Monday, March 16, 2009

FHA Loan information


For the best uses of FHA loans, VA Loans, Conforming Loans, VA Jumbo Loans, FHA Jumbo Loans, and Conforming Jumbo loans check back with us often. I will update often on new ways to utilize these Government Jumbo Loan programs to achieve your goals and satisfy your needs.

Many people have found that a VA Jumbo Home loan or FHA Jumbo Home Loan is the best solution to their home purchase or Home Refinance needs. Many more are still unaware that the modernization of these programs can now help millions into safe, secure, and affordable financing.

Working with an experienced VA Direct Lender or FHA Direct Lender such as Brian Skaar and VanDyk Mortgage has it benefits. We have been doing Government loans (FHA & VA) since 1987. We aren't learning the programs, we are making them work for you.

Our FHA Home Loans are available up to $729,750 (depending on county) and our VA home Loans are available up to $1,094,650 (depending on county). The current cap on Conforming Jumbo loans, both Fannie Mae Jumbo (High Balance) or Freddie Mac (Super Conforming) is $729,750, the newly restored loan limits for 2009. Please visit http://www.vandykfunding.com/ to see the loan limits for your county.

If you would like to Purchase or Refinance your 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. VA Loans can refinance your NON VA loan into a safe, secure, and affordable VA home loan. Even up to $1,094,650. We can even leave your existing second mortgage in place with out regard to the total Combined Loan to Value (case by case basis, call for details). VA Jumbo Loan amounts are those from $417,001 up to $1,094,650. (depending on county).

FHA Loans can also offer refinance options for your non FHA loan into a safe, secure, and affordable FHA home loan, even up to $729,750. We can even leave your existing second mortgage in place with out regard to the total Combined Loan to Value (case by case basis, call for details). FHA Jumbo Loan amounts are those from $417,001 up to $729,750 (depending on county).

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.

Tuesday, December 2, 2008

FHA - 3 things every homebuyer should know

With the re-emergence of FHA as one of the best ways to buy a home this year (or in my opinion, the best way) many old wives tales have come back into water cooler & family dinner table discussions about FHA loan qualifications.

FHA Myth #1 - FHA is for First Time Home Buyers
FHA Reality: FHA is for all Home Buyers, there is NO requirement that you be a First Time HomeBuyer (FTHB). It has just always been most common that people use FHA for their first home, as they may not have a large downpayment. Most second time buyers are carrying equity from the sale of their last home into the new sale, hence that lack of need for the low downpayment FHA loan.

FHA Myth #2 - FHA is for low income buyers (or low income refinancers).
FHA Reality: FHA has no income limits. Once again, FHA is flexible in terms of credit, income qualification, and low downpayment requirements, hence the perception. But many of our clients have a very decent income, they just want the advantages that FHA loans have to offer in the way of less downpayment required, lower fico score requirements, and more liberal credit history evaluation when compared to Conventional loans.

FHA Myth #3 - FHA loans can only be used one time.
FHA Reality: There is no limit as to how many homes you can purchase with FHA. You can however only own one primary residence that is secured by a FHA Loan at a time. So if you currently have a FHA loan on your home, and you sell it to purchase another, you can get another FHA Loan for the new home.

And one more thing: FHA Appraisals are not nearly as stringent as they were just 7 years ago. FHA just wants to ensure that your new home is Safe, Secure & Sound, much like your finances.
The home needs to be in working order, free of obvious water damage, infestations, or structural damage which may effect the safety & structural integrity of the home. But the days of replacing dirty carpet, wall scratches, & flaky paint are over. If you want to buy it in that condition, chances are, FHA will allow it. As long as it is Safe, Sound, & Secure.

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 loan. We offer FHA, FHA Secure, FHA Jumbo, FHA Manual Underwrite, FHA Rehab 203K, VA, Conforming & Jumbo Loans.

VanDyk Mortgage lends accross America including: Southern California, Northern California, Washington, Texas, Georgia, Florida, & more.

Monday, November 10, 2008

New FHA Loan Limits for 2009

New Loan Limits for FHA loans made in 2009 have been released. The Base FHA Loan Limit remains at $271,050 accross much of the USA. The new Maximum limit for higher cost areas is now $625,500, with many counties accross America falling somewhere inbetween.

