Redmond WA - VA Loans and FHA Home Mortgage Loan Info

Redmond WA - VA Loans and FHA Home Mortgage Loans - VanDyk Mortgage - Washington VA Lender & FHA Lender

VanDyk Mortgage is your source for VA Loans and FHA Loans in Redmond. We have been making FHA, VA, Conforming, and Jumbo loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Redmond Homebuyers and King County 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

Redmond FHA Loans are available up to $567,500 with just 3.5% down payment. The FHA 2010 Loan Limit for Redmond is $567,500. Redmond FHA Loans that are over $417K up to $567,500 are called FHA Jumbo or FHA High Balance loans.

Redmond VA Loans are available up to $481,250 with zero down payment required. The Redmond VA Loan Limit in 2010 is $481,250. However, Veterans are not limited to the King County Loan limit of $481,250 for VA Loans in Redmond . 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.

Redmond Conforming Loans are available up to $567,500. The Redmond Conforming Jumbo Loans (aka Conforming High Balance,those over $417,000 and up to $567,500) require a minimum of 10% downpayment or equity.

Redmond Home Loan information

FHA Home loans in Redmond, Washington:

• FHA Home Loans require just 3.5% downpayment
• FHA Jumbo Loans up to $567,500 (aka FHA High Balance)
• The $567,500 is the base loan amount - the Redmond FHA Loan Limit of $567,500 does not have to include the UFMIP (FHA's Upfront Mortgage Insurance Premium, which is usually financed into your loan amount)
• Redmond home buyers can purchase up to a $588K home with 3.5% down.
• 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 Redmond, Washington:

• Active Duty Military and Veterans can both qualify
• 100% financing up to $481,250
• A $500k Redmond VA Home Purchase would only require $4,687 downpayment ( .94%) - not including the VA Funding Fee
• A $675k Redmond VA Home Purchase would only require $48,437 downpayment (7.18%) - 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 for condos are available up to $481,250 with zero down

Conforming Home Loans in Redmond, Washington:

• Available up to $567,500 with the Conforming High Balance (aka conforming Jumbo)
• Redmond Conforming loans available up to $417,000
• require a minimum of 5% downpayment or up to 95% 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.

Give us a call at 866-900-2342 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 direct at 866-900-2342 for help with your FHA or VA loan. We offer FHA, FHA Jumbo, VA, VA 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).

We service the entire state of Washington, including Spokane, Spokane Valley, Mead, Newport, Liberty Lake, Newman Lake, Airway Heights, Deerpark, Seattle, Tacoma, Everett, Puyallup, Kent, Auburn, Bellevue, Federal Way, Kirkland, Redmond, Woodinville, Snohomish, Marysville, Lake Stevens, Mukilteo, Lynnwood, Montlake Terrace, Edmonds, Des Moines, Renton, Issaquah, North Bend, Monroe, Olympia, Lacey, Bremerton, Tumwater, Port Orchard, and Vancouver. In addition to Washington State, we service the entire state of California, including Redding, Sacramento, Bakersfield, Stockton, Oakland, San Francisco, Fremont, Clovis, Sunnyvale, Patterson, Modesto, Salinas, Palmdale, Lancaster, Los Angeles, Ventura, Santa Monica, San Bernardino, Riverside, Corona, Santa Ana, Orange, Irvine, Anaheim, Huntington Beach, Long Beach, Brea, Ventura, Santa Barbara, Monterey, Corona, Palm Springs, Indio, Temecula, Murrieta, San Diego, Chula Vista, Oceanside, Escondido, Vista, La Mesa, Santee, Santa Maria, Santa Clarita, San Clemente, Laguna, Aliso Viejo, Mission viejo, Rancho, Santa Margarita, Rancho Cucamonga, and more.

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

FHA Loans vs Fannie Mae loans - compare and contrast We did a comparison of FHA jumbo vs Fannie Mae Jumbo loans in 2008, and also updated that artic

FHA Loans vs Fannie Mae loans - Which one is for you?

We did a comparison of FHA jumbo vs Fannie Mae Jumbo loans in 2008, and also updated that article onFHA Jumbo vs Fannie Mae High Balance recently. It made me think, what about conforming loan sizes - $417K and under, how do FHA and Fannie Mae conforming loans compare? We found that in many instances, FHA has many benefits and more ways to help homeowners refinance and homebuyers purchase homes.

