,700 $961,550
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)


--------------------------------------------------------------------------------

SACRAMENTO $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA (MSA)


--------------------------------------------------------------------------------

SAN BENITO $729,750 $934,200 $1,129,250 $1,403,400
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA)


--------------------------------------------------------------------------------

SAN BERNARDINO $500,000 $640,100 $773,700 $961,550
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)


--------------------------------------------------------------------------------

SAN DIEGO $697,500 $892,950 $1,079,350 $1,341,350
SAN DIEGO-CARLSBAD-SAN MARCOS, CA (MSA)


--------------------------------------------------------------------------------

SAN FRANCISCO $729,750 $934,200 $1,129,250 $1,403,400
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI


--------------------------------------------------------------------------------

SAN JOAQUIN $488,750 $625,700 $756,300 $939,900
STOCKTON, CA (MSA)


--------------------------------------------------------------------------------

SAN LUIS OBISPO $687,500 $880,100 $1,063,850 $1,322,150
SAN LUIS OBISPO-PASO ROBLES, CA (MSA)


--------------------------------------------------------------------------------

SAN MATEO $729,750 $934,200 $1,129,250 $1,403,400
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI


--------------------------------------------------------------------------------

SANTA BARBARA $729,750 $934,200 $1,129,250 $1,403,400
SANTA BARBARA-SANTA MARIA, CA (MSA)


--------------------------------------------------------------------------------

SANTA CLARA $729,750 $934,200 $1,129,250 $1,403,400
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA)


--------------------------------------------------------------------------------

SANTA CRUZ $729,750 $934,200 $1,129,250 $1,403,400
SANTA CRUZ-WATSONVILLE, CA (MSA)


--------------------------------------------------------------------------------

SHASTA $423,750 $542,450 $655,700 $814,900
REDDING, CA (MSA)


--------------------------------------------------------------------------------

SIERRA $304,750 $390,100 $471,550 $586,050
NON-METRO


--------------------------------------------------------------------------------

SISKIYOU $293,750 $376,050 $454,550 $564,900
NON-METRO


--------------------------------------------------------------------------------

SOLANO $557,500 $713,700 $862,700 $1,072,150
VALLEJO-FAIRFIELD, CA (MSA)


--------------------------------------------------------------------------------

SONOMA $662,500 $848,100 $1,025,200 $1,274,050
SANTA ROSA-PETALUMA, CA (MSA)


--------------------------------------------------------------------------------

STANISLAUS $423,750 $542,450 $655,700 $814,900
MODESTO, CA (MSA)


--------------------------------------------------------------------------------

SUTTER $425,000 $544,050 $657,650 $817,300
YUBA CITY, CA (MSA)


--------------------------------------------------------------------------------

TEHAMA $312,500 $400,050 $483,550 $600,950
RED BLUFF, CA (MICRO)


--------------------------------------------------------------------------------

TRINITY $271,050 $347,000 $419,425 $521,250
NON-METRO


--------------------------------------------------------------------------------

TULARE $325,000 $416,050 $502,900 $625,000
VISALIA-PORTERVILLE, CA (MSA)


--------------------------------------------------------------------------------

TUOLUMNE $437,500 $560,050 $677,000 $841,350
PHOENIX LAKE-CEDAR RIDGE, CA (MICRO)


--------------------------------------------------------------------------------

VENTURA $729,750 $934,200 $1,129,250 $1,403,400
OXNARD-THOUSAND OAKS-VENTURA, CA (MSA)


--------------------------------------------------------------------------------

YOLO $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA (MSA)


--------------------------------------------------------------------------------

YUBA $425,000 $544,050 $657,650 $817,300
YUBA CITY, CA (MSA)


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.

Loan Limits Extended through 2010 by Congress

Loan Limits Extended through 2010 by Congress


Today, Congress approved an extension of higher loan limits for FNMA, FHLMC, and FHA (Fannie Mae, Freddie Mac & FHA) that will extend the current loan limits in place for 2009 to the end of 2010. This will help avoid any disruption in the mortgage market as the housing sector tries to recover.


The loan limits for your area can be found by clicking on the following links:
FHA Loan Limits for high cost counties
Fannie & Freddie Loan Limits for high cost counties
VA Loan limits for high cost counties


VanDyk Mortgage offers FHA Jumbo, Conventional Jumbo (Fannie & Freddie), and VA Jumbo loans in all areas that we service. The VA Jumbo Loan limits are not official yet, but they are based on the GSE Loan limits approved by this bill, so we anticipate no changes to VA limits.


The extended 2009/2010 FHA/Fannie Mae/Freddie Mac loan limits retain the high end at $729,750 in higher cost counties such as Los Angeles, Santa Clara, San Francisco, Orange County, Bay Area cities, and more. San Diego County remains at a max 2009 FHA Loan Limit of $697,500 for a single family residence.



The extended 2009/2010 VA loan limits retain the high end at $737,500 in higher cost counties such as Los Angeles and Orange County, $1,094,625 in San Francisco, San Mateo, Marin, Alameda, & Contra Costa Counties, $937,500 in San Benito & Santa Clara counties, $805,000 in Santa Cruz county, and more. San Diego County remains at a max VA Loan Limit of $593,750 for a single family residence for 2010. Here is a post on the 2009 VA limits that may be helpful.

