VA DIRECT LENDER: August 2010

Saturday, August 28, 2010

San Diego VA Loans and VA Home Mortgage Loans - VanDyk Mortgage - VA Lender

San Diego VA Loans and VA Home Mortgage Loans - VanDyk Mortgage - VA Lender.

VanDyk Mortgage is your source for VA Loans in San Diego. We have been making
VA loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for San Diego Homebuyers and San Diego Homeowners to Purchase and refinance homes in San Diego.

VA & VA Jumbo (aka High Balance) for Purchase and Refinance
VA Purchase Loans up to $1.5M
VA Jumbo Refinance Loans to $1.5m

San Diego VA Loans are available up to $437,500 with zero downpayment. The San Diego VA Loan Limit in 2010 is $437,500. However, Veterans are not limited to the San Diego Loan limit of $437,500 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.

Here are some links to more info on San Diego information, loans for buyers and sellers, etc:

San Diego Home Loan information

VA Home Loans in San Diego, California:

Active Duty Military and Veterans can both qualify
100% financing up to $437,500
A $500K San Diego Home Purchase would only require $15,625 downpayment (3.13%) - 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

VA Loans can be used to Purchase and Refinance Condominiums in San Diego. The Approved VA Condo list is quite extensive, please call for details on the Condo you want to purchase or refinance.

VanDyk Mortgage has been making VA loans since 1987. We are a VA Direct Lender and VA Jumbo Direct lender. We are also 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 VA loan.

We serve the following areas for VA, FHA and Conventional loans: California,Southern California, Bakersifield, Bonita, Carlsbad, Chula Vista, Corona, Costa Mesa, Encinitas, Escondido, Fresno, Glendale, Huntington Beach, Irvine, Lake Elsinore, Long Beach, Los Angeles, Menifee, Monterey, Murrieta, National City, Oakland, Oceanside, Palm Springs, Palmdale,Poway, Riverside, Sacramento, San Bernardino, San Diego, San Francisco, San Jose, San Marcos, San Mateo, San Dimas, Santa Barbara, Santa Monica,Temecula, Tulare, Ventura, Visalia, Vista, Wildomar. 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 offers competitive VA & VA Jumbo rates also, as we are a VA direct lender.

VA Jumbo Refinance loans offer solutions conventional loans simply don't allow.

VA Jumbo Refinance loans offer solutions conventional loans simply don't allow. This sounds a little backwards from what you may have thought, seen or heard in the past about VA Loans, specifically VA Refinance Loans. VA now allows higher loan amounts up to $1,500,000, and VanDyk Mortgage offers these throughout California and Washington.

Conventional Loans require more equity for Jumbo loan amounts over $417,000 for both rate/term refinance and cash out refinance than VA requirements. True Jumbo Conventional Loans require at least 20% equity in your home for refinance, more if you want cash out. The VA Jumbo loan allows Refinances up to 90% of your homes value in both cases, VA Refinance, and VA Cash-out refinance. The VA Loan also allows you to consolidate a first and second mortgage with no penalty to rate or fees.

VA Jumbo rates are typically lower than True Jumbo Rates on 30 year fixed rate loans. Call for an updated quote today - 760-752-4480.

There are a couple scenarios below of how VA Jumbo Loans can help Jumbo Borrowers who are Veterans or Active Duty Military Personnel.

Scenario 1. Your home is worth $1m, and you live in San Francisco. You have a ARM loan and owe $860,000. Conventional loans require more equity, at least 20%, this scenario only has 14% equity, so the bank tells you no. In comes the VA Jumbo loan to the rescue. Since the county limit is $962,500 in San Francisco, and you have atleast 10% equity in your home, we can offer you a VA Jumbo Loan can refinance this loan up to $900K. The VA jumbo loans are typically a 30 year fixed rate, and never a prepayment penalty. Problem Solved!

Scenario 2. You live in Los Angeles, your home is worth $900K, and you owe $790K on your current loan, which is adjustable rate or higher interest fixed rate (over 5.3%). You want to get a fixed rate while the rates are good. You call the big bank. They tell you that you don't have enough equity in your home to refinance, you only have 12% equity, far below their 20% requirement. Once again, the VA Jumbo comes to the rescue for Veterans. Since the county limit is $593,750 for a Los Angeles VA Loan, and VanDyk allows VA loans over the county limit with an appropriate combination of entitlement and equity, we are able to offer you a new VA Jumbo 30 yr Fixed rate mortgage for this scenario. The new loan can be up to $810K, or 90% of the appraised value with your new Jumbo VA loan. Problem solved.