FHA Purchase Loans and FHA Refinance Loans offer many ways to help both homebuyers and refinancers. Here are some comparisons:

• FHA Loans require a 3.5% downpayment vs a 5% downpayment for Fannie Mae
• FHA Refinance Loans require a 2.25% minimum equity vs a 5% minimum equity for Fannie Mae Refinances (for non- cash out transactions)
• FHA Allows Cash out refinances up to 85% Loan to Value - Fannie Mae's limit of 85% loan to value
• FHA Loans allow you to consolidate a first and second mortgage without classifying the transaction as Cash out - Fannie Mae Loans consider paying off a non-purchase second mortgage to be Cash out, resulting in higher loan related fees, higher fico qualification, and a higher rate.
• FHA Loans require a 620 mid score vs a 680 for a 95% Fannie Mae Purchase.
• FHA allows higher debt ratios than Fannie Mae loans, especially when MI is involved

While the FHA loan does have Mortgage Insurance, it does offer options that Fannie Mae does not, and Fannie Mae loans over 80% ltv also require PMI.

Here are some comparisons we made between FHA and conforming loans to measure the coming changes to the FHA Mortgage Insurance costs. Please view the following articles for more information on comparing the old and new FHA MIP premium structures, and how they effect you:

FHA Changes to Mortgage Insurance Premiums authorized in House Bill HR 5981

Part 1: Why FHA Loans will still be the better choice for many homebuyers (and refinancers!)

Part 2: Why FHA Loans will still be the better choice for many homebuyers (and refinancers!)

Call us at 866-900-2342 to see if a FHA Purchase or FHA Refinance is the right solution for you.

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. Call Brian Skaar at 866-900-2342 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, 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, Rancho Bernardo, Poway, San Marcos, Carmel, Monterey, Santa Barbara, Santa Cruz, and all areas in between. 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.

Federal Way WA - VA Loan and FHA Loan info page

Federal Way WA - VA Loans and FHA Home Mortgage Loans - VanDyk Mortgage - Washington VA Lender & FHA Lender

VanDyk Mortgage is your source for VA Loans and FHA Loans in Federal Way. We have been making FHA, VA, Conforming, and Jumbo loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Federal Way Homebuyers and King County 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

Federal Way FHA Loans are available up to $567,500 with just 3.5% down payment. The FHA 2010 Loan Limit for Federal Way is $567,500. Federal Way FHA Loans that are over $417K up to $567,500 are called FHA Jumbo or FHA High Balance loans.

Federal Way VA Loans are available up to $481,250 with zero down payment required. The Federal Way VA Loan Limit in 2010 is $481,250. However, Veterans are not limited to the King County Loan limit of $481,250 for VA Loans in Federal Way. 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.

Federal Way Conforming Loans are available up to $567,500. The Federal Way Conforming Jumbo Loans (aka Conforming High Balance,those over $417,000 and up to $567,500) require a minimum of 10% downpayment or equity.

Federal Way Home Loan information

FHA Home loans in Federal Way, Washington:

• FHA Home Loans require just 3.5% downpayment
• FHA Jumbo Loans up to $567,500 (aka FHA High Balance)
• The $567,500 is the base loan amount - the Federal Way FHA Loan Limit of $567,500 does not have to include the UFMIP (FHA's Upfront Mortgage Insurance Premium, which is usually financed into your loan amount)
• Federal Way home buyers can purchase up to a $588K home with 3.5% down.
• 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 Federal Way, Washington:

• Active Duty Military and Veterans can both qualify
• 100% financing up to $481,250
• A $500k Federal Way VA Home Purchase would only require $4,687 downpayment ( .94%) - not including the VA Funding Fee
• A $675k Federal Way VA Home Purchase would only require $48,437 downpayment (7.18%) - 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 for condos are available up to $481,250 with zero down

Conforming Home Loans in Federal Way, Washington:

• Available up to $567,500 with the Conforming High Balance (aka conforming Jumbo)
• Federal Way Conforming loans available up to $417,000
• require a minimum of 5% downpayment or up to 95% 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.

Give us a call at 866-900-2342 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 direct at 866-900-2342 for help with your FHA or VA loan. We offer FHA, FHA Jumbo, VA, VA 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).

