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.

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/.

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

HUD changes ease purchasing distressed homes using FHA Financing

HUD has recently made changes allowing homeowners to qualify for FHA loans when buying homes that have been foreclosed, returned to lender (deed in lieu of foreclosure), AKA REO properties. REO stands for Real Estate Owned, which is essentially Bank Owned Repos.

Outdated regulations from HUD to prohibit property flipping and false price appreciation made it difficult for banks to sell recently foreclosed properties due to a HUD rule which prohibited the use of a FHA loan to purchase a home that had not been owned by the seller for atleast 90 days.

This has now been lifted until June 2009. This will allow homeowners to qualify for FHA loans to purchase the numerous bargain priced REO or Bank Owned properties coming to market.

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 20 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, 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 moves to the forefront in lending again

The past couple weeks have seen significant news for Mortgage holders, lenders, and banks. Loan amount increases are official (for details click here) for FHA, FNMA, & Freddie Mac loans. This will help hundreds of thousands of US homeowners get lower rates for the purchase, refinance, or construction of their home. The benefits aren't just for people in Los Angeles ( now $729,750), Seattle, (now $569,500), San Diego (now $697,500) and other high cost areas though. Prior to the new limits, the minimum FHA loan amount in much of America was $200,160, which has now been increased to $271,050. This will help many families refinance out of Adjustable Rate Mortgages, ARM's, 80/20 combo mortgages, Option ARM's, and other risky mortgages into safe, secure, affordable FHA & FHA secure mortgages to up 97% of their homes appraised value.

Meanwhile FNMA (Fannie Mae) & FHLMC (Freddie Mac) loans became more affordable and less obtainable during the same week. While the loan limits increased for these loans, which should help many homeowners, it is now much harder to qualify for a Fannie or Freddie loan over 80% Loan to value. The reason for this is the recent changes (which start 3-17) for Mortgage insurance on these loans. The Mortgage Insurers have seen losses mount in the Billions, and have put limits on minimum ficos (anything less than 680 will be effected).

Fannie & Freddie have also limited the maximum Loan to Value (LTV) in "declining markets" such as specific counties in California, Florida, Arizona, and many more by 5-10% from prior levels. This also makes it more difficult for borrowers (even the best credit risk borrowers) to get Low Down Payment or High LTV financing in many markets.

There is the good news amidst all this doom & gloom!
FHA loans are not affected by either of these issues, the Mortgage Insurance limits on LTV or the Declining markets adjustments.

Good old FHA to the rescue.
FHA mortgage insurance premiums are self-funding. They all go into a fund that guarantees the mortgage banks in the case of default by the borrower. This program is self-funding, it is not subsidized by tax payer money, contrary to public opinion.

VanDyk Mortgage is a direct lender of FHA loans, and we have been making FHA loans for over 20 years. We are proud to have achieved the "Full Eagle Direct Endorsement" underwriter designation from HUD. This is the highest level of approval from HUD (US Department of Housing & Urban Development).

1. FHA loans require just 3% down payment (up to 97% LTV)
2. FHA loans are not limited by "declining markets" for Maximum LTV
3. FHA loans are safe, secure & affordable
4. FHA loans can work with lower credit scores than conventional loans

VanDyk Mortgage can work with tarnished credit histories to get you approved for FHA financing. Bankruptcy is OK (must over 24 months discharged for chapter 7, preferably 24 months from filing for chapter 13, although you can remain in Chapter 13 and refinance with trustee approval). FHA does prefer to see 12 months of on-time mortgage payments, 24 is even better. The FHA Secure program does allow for some late payments in certain circumstances.

Please call us at 866-900-2342 to see if you might benefit from FHA or FHA Secure financing. Brian Skaar and VanDyk Mortgage are your source for FHA financing.

www.vandykfunding.com for news, market updates, and secure loan application.