Scenario 3. You live in San Diego, your home is worth $750K. You have a first mortgage is $550K , and you have a second mortgage of $90K that you used to upgrade your home, and enhance it's value. A conventional jumbo loan will consider this a Cash-Out transaction due to the second mortgage being paid off, and you will be limited to a maximum of 65% Loan to Value or LTV. This won't work, as you are at 85.33% LTV. In comes the VA Jumbo to the rescue. Since the San Diego County VA Loan Limit is $437,500, and you have some equity in your home, we can combine the first mortgage and the second mortgage into one VA Jumbo 30 year fixed rate Loan, and you have sufficient entitlement and equity to meet the base guideline of 25% guarantee. Problem solved.

Scenario 4. You live in San Diego, your home is worth $1 Million. You have a first mortgage owing $860K. The conforming Jumbo limit is $697,500 in San Diego, so that won't help. The FHA loan loan limit in San Diego County is also $697,500, not helping either. A conventional jumbo loan will require atleast 20% equity in your home. This won't work either, you are at 85.33% LTV. In comes the VA Jumbo to the rescue. Since the San Diego County VA Loan Limit is $437,500, and you have some equity in your home, we can combine the first mortgage and the second mortgage into one VA Jumbo Loan for as much as $880K, since you have sufficient entitlement and equity to meet the base guideline of 25% guarantee. Problem solved.

As you can see, working a VA Loan pro can really make a difference. Veterans have never had more options or ways to utilize their VA benefit to Purchase or Refinance their homes in California.

There are many more situations and scenarios that VA Loans can help whereas conventional loans may not. Please don't hesitate to contact us if you think your VA Benefit could help you a Refinance or Purchase your home.

Here is a recent post regarding the new VA Loan Limits 2010.

These examples show some of the ways that a VA Jumbo Loan can help, and in ways that many lenders don't offer. VanDyk Mortgage offers VA Jumbo Loans up to $1,500,000 in all areas that we service. Many VA Lenders limit VA Loans to the county limit for your area, or a max of $650K, VanDyk is not contained to these limits. Even in areas with a lower VA Loan Limit, we still offer the VA Loan up to $1,500,000, as long as there is a sufficient combination of entitlement and equity to meet the guideline of 25%.

You do need good credit for VA jumbo loans, and must be able to fully document your income, but that should come as no surprise in today's lending world.

VanDyk Mortgage is a Proud VA Direct Lender. VanDyk Mortgage has been making FHA & VA loans since 1987. We are a HUD recognized Full Eagle FHA DE underwriter and FHA Direct Lender. Go with the Government Loan Pros, go with VanDyk. Visit us at http://www.vandykfunding.com/ or call Brian Skaar direct at 760-752-4480 for help with your VA or FHA loan.

We are your VA 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.

VA Jumbo Purchase Loans - Filling in the gaps that Conventional loan don't serve.

VA Jumbo Purchase Loans - Filling in the gaps that Conventional loan don't serve.

This sounds a little backwards from what you may have thought, seen or heard in the past about VA Loans, specifically VA Purchase Loans. VA now allows higher loan amounts up to $1,500,000, and VanDyk Mortgage offers these throughout California and Washington.

Conventional Loans require more equity for Jumbo loan amounts over $417,000 for purchase of a home or condo than typical VA requirements. True Jumbo Conventional Loans require at least 20% down payment to purchase a home, and more if you exceed $1m. The VA Jumbo loan allows Veteran purchasers many options for reduced downpayments vs conventional options.

VA Jumbo rates are typically lower than True Jumbo Rates on 30 year fixed rate loans. Call for an updated quote today - 760-752-4480.

There are a couple scenarios below of how VA Jumbo Loans can help Jumbo Borrowers who are Veterans or Active Duty Military Personnel in the purchase of a home:

Scenario 1. You want to buy a home for $1m in San Francisco. A conventional loan will require at least 20% downpayment, You have the money, but would prefer to keep it in the market to recapture what you have lost in the last couple years. In comes the VA Jumbo loan to the rescue. Since the county limit is $962,500 in San Francisco, we can offer a VA Jumbo loan up to $990,625 with just $9,375 down payment (yes, under 1% down). Our VA jumbo loans are typically a 30 year fixed rate, and never a prepayment penalty. Problem Solved! How about putting $9k vs 200K down. and getting a better rate sound?

Scenario 2. You want to buy a home in Long Beach for $900K. Since the county limit is $593,750 for a Los Angeles VA Loan, and VanDyk allows VA loans over the county limit, Our VA Jumbo Purchase loan for Long Beach would only require a $76,562 downpayment (8.51%). Problem solved.