In addition to Federal Way , WA, we service the entire state of Washington, including Spokane, Spokane Valley, Mead, Newport, Liberty Lake, Newman Lake, Airway Heights, Deerpark, Seattle, Tacoma, Everett, Puyallup, Kent, Auburn, Bellevue, Federal Way, Kirkland, Redmond, Woodinville, Snohomish, Marysville, Lake Stevens, Mukilteo, Lynnwood, Montlake Terrace, Edmonds, Des Moines, Renton, Issaquah, North Bend, Monroe, Olympia, Lacey, Bremerton, Tumwater, Port Orchard, and Vancouver. In addition to Washington State, we service the entire state of California, including Redding, Sacramento, Bakersfield, Stockton, Oakland, San Francisco, Fremont, Clovis, Sunnyvale, Patterson, Modesto, Salinas, Palmdale, Lancaster, Los Angeles, Ventura, Santa Monica, San Bernardino, Riverside, Corona, Santa Ana, Orange, Irvine, Anaheim, Huntington Beach, Long Beach, Brea, Ventura, Santa Barbara, Monterey, Corona, Palm Springs, Indio, Temecula, Murrieta, San Diego, Chula Vista, Oceanside, Escondido, Vista, La Mesa, Santee, Santa Maria, Santa Clarita, San Clemente, Laguna, Aliso Viejo, Mission viejo, Rancho, Santa Margarita, Rancho Cucamonga, and more.

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

Burien WA - VA Loans and FHA Home Mortgage Loan Info

Burien WA - VA Loans and FHA Home Mortgage Loans - VanDyk Mortgage - Washington VA Lender & FHA Lender

VanDyk Mortgage is your source for VA Loans and FHA Loans in Burien . We have been making FHA, VA, Conforming, and Jumbo loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Burien Homebuyers and King County 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

Burien FHA Loans are available up to $567,500 with just 3.5% down payment. The FHA 2010 Loan Limit for Burien is $567,500. Burien FHA Loans that are over $417K up to $567,500 are called FHA Jumbo or FHA High Balance loans.

Burien VA Loans are available up to $481,250 with zero down payment required. The Burien VA Loan Limit in 2010 is $481,250. However, Veterans are not limited to the King County Loan limit of $481,250 for VA Loans in Burien. 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.

Burien Conforming Loans are available up to $567,500. The Burien Conforming Jumbo Loans (aka Conforming High Balance,those over $417,000 and up to $567,500) require a minimum of 10% downpayment or equity.

Burien Home Loan information

FHA Home loans in Burien Washington:

• FHA Home Loans require just 3.5% downpayment
• FHA Jumbo Loans up to $567,500 (aka FHA High Balance)
• The $567,500 is the base loan amount - the Burien FHA Loan Limit of $567,500 does not have to include the UFMIP (FHA's Upfront Mortgage Insurance Premium, which is usually financed into your loan amount)
• Burien home buyers can purchase up to a $588K home with 3.5% down.
• 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 Burien, Washington:

• Active Duty Military and Veterans can both qualify
• 100% financing up to $481,250
• A $500k Burien VA Home Purchase would only require $4,687 downpayment ( .94%) - not including the VA Funding Fee
• A $675k Burien VA Home Purchase would only require $48,437 downpayment (7.18%) - 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 for condos are available up to $481,250 with zero down

Conforming Home Loans in Burien, Washington:

• Available up to $567,500 with the Conforming High Balance (aka conforming Jumbo)
• Burien Conforming loans available up to $417,000
• require a minimum of 5% downpayment or up to 95% 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.

Give us a call at 866-900-2342 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 direct at 866-900-2342 for help with your FHA or VA loan. We offer FHA, FHA Jumbo, VA, VA 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).

