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.

Temecula FHA Lender - Temecula VA Lender - California VA Loans and FHA Loans

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

• FHA & FHA Jumbo (aka High Balance)


• VA & VA Jumbo (aka High Balance)


• Conforming & Conforming Jumbo (aka High Balance or Super Conforming)


• Jumbo Loans to $3m

Temecula FHA Loans are available up to $500,000 with just 3.5% down payment. The FHA 2010 Loan Limit for Temecula is $500,00. Temecula FHA Loans that are over $417K up to $500,000 are called FHA Jumbo or FHA High Balance loans.

Temecula VA Loans are available up to $417,000 with zero downpayment. The Temecula VA Loan Limit in 2010 is $417,000. However, Veterans are not limited to the Temecula 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.

Temecula Conforming Loans are available up to $500,000. The Temecula Conforming Jumbo Loans (aka Conforming High Balance, those over $417,000 and up to $500,00) require a minimum of 10% downpayment or equity.

Temecula is located in South Riverside County. It has it's own Temecula Wine Country boasting many local wineries in the Temecula Valley. Nearby Cities include Murrieta, Wildomar, Winchester, French Valley, Aguanga, Rainbow, Fallbrook, Sun City, Hemet, Menifee and more.

Here are some links to local Temecula information:

• Temecula City Website


• Temecula History and city Site


• Temecula Crime Maps


• Temecula Statistics, Demographics, & Info


• Temecula Real Estate


• Temecula School info


• Temecula Wiki

Temecula Home Loan information

FHA Home loans in Temecula, California:

• FHA Home Loans require just 3.5% downpayment


• FHA Jumbo Loans up to $500,000 (aka FHA High Balance)


• The $500,000 is the base loan amount - the Temecula FHA Loan Limit of $500,000 does not have to include the UFMIP (FHA's Upfront Mortgage Insurance Premium, which is usually financed into your loan amount)


• The Seller can pay up to 3% of your closing and settlement costs.


• Minimum score for a FHA Home Loan is just 620, even on FHA High balance or FHA Jumbo.


• You can receive a gift of funds for your Downpayment and closing costs from Family


• FHA Condominium requirements include at least a 51% owner occupancy ratio, no outstanding lawsuits against the Homeowners Association - call for details.


• FHA Loans allow non-occupying co-borrowers such as parents and siblings.

VA Home Loans in Temecula, California:

• Active Duty Military and Veterans can both qualify


• 100% financing up to $417,00


• A $500K Temecula 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

Conforming Home Loans in Temecula, California:

• Available up to $500,000 with the Conforming High Balance (aka conforming Jumbo)


• Temecula Conforming loans available up to $417,000


• require a minimum of 10% downpayment or up to 90% LTV


• Allow for condominiums, Second Homes, and investment properties


• Call for details on Fico score requirements, downpayment requirements, etc

** please visit our post on Conforming vs Conventional to help explain the difference between these two terms, they are often misused in the media and web.

Temecula Zip codes include 92589, 92590, 92591, 92592, and 92593. Temecula Area codes include the 951 area code, and to the east is the 442 area code.

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

VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. We are also a VA Lender and VA Jumbo 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 or VA loan. 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, San Diego, Temecula, San Marcos, Oceanside, Vista, Escondido, Fallbrook, Bonsall, San Diego, Rancho Bernardo, Poway,Encinitas, Carmel Valley, Scripps Ranch, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Temecula, Murrieta, and Valley Center. 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).

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

Murrieta VA Loans and FHA Home Mortgage Loans - VanDyk Mortgage - California VA Lender & FHA Lender

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

• FHA & FHA Jumbo (aka High Balance)


• VA & VA Jumbo (aka High Balance)


• Conforming & Conforming Jumbo (aka High Balance or Super Conforming)


• Jumbo Loans to $3m

Murrieta FHA Loans are available up to $500,000 with just 3.5% down payment. The FHA 2010 Loan Limit for Murrieta is $500,00. Murrieta FHA Loans that are over $417K up to $500,000 are called FHA Jumbo or FHA High Balance loans.

Murrieta VA Loans are available up to $417,000 with zero downpayment. The Murrieta VA Loan Limit in 2010 is $417,000. However, Veterans are not limited to the Murrieta 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.

Murrieta Conforming Loans are available up to $500,000. The Murrieta Conforming Jumbo Loans (aka Conforming High Balance, those over $417,000 and up to $500,00) require a minimum of 10% downpayment or equity.

Murrieta is located in South Riverside County in the Temecula Valley.