Scenario 3. You want to buy a home in Oakland for $900K. Since the county limit is $962,500 for an Oakland or Alameda county VA Loan, your VA Jumbo Purchase loan for Oaklandwould only require zero downpayment. Conventional loans would require 20% in Oakland, and FHA loans cap out at $729,750. Problem solved for our Veteran.

Scenario 4. You want to buy a home for $1.65m in San Francisco. A conventional loan will require at least 20% downpayment, In comes the VA Jumbo loan to the rescue. Since the county limit is $962,500 in San Francisco, we can offer a VA Jumbo loan up to $1.5M, with a $150K down payment (yes, under 10% down). Our VA jumbo loans are typically a 30 year fixed rate, and never a prepayment penalty. Problem Solved!

As you can see, working a VA Loan pro can really make a difference. Veterans have never had more options or ways to utilize their VA benefit to Purchase or Refinance their homes in California.

Here is a recent post regarding the new VA Loan Limits 2010.

You do need good credit for VA jumbo loans, and must be able to fully document your income, but that should come as no surprise in today's lending world.

Using your VA Home Loan Benefit in Los Angeles -part 2 - refinance your home with a VA Loan

Using your VA Home Loan Benefit in Los Angeles -part 2 - refinance your home with a VA Loan

The VA Home Loan benefit is a great opportunity for Los Angeles Veterans and Active Duty Military to refinance a LA home or Los Angeles condo. We thought it would be a good idea to quickly review the benefits of VA Loans, and a few ways to use them to your benefit.

VA Loans require zero downpayment up to $593,750 in Los Angeles, throughout Los Angeles County.

VA Refinance Loans - available up to 90% of your homes value
VA Jumbo Refinance Loans - also available up to 90% of your homes value with corresponding amount of home equity. these are also know as VA High Balance loans.
VA IRRRL Streamline Refinance Loans - Refinance into a lower rate with reduced documentation requirements, up to $1.5M in Los Angeles.

However,Veterans are not limited to the Los Angeles Loan limit of $593,750 for VA Loans. We offer VA Jumbo Loans up to $1.5 Million with the appropriate downpayment or equity to reach the VA Guarantee requirements of 25% of the loan amount. Here is one of our posts on how you can get a VanDyk Mortgage VA Loan over your county limit.

Here are a few ways to use your VA home loan Benefit in Los Angeles to purchase a home:

VA Loan to Refinance a single family home with up to $417K loan amount with no PMI
VA Jumbo Loan to Refinance a home up to a $593,750 loan amount no MI required.
VA Loan to refinance a Condo in Los Angeles - up to $417,000 loan amount no MI required.
VA Jumbo Loan to refinance your Los Angeles Condo up to $593,750 loan amount with no MI required.
VA Jumbo Loan to Refinance a $750,000 home in Los Angeles with a loan amount up to $675K with no MI
VA Jumbo Loan to Refinance a $1M home in Los Angeles with a loan amount up to $900K with no MI
Refinance your current VA Loan or VA Jumbo Loan using the VA IRRRL Streamline Refinance - Market rates are the lowest on record - Call for today's rates, they will surprise you.
Use a VA refinance to refinance out of an Adjustable Rate Mortgage - Up to 90% loan to value - with zero Mortgage Insurance required.
Use a VA refinance to consolidate your first and second mortgage with no extra charge to interest. This consolidation is considered Cash Out for Conforming Loans and has additional restrictions, VA Allows this up to 90% LTV.
Use the VA Jumbo Loan to take advantage of the lowest 30 year fixed rates on Record (call for actual rates, they will shock you). Available up to $1.5M in Los Angeles with a suitable combination of Equity and guarantee. Check out some actual VA Jumbo Loan Refinance scenario's here.

VA Home Loan info for Los Angeles, California:

Active Duty Military and Veterans can both qualify
100% financing up to $593,750
A $825k Los Angeles Home Purchase would only require $57,812 downpayment (7.01%) - 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
VA Loans are not just for first time homebuyers
VA Jumbo Loans are offered at competitive rates that will surprise you, in a good way.
Sellers can pay up to 4% of the VA Buyers closing costs
VA Loans can be used to purchase VA Approved Condominiums with zero down

VanDyk is your source for VA backed Condo loans. We also do not have a waiting period for "flips". This is often called the Flip Rule or VA Flip Rule. VanDyk does not require the seller of a property to wait 90 days before allowing a VA buyer to purchase the property, only 1 day.

We serve the entire states of California and Washington for VA Loans, including Los Angeles, San Francisco, Pasadena, Long Beach, San Jose, San Diego, Huntington Beach, Anaheim, Orange, Santa Ana, Oakland, Fresno, Bakersfield, Riverside, Lancaster, Sacramento, Seattle, Tacoma, Spokane, and everything in between.