We service the entire state of Washington, including Spokane, Spokane Valley, Mead, Newport, Liberty Lake, Newman Lake, Airway Heights, Deerpark, Seattle, Tacoma, Everett, Puyallup, Kent, Auburn, Bellevue, Federal Way, Kirkland, Redmond, Woodinville, Snohomish, Marysville, Lake Stevens, Mukilteo, Lynnwood, Montlake Terrace, Edmonds, Des Moines, Renton, Issaquah, North Bend, Monroe, Olympia, Lacey, Bremerton, Tumwater, Port Orchard, and Vancouver. In addition to Washington State, we service the entire state of California, including Redding, Sacramento, Bakersfield, Stockton, Oakland, San Francisco, Fremont, Clovis, Sunnyvale, Patterson, Modesto, Salinas, Palmdale, Lancaster, Los Angeles, Ventura, Santa Monica, San Bernardino, Riverside, Corona, Santa Ana, Orange, Irvine, Anaheim, Huntington Beach, Long Beach, Brea, Ventura, Santa Barbara, Monterey, Corona, Palm Springs, Indio, Temecula, Murrieta, San Diego, Chula Vista, Oceanside, Escondido, Vista, La Mesa, Santee, Santa Maria, Santa Clarita, San Clemente, Laguna, Aliso Viejo, Mission viejo, Rancho, Santa Margarita, Rancho Cucamonga, and more.

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

Long Beach VA Loans and FHA Home Mortgage Loans - VanDyk Mortgage - California VA Lender & FHA Lender.

Long Beach 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 Long Beach. We have been making FHA, VA, Conforming, and Jumbo loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Long Beach Homebuyers and Long Beach 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

Long Beach FHA Loans are available up to $729,750 with just 3.5% down payment. The FHA 2010 Loan Limit for Los Angeles County is $729,750. Long Beach FHA Loans that are over $417K up to $729,750 are called FHA Jumbo or FHA High Balance loans.

Long Beach VA Loans are available up to $593,750 with zero downpayment. The Long Beach VA Loan Limit in 2010 is $593,750. However, Veterans are not limited to the Los Angeles County Loan limit of $593,50 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%. Here is one of our posts on how you can get a VanDyk Mortgage VA Loan over your county limit .

Long Beach Conforming Loans are available up to $729,750. The Los Angeles county Conforming Jumbo Loans (aka Conforming High Balance, those over $417,000 and up to $729,750) require a minimum of 10% downpayment or equity.

Here are some links to local Long Beach information:

Long Beach City Website

Long Beach Statistics, Demographics, & Info

Long Beach Real Estate

Long Beach School info

Long Beach Wiki

Long Beach visitor info

The Queen Mary - Hotel and Ship

Long Beach Home Loan information

FHA Home loans in Long Beach, California:

FHA Home Loans require just 3.5% downpayment

FHA Jumbo Loans up to $729,750 (aka FHA High Balance)

The $729,750 is the base loan amount - the Long Beach FHA Loan Limit of $729,750 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 most FHA Home Loans 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 Long Beach, California:

Active Duty Military and Veterans can both qualify

100% financing up to $593,750

A $825k Long Beach 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

Sellers can pay up to 4% of the VA Buyers closing costs

Conforming Home Loans in Long Beach, California:

Long Beach Conforming Jumbo Loans are available up to $729,750 with the Conforming High Balance (aka conforming Jumbo)

Long Beach Conforming Jumbo loans require a minimum of 10% downpayment or up to 90% LTV

Long Beach Conforming loans available up to $417,000

Conforming loans up to $417K require just 5% downpayment - up to 95% LTV

Allow for condominiums, Second Homes, and investment properties

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

We offer Jumbo Conventional Loans up to $3m - call for details.** please visit our post on Conforming vs Conventional loans to help explain the difference between these two terms, they are often misused in the media and web.

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. Call Brian Skaar at 866-900-2342 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, 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, Rancho Bernardo, Poway, San Marcos, Carmel, Monterey, Santa Barbara, Santa Cruz, and all areas in between. 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.

FHA Delays Mortgage Insurance Premium Increase until Oct 4, 2010

FHA Delays Mortgage Insurance Premium Increase until Oct 4, 2010

Hud has announced that previously announced FHA Premium Changes will now be implemented Oct 4, 2010, delayed from the original plan of Sept 7, 2010. Go here to view the Statement from Deputy Assistant Secretary Vicki Bott on the change.

This will create some opportunity for folks purchasing and refinancing their homes to take advantage of the current MI premium plans, which are less expensive than the new FHA MIP program.

Please view the following articles for more information on comparing the old and new FHA MIP premium structures, and how they effect you:

FHA Changes to Mortgage Insurance Premiums authorized in House Bill HR 5981

Part 1: Why FHA Loans will still be the better choice for many homebuyers (and refinancers!)

