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Wednesday, March 10, 2010

Our VA Jumbo loans are not capped at $650,000

VanDyk Mortgage allows you to borrow up to your full County Loan Limits. Our VA Jumbo loans are not capped at $650,000. This may sound strange, but many VA lenders do not offer VA loans above $650k. Why $650K you ask? It doesn't correspond with any VA County Limit (check yours here). This has to do with the lenders investors and warehouse financing. Warehouse financing is basically the Lenders line of credit that is used to extend mortgage loans. Many lenders are constricted by their warehouse lenders guidelines such as the $650K limit, without regard to Loan Limits. VanDyk Mortgage allows you to borrow up to your full County Loan Limits. In some cases we can make a VA Jumbo Loan up to $1.5 million. Please call for details on the VA Jumbo Program, it allows Veterans to purchase and refinance properties in higher cost areas in California and Washington such as Los Angeles, San Diego, San Francisco, Seattle, Bellevue, Kirkland, and more.

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