Here is a link to part one of our series: Using your VA loan benefit to purchase a home in Los Angeles

Using your VA Home Loan Benefit in Los Angeles, part 1 - Purchase a home

Using your VA Home Loan Benefit in Los Angeles, part 1 - Purchase a home

The VA Home Loan benefit is a great opportunity for Los Angeles Veterans and Active Duty Military to purchase a LA home or condo. We thought it would be a good idea to quickly review the benefits of VA Loans, and a few ways to use them to your benefit.

VA Loans require zero downpayment up to $593,750 in Los Angeles, throughout Los Angeles County.

VA Loans - zero downpayment required up to $417,000
VA Jumbo Loans - zero downpayment required up to $593,750 in LA (aka VA High Balance)
VA Jumbo Loans up to $1.5M (with downpayment)

Los Angeles VA Loans are available up to $593,750 with zero downpayment required. The Los Angeles VA Loan Limit in 2010 is $593,750. However,Veterans are not limited to the Los Angeles Loan limit of $593,750 for VA Loans. We offer VA Jumbo Loans up to $1.5 Million with the appropriate downpayment or equity to reach the VA Guarantee requirements of 25% of the loan amount. Here is one of our posts on how you can get a VanDyk Mortgage VA Loan over your county limit.

Here are a few ways to use your VA home loan Benefit in Los Angeles to purchase a home:

VA Loan to Purchase a single family home up to $417K with zero downpayment and no MI
VA Jumbo Loan to Purchase a home up to $593,750 with zero downpayment and no MI
VA Loan to purchase a Condo in Los Angeles - up to $417K with zero downpayment or MI
VA Jumbo Loan to purchase a Condo in Los Angeles - up to $593,750 with zero downpayment and no MI required.
VA Jumbo Loan to purchase a $750,000 home in Los Angeles with just a $39,062 downpayment required (5.21%)
VA Jumbo loan to purchase a $825,000 home with just $57,812 (7.01%) downpayment in Los Angeles
VA Jumbo loan to purchase a $1.1M Los Angeles home with just $126,562 (11.51%) downpayment and no MI (mortgage insurance)

VA Jumbo Loan rates are currently at the lowest 30 year fixed rates on Record (call for actual rates, they will shock you). VA Jumbo's are available up to $1.5M in Los Angeles with a suitable combination of Equity and guarantee. Check out some actual VA Jumbo Loan Purchase scenario's here.

VA Home Loan info for Los Angeles, California:

Active Duty Military and Veterans can both qualify
100% financing up to $593,750
Available up to $1.5M with suitable downpayment/Equity in home
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
VA Loans are not just for first time homebuyers
VA Jumbo Loans are offered at competitive rates that will surprise you, in a good way.
Sellers can pay up to 4% of the VA Buyers closing costs
VA Loans can be used to purchase VA Approved Condominiums with zero down

Go with the Government Loan Pros, go with VanDyk. Visit us at www.vandykfunding.com or call Brian Skaar direct at 866-900-2342 for help with your VA loan. We serve the entire state of California plus Washington state, including: California,Southern California, Los Angeles, San Diego, San Jose, San Francisco, Santa Monica, Pasadena, Brea, Diamond, Long beach, Huntington beach, Irvine, Costa Mesa, Hollywood, North Hollywood, San Mateo, Ventura, Riverside, Oakland, Fremont, Sunnyvale, Santa maria, Oceanside, Vista, Escondido, Los Angeles, Murrieta, Temecula, Corona, Riverside, Rancho Bernardo, Poway, San Marcos, Carmel, Monterey, Santa Barbara, Santa Cruz, and all areas in between.

Riverside CA - VA Loans & VA Jumbo Home Mortgage Loans

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

VA purchase Loans
VA Refinance Loans
VA IRRRL Streamline Refinance
VA Jumbo purchase Loans
VA Jumbo Refinance Loans
VA Jumbo IRRRL Streamline Refinance
VA Condo Loans

VA Jumbo Loans are also called VA High Balance Loans. These are VA Loans that are $417,001 and higher (up to $1.5M).

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

VanDyk Mortgage Allows VA Flips - IE no seller seasoning. Read our article on VA Flipping Rules here.

Here are some links to local Riverside information:

Riverside VA Home Loan information

VA Home Loans in Riverside, California:

Active Duty Military and Veterans can both qualify
100% financing up to $417,00
A $500K Riverside 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

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

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

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 information.

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 VA loan. We offer VA, VA Jumbo, FHA, FHA Jumbo, Conforming & Jumbo Loans. 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).