Part 2: Why FHA Loans will still be the better choice for many homebuyers (and refinancers!)

To get started on your FHA Loan today, please visit our online application at vandykfunding.com or call us direct at 760-752-4480, ask for Brian Skaar.

FHA loans - helping homeowners where conventional loans leave off

Part 2: One size shoe does not fit all borrowers.

Part 2: Why FHA Loans will still be the better choice for many homebuyers (and refinancers!)

In our previous article, Part 1: Why FHA Loans will still be the better choice for many homebuyers (and refinancers!), we compared the new FHA Mortgage Insurance premiums and compared the monthly cost to a 95% conforming loan with MI, and a 95% conforming loan with NO MI. While the monthly payment leads us to think that the conforming (or conventional) loans are now the best option, one size shoe does not fit all borrowers.

First let's compare and discuss the conforming loan options:

• MI is cancellable before 60 months if your property increases in value a sufficient amount Whereas FHA MIP is required for a minimum of 60 months before cancellation, regardless of property value growth.
• Rates are similar to FHA rates - so that is not a pro or a con.
• The conforming loan with no MI has the lowest overall payment of the 4 options.
• Require 5% down payment
• Requires a 680 fico score
• requires a debt ratio of 41% or lower

Benefits of the FHA Loan option (3.5% downpayment):

• Low downpayment required - 3.5%
• Down payment can be from Gift Funds
• lower ficos required (We offer FHA Loans down to a 580 middle score).
• FHA allows higher debt ratios, up to 50%
• FHA allows non-occupant co-borrowers such as parents helping their kids get a start

As you can see, one shoe doesn't fit everyone, and every borrower's finances and goals are a little different. Let us work with you to find the most suitable loan option to meet your needs, for now and the future. Contact VanDyk Mortgage direct at 760-752-4480, ask for Brian Skaar.

Part 1: one size shoe does not fit all borrowers.

Part 1: Why FHA Loans will still be the better choice for many home buyers ie. one size shoe does not fit all borrowers!

We just posted information on the new FHA Mortgage Insurance Changes. I examined the options that now come to mind as potential competitors for the selection of a loan with low downpayment, or little equity.

We compared the following loan options:

1. FHA Loan with 3.5% down
2. FHA Loan with 5% down
3. 5% down Conventional loan (yes, we offer this in california with a 680 fico)
4. 5% down conventional loan with no MI (we pay the MI for you).

As the table below illustrates, the payment is similar between the 95% conventional loan with PMI and the FHA Loan with 3.5% down. The FHA loan requires less downpayment, and is therefore more beneficial in my analysis. However, the 95% Conventional loan with no MI now becomes the lowest payment option, in spite of a higher interest rate (required to cover the cost of the Mortgage Insurance, which is paid as a lump sum upfront by the lender at no cost to the borrower).

Check out our next post for more reasons why FHA will still be the loan of choice for many.

Here is a link to the spreadsheet of the numbers for these low down payment options.

VanDyk Mortgage is a FHA Lender offering FHA, FHA Jumbo, FHA Streamline, and FHA 203K Renovation and 203K rehab loans thoughout California and Washington state. Call Brian Skaar direct at 760-752-4480 to get started.

Click on the table below to enlarge:

House Bill 5981 authorizes increased FHA Mortgage Insurance Premiums

House Bill 5981 authorizes increased FHA Mortgage Insurance Premiums

Congress passed house bill 5981 this week, authorizing FHA, The Federal Housing Administration, to increase the Annual Mortgage Insurance Premium. Here is a letter from FHA Commissioner Stevens on the MIP changes.

There is good news and bad news. The good news is that the Upfront Mortgage Insurance Premium (UFMIP on your HUD1/Good Faith Estimate) is being reduced to 1.0% from the current level of 2.25%. Now the bad news: The Annual Mortgage Insurance Premium (which is paid monthly by the FHA Borrower) is increasing from .55% to .90% for FHA loans above 95% Loan to value, and from .50% to .85% for FHA Loans at 95% or lower loan to value.

So the important questions are:

When does it go into effect? The new rates will apply to all FHA case numbers dated Sept 7, 2010 and later. FHA Case #'s prior to this date can still qualify for the existing MIP rates.

How does it effect my FHA loan? This will only effect new FHA Loans, existing FHA Loans will adhere to the their current MIP Rates (ie no changes).