Here are some highlights of the new loan limits:
Bellevue, WA $506,000
Carlsbad, CA $546,250
Chula Vista, CA $546,250
Escondido, CA $546,250
Everett, WA $506,000
Greene County, GA $515,200
Key West, FL $529,000
Kirkland, WA $506,000
Long Beach, CA $625,500
Los Angeles, CA $625,500
Lynnwood, WA $506,000
Mono County, CA $529,000
Napa, CA $592,250
Naples, FL $448,500
Oakland, CA $625,500
Oceanside, CA $546,250
Orange County, CA $625,500
Petaluma, CA $520,950
Pierce County, WA $506,000
Riverside, CA $417,000
Sacramento, CA $474,950
Salinas, CA $483,000
San Diego, CA $546,250
San Francisco, CA $625,500
San Jose, CA $625,500
San Juan County, WA $483,000
San Luis Obispo, CA $561,200
San Marcos, CA $546,250
Santa Barbara, CA $603,750
Santa Cruz, CA $625,500
Santa Rosa, CA $520,950
Seattle, WA $506,000
Snohomish County, WA $506,000
Tacoma, WA $506,000
Truckee, CA $477,250
Ventura, CA $598,000

Don't see your city or county listed? Click here for PDF list of all counties.

VanDyk Mortgage is a FHA Direct Lender serving clients for over 22 years. The new loan limits are available for our VanDyk Rehab Express loans and FHA Secure loans as well.

We can help you get the home of your dreams with a Safe, Secure, Affordable FHA loan. Call us at 866-900-2342 toll free to get details and achieve your dream of owning a beautiful new home. VanDyk Mortgage is a Full Eagle Direct Endorsement FHA Direct Lender. We have over 22 years in business Lending FHA loans direct to consumers. Call the experts.

We serve the following areas for 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.

Wednesday, October 1, 2008

Government launches "Hope For Homeowners" program to help underwater homeowners

Government launches "Hope For Homeowners" program to help underwater homeowners

The Bush administration formally launched the much anticipated "Hope For Homeowners" FHA loan program today. This program helps homeowners stay in their homes by working with your existing lender to refinance your existing loan into a new FHA Fixed Rate Loan.

VanDyk Mortgage is proud to participate in this new FHA Loan program. As a HUD approved Full Eagle DE FHA Underwriter & Direct Lender, we feel that we can provide consumers a Quality Source for your FHA Loan.

The new program works like this: Let's say you owe $400K on your home, and it is worth 320K today. This is upside down, you have negative equity (owe more than your home is worth). We get you qualifed and set up with your new FHA Loan, Negotiate with your current Lender to accept a reduced or short payoff on your current loan, and you are left with a fixed rate affordable, safe, and secure FHA Loan from VanDyk Mortgage for $288K.

We take care of the Negotiation with your current lender for you. Call the FHA Experts at VanDyk Mortgage to get started today at 866-900-2342 toll free, ask for Brian Skaar.

Or apply online on our secure website vandykfunding.com.

VanDyk Mortgage is a privately owned, Nationwide Mortgage Banker offering FHA, VA, Conventional, & Jumbo Loans at competitive rates direct to consumers. Be sure to let your Friends, Family, & Coworkers know about our new FHA Short Refi Program too - help and hope for homeowners who owe more than their home is worth. We serve the following areas for FHA, FHA Jumbo, Jumbo 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. If you don't see your city, call us anyway, we most likely can serve you too.

We offer FHA Short Refi or FHA Short Refinance loans under both the Hope for Homeowners program and the VanDyk HomeSaver program.

Thursday, September 25, 2008

Solution for Upside Down Homeowners - The Short Refi with VanDyk FHA

Solution for Upside Down Homeowners - The Short Refi with VanDyk FHA

The housing bill of July 31, 2008 offered a new solution for homeowners who are upside down in their homes to refinance into safe, secure, affordable FHA loans. It is called the "Hope for Homeowners act". The new loan is based on the current appraised value, and will be at 90% of the current value. The homeowner must negotiate with their current lender to accept the "short payoff" and participation in the program. VanDyk Mortgage offers negotiation services to help homeowners get their current lender to accept the short payoff, allowing the "short refi" to happen.

What is a Short Refi? A short refi is much like a Short Sale, except you get to stay in your home afterward. Your current lender accepts a payoff for less than what is owed, and you refinance into a new VanDyk FHA Loan.

Homeowners may qualify for this program even if they have not been late on their Mortgage. Many banks are telling their clients that they don't qualify for loan modification or short payoff until they have been late. We can help you negotiate with your current lender to get the results you need and get the loan you can afford.