Sunday, August 15, 2010

VA Loans not limited by VA Loan Limit for your County

VA Loans not limited to VA Loan Limit for your County. In concert with higher VA County Loan Limits, this rebuffs a common myth about VA Loans that they don't work for your area, or the loan amounts are too low for your area. In the past this was true, but recent changes have changed the picture. Please see our VA Loan Limits pages for details on your county limits.

California VA Loan Limits Washington VA Loan Limits

The loan limits above $417,000 are called VA Jumbo Loans or VA High Balance Loans. While many counties in the country are limited to the $417,000 amount, that isn't the highest VA loan available for that particular county.

VanDyk Mortgage offers VA loans up to $1,500,00 in all the states we serve. What changes is the amount of required home equity or down payment. Each case is unique.

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

So what is the benefit of using a VA loan in this scenario? - Lower down payments than conventional alternatives, fixed rates, no Mortgage Insurance. Let's say you live in a county where the VA loan limit is $417,000 (such as Riverside or San Bernardino counties in California). You want to purchase a home that is $450,000 with a little of down payment possible. Assume that you have full VA eligibility & fully restored Entitlement. VanDyk Mortgage will allow a VA loan in this scenario up to $441,750, requiring just $8,250 down payment, or 1.83%.

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

Here is the math to figure this out:

1. Take your county loan limit (in this case $417,000) and multiply times 25% to reach your maximum entitlement and guaranty available ($417,000 x .25 = $104,250)

2. Take your purchase price and multiply times the minimum guaranty required. ($450,000 X .25 = $112,500) ** since this figure is higher than your maximum guaranty and entitlement from #1, we must now figure out how to handle the shortage.

3. Take #2, the Minimum required guaranty ($112,500) and subtract the available guaranty and entitlement for you ($104,250) and it yields us $8,250.

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

This is far superior to the conventional loan alternatives or even FHA loans. So if your bank tells you that you need to put down 10% for a conventional loan, Call VanDyk Mortgage and go with a VA loan instead. You will be glad you called.

VanDyk Mortgage is a Direct Lender (since 1987) making VA Loans and VA Jumbo Loans such as VA purchase loans, VA Streamline Refinance, VA IRRRL, VA Refinance Loans, VA Jumbo purchase loans, VA Jumbo Refinance Loans, VA Jumbo Streamline Refinance loans, VA Jumbo IRRRL , VA Mortgages of all types. 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, Washington, & More. Visit us at http://www.vandykfunding.com/ to get started or just find out more.

Friday, August 13, 2010

VA Home Loan Benefit for Washington State Veterans and WA Active Duty Military

VA Home Loan Benefit for Washington State Veterans and WA Active Duty Military

Many Washington Veterans and WA Active Duty Military Personnel have access to higher VA guarantee limits in the Puget Sound Area counties: King, Snohomish, and Pierce. (San Juan too). The higher VA Guarantee allows Washington Vets the opportunity to purchase a home with zero downpayment up to $481,250 in select Puget Sound Counties (King County, Snohomish County, and Pierce County). This includes the cities of Seattle, Bellevue, Tacoma, Kirkland, Redmond, Woodinville, Rention, Everett, Federal Way, Auburn, Kent, Puyallup, Issaquah, Lynnwood, Edmonds, Shoreline, and all other cities within these counteis. Seattle VA Loans are available up to $481,250 with no down payment.

We are also able to exceed the VA County VA Loan limit with downpayment of 25% of the difference between your purchase price and the VA loan limit for your area. VanDyk Mortgage is a proud VA Lender serving many states including California and Washington, and more. We are a VA Direct Lender.

In 2008, the US Congress authorized increases in the VA Loan Benefit by increasing the Entitlement available to Vets in higher cost areas. This allows us to write VA Loans that are guaranteed by the VA up to the full county loan limit with no downpayment for qualified Veterans. Read more about the Washington VA Loan process here. VA Loans are available to purchase VA Approved Condo's as well.

We have compiled the Washington VA Loan limits for 2010 by county below. Here is a link to our complete list of all nationwide 2010 VA Loan Limits.

STATE COUNTY 2010 VA LIMIT

WA KING $481,250

WA PIERCE $481,250

WA SAN JUAN $505,000

WA SNOHOMISH $481,250

Any county not listed is at $417,000 for the VA loan limit.

If you need a VA loan for a higher amount than your county loan limit, please call us. We do offer VA loans over the county loan limits for VA IRRRL Streamline Refinance (aka VA Streamline), Refinance and Purchase. Call Brian Skaar at 760-752-4480 to get started.

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VA Direct Lender

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