Here are some links to local Murrieta information:

• Murrieta City Website


• Murrieta City Directory


• Murrieta Crime Maps


• Murrieta Statistics, Demographics, & Info


• Murrieta Real Estate


• Murrieta School info


• Murrieta Wiki

Murrieta Home Loan information

FHA Home loans in Murrieta, California:

• FHA Home Loans require just 3.5% downpayment


• FHA Jumbo Loans up to $500,000 (aka FHA High Balance)


• The $500,000 is the base loan amount - the Murrieta FHA Loan Limit of $500,000 does not have to include the UFMIP (FHA's Upfront Mortgage Insurance Premium, which is usually financed into your loan amount)


• The Seller can pay up to 3% of your closing and settlement costs.


• Minimum score for a FHA Home Loan is just 620, even on FHA High balance or FHA Jumbo.


• You can receive a gift of funds for your Downpayment and closing costs from Family


• FHA Condominium requirements include at least a 51% owner occupancy ratio, no outstanding lawsuits against the Homeowners Association - call for details.


• FHA Loans allow non-occupying co-borrowers such as parents and siblings.

VA Home Loans in Murrieta, California:

• Active Duty Military and Veterans can both qualify


• 100% financing up to $417,00


• A $500K Murrieta 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

Conforming Home Loans in Murrieta, California:

• Available up to $500,000 with the Conforming High Balance (aka conforming Jumbo)


• Murrieta Conforming loans available up to $417,000


• require a minimum of 10% downpayment or up to 90% LTV


• Allow for condominiums, Second Homes, and investment properties


• Call for details on Fico score requirements, downpayment requirements, etc

** please visit our post on Conforming vs Conventional to help explain the difference between these two terms, they are often misused in the media and web.

Murrieta Zip codes include 92562, 92563, and 92564. Murrieta Area codes include the 951 area code, and to the east is the 442 area code.

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

VanDyk Mortgage has been making FHA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. We are also a VA Lender and VA Jumbo 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 or VA loan. 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, San Diego, Murrieta, San Marcos, Oceanside, Vista, Escondido, Fallbrook, Bonsall, San Diego, Rancho Bernardo, Poway,Encinitas, Carmel Valley, Scripps Ranch, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Murrieta, Murrieta, and Valley Center. 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).

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

Getting FHA & VA purchase offers approved

Getting FHA & VA purchase offers approved can seem daunting to a home buyer (and Realtors too).

Many buyers experience a long frustrating process when trying to bid on Bank Owned, REO, Short Sale, or Corporate Owned Properties with a FHA loan or VA loan. Why is this? Steve Hall with RE/Max United, one of our preferred Realtors here in North County San Diego, wrote a great success story on his blog regarding FHA & VA purchase offers.

I fully agree with Steve that it boils down to much more than the type of loan you are using when trying to get an offer accepted. The overall presentation and quality of the offer is the difference. The net price to the seller must be fair, not a low ball offer. The home must be either in reasonable condition to qualify, or the plan to cure any deficiencies must be in the offer, and there must be a PreApproval letter that shows the diligence performed in the PreApproval process. This will show the seller (ie, REO listing agent, asset manager, bank approval department, etc) that the offer is well thought out, supported by a knowledgable and detail minded Realtor, a commited buyer, and a quality lender that PreApproved the FHA or VA Loan before the offer was submitted. The presentation of the offer is key to acceptance.

I have heard from home buyers in many different market areas that their Realtors say "VA offers aren't getting accepted in this market" or "the bank isn't taking FHA offers at this time". We did a quick study of MLS records on the San Diego MLS and found that is not the case. Huge percentages of new purchase loans are made with FHA & VA Loans in San Diego County here in California.

The key: The Buyer and their Realtor stayed committed to the process, wrote quality offers, and then did what it takes to close the deal. It usually does take a minimum of a few offers to get one accepted in this strange housing market, but that is true of most offers, Cash, Conventional, FHA or VA financing.

I would like to commend Steve Hall for his commitment to his FHA buyers and VA buyers, it shows in his results!

The fact is that FHA, VA, and the corresponding FHA High Balance (FHA Jumbo) and VA High Balance (VA Jumbo) loans are one of the best ways to purchase a home with minimal down payment.

San Diego FHA buyers can borrow up to $697,500 with our FHA Jumbo loans with just 3.5% down payment. Veterans and Active Duty Military VA Jumbo buyers in San Diego can borrow up to $437,500 with zero down payment, or can purchase a home for a higher amount and pay 25% of the difference. On a $510,000 home purchase, this would require a $18,125 downpayment, or 3.55%.

Give us a call at 760-752-4480 direct, ask for Brian Skaar to see if this is the right loan for your next buyer. Visit us on the web at http://www.vandykfunding.com/

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. 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).

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 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.