We are very excited about these enhanced possibilities for our Veterans & Active Duty Personnel. 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.

FHA Jumbo Refinance, FHA Jumbo Purchase loans & FHA Jumbo Streamline Refinance loans - California

FHA Jumbo Refinance, FHA Jumbo Purchase loans & FHA Jumbo Streamline Refinance loans - California

We are continuing to see the FHA Jumbo Refinance become a more common option for California Homeowners. This loan allows you to refinance your first mortgage into a Safe, Fixed Rate FHA Loan at terms that are typically more favorable than conventional lending options. If your home has come down in value, the FHA option may still be able to help you refinance out of your Adjustable rate loan. FHA requires less equity in your home than Conventional loans.

FHA Jumbo Loans are loans that are $417,001 up to your county's Mortgage limit. For example, in California, the FHA Jumbo Loan limit is $697,500 for San Diego, $729,750 for Los Angeles, $729,750 for Orange County, $729,750 for Ventura, Santa Clara, San Francisco, Santa Cruz, Contra Costa, Alameda, & Napa counties, and San Bernardino & Riverside counties are eligible up to $500,000.

VanDyk Mortgage is able to help with FHA Jumbo Loans for the purchase of your new home. Please visit our 2009 FHA Loan Limit page for details on your county. These loans require just 3.5% downpayment. Call for details to see if it could be your best choice.

FHA Jumbo Streamline Refinances with VanDyk Mortgage do not have a minimum time requirement since you purchased your home (or last refinanced). These can save you hundreds per month with no appraisal or income qualifying. We do require a good mortgage payment history.

FHA Jumbo Refinances are available to help: Consolidate debts, Consolidate a first & second mortgage, or Refinance your Non-FHA loan into a Safe FHA fixed rate loan.

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

FHA refinances - OK to leave second mortgage in place

FHA refinance - what do I do with my second mortgage?
Answer: FHA refinances - OK to leave second mortgage in place.

With many American families losing equity in their homes, and the loose lending practices of the past few years by the big banks, FHA home loans have become the standard again for both Homebuyers and Home owners wishing to refinance.

One of the myth's about FHA financing is that it is for First Time Home Buyers to purchase homes only. The mission of the FHA (Federal Housing Administration), which is supervised by HUD is to help American Families achieve & maintain homeownership. Achieve = FHA Purchase, Maintain = FHA Refinance.

Many families purchased homes during the past few years using a 80/20 combination loan, utilizing a first mortgage / second mortgage combo to reduce the downpayment requirement. With home values dropping in many areas, families may be upside down, and may have been told by their bank that they cannot refinance their first mortgage since their isn't enough equity in the home to also pay off the second mortgage. Enter FHA. With FHA loans, we can refinance your first mortgage into a safe, secure FHA fixed rate mortgage and leave your second mortgage in place.

One caveat: your second mortgage lender must agree to "resubordinate" their second lien behind the new FHA Loan. Many second lien lenders are willing to do this (resubordinate behind a new FHA Loan), as they want to protect their investment. Their unwillingness may lead to more families making the difficult decision to sell via Short Sale or let their home go into foreclosure. In these cases, the second lien holder often receives little or no money, as the home has dropped in value.

The FHA refinance offers stability, security, and safety for homeowners.

Here is an example of how this works:
Joe & Suzy Homeowner bought their home for $400K in 2004 with a 80/20 loan. First Mortgage is a 5yr adjustable rate mortgage (ARM) for $320K, and the second is a fixed rate second at $80K. Their first mortgage is approaching the first Rate Adjustment Change in 2009, and they don't feel they can afford the new payment. ** CALL US NOW, before you get into trouble! Their home is now worth $340K, so their big bank tells them they do not have a refinance option due to lack of equity in their home. Enter the FHA experts at VanDyk Mortgage. We refinance your First Mortgage into a safe, secure, Fixed rate FHA Loan, and negotiate with the second lien holder to resubordinate behind the new FHA Loan.

Summed up: We can refinance your first mortgage into a new FHA Loan and leave the existing second mortgage in place. The Combined Loan to Value (CLTV) of your FHA loan and existing second mortgage can exceed 100% of your homes value.

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 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.

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.

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.

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.

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.

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.

100% financing in California

100% financing in California. It still exists.

Fannie, Freddie, & the Private Mortgage Insurance companies have limited California purchases to a minimum of 10% down payment, or a maximum of 90%.

For Veterans & Active Duty Service members the VA loan still offers 100%, no money down financing in California. Recent enhancements for 2009 loans have increased the loan limits, and your entitlement might be higher that you thought. For example, San Diego VA loans are available up to $593,750, Los Angeles up to $737,500, Orange County up to $737,500, and San Bernardino / Riverside up to $417,000.

For non-Military, FHA is an incredible option for Home ownership at just 3.5% downpayment required.

VanDyk Mortgage is a Direct VA Lender and Direct FHA Lender. www.VanDykFunding.com