Even if you owe more than your home is worth, we can help you get into a new FHA loan, based on your current appraised value (even if this is less than you currently owe), and negotiate the terms of the Short Payoff with your current Lender.

We offer two solutions for this problem, one for homeowners who are delinquent on their current mortgage and another for those who have good credit still, but are facing a rate adjustment or reset, or just have too high of a mortgage.

Give us a call to help fix your home loan into a safe, secure, fixed FHA Loan from VanDyk Mortgage. We offer over 21 years of FHA experience, and are a Nationwide FHA Direct Lender with Full Eagle Status from HUD. Our toll free: 866-900-2342 or visit us online at http://www.vandykfunding.com/.

Monday, September 8, 2008

Treasury Bailout of Fannie & Freddie, how it effects FHA Loans

This weekends blockbuster government takeover of Government Sponsored Mortgage Giants Fannie Mae (FNMA) and Freddie Mac (FHLMC) has created a welcome stability and confidence in both the mortgage market and the money markets as a whole. These entities are too large, effect too many individuals, and would create too much havoc if crippled for the US government to let them fail. I am not a personal fan of more government, but in this case, hoorah. It is necessary for the stability of many levels of our economy.

So the real question I promised to answer was, How does the Fannie & Freddie bailout plan help FHA borrowers? Aren't FHA loans covered by HUD? FHA Home Loans are covered by HUD, and are not directly associated with Fannie & Freddie. However, the market's reaction to the bailout has reduced Interest Rates by nearly .50% today on both Fannie/Freddie conventional loans but also on FHA Loans. The new found confidence the market has is helping to lower rates overall, which will improve buyer's affordability rates.

FHA Loans are still more competitive and have lower overall costs than Conventional or conforming loans when purchasing a home with very little down payment (10% or less) Contact Brian Skaar for a detailed comparison of your options, and find out why we are passionate about the benefits of FHA Loans and the money they can save you. It is also easier to qualify for FHA Loans. Fannie & Freddie Loans require Private Mortgage Insurance, which requires a secondary underwriting process from the mortgage insurer. With the VanDyk FHA Loan, you are automatically approved for the Mortgage Insurance when you qualify for the FHA Loan. It is just that easy.

It is important to work with a true loan professional to stay on top of the market, keep you abreast of the market changes, and get the best overall loan for your needs. Trust the FHA experts at VanDyk Mortgage. We have been a FHA Direct Lender since 1987, and proudly lend throughout most of the US.

For more information on how FHA loans may be able to help you, call Brian Skaar at 760-752-4480 or apply online at www.vandykfunding.com. We offer FHA, FHA jumbo, Fha Secure, and conventional loans.

We serve the following areas for 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, Concord, Fremont, Oakland, San Jose, California, San Diego, Orange, Los Angeles, Bakersfield, Fresno, Pomona, 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, 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

Wednesday, July 23, 2008

White House compromise offers help for troubled Homeowners

Today, The White House announced that President Bush would lift his opposition to a Housing bill being voted on today in the House of Representatives. He concluded, with input from Treasury Secretary Paulson, that the Greater good was more important than the provision he opposed.



This bill includes several upgrades for homeowners accross America. It provides tax credits for first time homebuyers of up to $7500. Property Tax credits for other qualifying homeowners. Authorizes Government investment to shore up Fannie Mae & Freddie Mac, the two largest guarantors of home mortgages. It will allow permanent upgrades to the maximum loan amounts for Fannie, Freddie & FHA (details to come in the following weeks).



Here is the part that really inspired me to write a post. It will allow upside down homeowners to negotiate with their current lender to allow a "Short Refi".



What is a "Short Refi"? This process allows you to negotiate a payoff of your current mortgage that is lower than the current balance, so that you can refinance into a safe, secure & affordable FHA Fixed Rate Mortgage. Previously, Lenders had little motivation to do this, as the tax laws on how they must account for the write down in debt made it undesirable for their financials. Now, the new legislation, combined with the burden of the growing foreclosure lists, have made lenders more likely to work out a solution.


Part of the key to success with this strategy is to work with an experienced FHA direct lender such as VanDyk Mortgage. We have over two decades of FHA experience to offer you. We can even help with the negotiation of the short payoff to assist you into a better, more secure financial situation. Call us today at 866-900-2342, ask for Brian Skaar. Or apply online at http://www.vandykfunding.com/.




We serve the following areas for 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, 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.