Is it more expensive or cheaper than now? The overall cost to the borrower actually increases with the new MIP Rates. On a $100K home purchase, with a 4.5% 30 year fixed FHA Loan, the monthly PIMI (Principal, Interest, Mortgage Insurance) payment will be $566.94 on the new plan. The old MIP rates would have yielded a PIMI of $554.12, about $12 per month lower. You can also extrapolate your effect for your potential loan as this payment sample is per $100K purchased.

Now $12 per month is not the end of the world, but the increased monthly cost of MIP will reduce the homebuying power of Americans in a time we are trying to keep housing strong with good financing options. The cost over 5 years is about $2,133 total. FHA Jumbo Loans will feel the impact the most, as the loan amounts are much higher (up to $729,750)

However, FHA Loans still offer huge benefits to qualified borrrowers for many reasons. Check out our next post as we examine why FHA Loans are still a better choice for many homebuyers and refinancers even with the higher MIP rates.

What should I do? If you have been thinking about refinancing with a FHA Loan, purchasing with an FHA Loan, or Streamline Refinancing your FHA Loan, the time to move is now. Call us to get started, and lock in the old MIP rates for your loan before they go up.

Check out the FHA Loan Limits for your County:

2010 FHA Loan limits for California

2010 FHA Loan limits for Washington

Please contact Brian Skaar direct at 760-752-4480 or visit us online to get started now at www.vandykfunding.com. We are Direct Lenders offering FHA, FHA Jumbo, FHA 203K, and FHA Condo Loans. (plus VA, VA Jumbo, and VA Condo Loans).

Chula Vista VA Loans and FHA Home Mortgage Loans - VanDyk Mortgage - VA Lender & FHA Lender.

Chula Vista 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 Chula Vista. We have been making FHA, VA, Conforming, and Jumbo loans since 1987. VanDyk Mortgage is a Direct Lender. We offer many loan programs for Chula Vista Homebuyers and Chula Vista 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

Chula Vista FHA Loans are available up to $697,500 with just 3.5% down payment. The FHA 2010 Loan Limit for Chula Vista is $697,500. Chula Vista FHA Loans that are over $417K up to $697,500 are called FHA Jumbo or FHA High Balance loans.

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

Chula Vista Conforming Loans are available up to $697,500. The Chula Vista Conforming Jumbo Loans (aka Conforming High Balance, those over $417,000 and up to $697,500) require a minimum of 10% downpayment or equity.

Here are some links to local Chula Vista information:

• Chula Vista City Website
• Chula Vista Crime Maps
• Chula Vista Statistics, Demographics, & Info
• Chula Vista Real Estate
• Chula Vista School info
• Chula Vista Wiki

Chula Vista Home Loan information

FHA Home loans in Chula Vista, California:

• FHA Home Loans require just 3.5% downpayment
• FHA Jumbo Loans up to $697,500 (aka FHA High Balance)
• The $697,500 is the base loan amount - the Chula Vista FHA Loan Limit of $697,500 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 Chula Vista, California:

• Active Duty Military and Veterans can both qualify
• 100% financing up to $437,500
• A $500K Chula Vista 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

Conforming Home Loans in Chula Vista, California:

• Available up to $697,500 with the Conforming High Balance (aka conforming Jumbo)
• Conforming Jumbo loans for Chula Vista require 10% downpayment (up to 90% ltv)
• Chula Vista Conforming loans available up to $417,000
• require a minimum of 5% downpayment or up to 95% LTV (up to $417,000)
• 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.

Chula Vista Zip codes include 91909, 91910, 91911, 91912, 91913, 91914, 91915, 91921. Chula Vista Area codes include the 619 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, San Marcos, Oceanside, Fallbrook, Bonsall, San Diego, Rancho Bernardo, Escondido, Carmel Valley, Scripps Ranch, Tierra Santa, El Cajon, La Jolla, Chula Vista, National City, San Ysidro, Santee, Eastlake, Ramona, Temecula, Murrieta, and Valley Center. We also service San Francisco, San Jose, Los Angeles, and all parts of California & Washington. 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.

For more information on Chula Vista VA loans and FHA Loans - check out:

http://www.vadirectlenders.com/

http://www.fhadirectlenders.com/

www.activerain.com/blogs/bskaar

Vandykmortgage.blogspot.com