Flip Rules for Conventional Loans - we require only 1 day

Flip Rules for Conventional Loans - We only require that the seller own the home for 1 day prior to resale.

The Owner seasoning requirement on our Conventional Loans is one day. That is right, one day. Why is this important you ask? Well, many lenders have begun to require that sellers own a home for 90-180 days before it is eligible for their Conventional Financing. Fannie Mae and Freddie Mac are both examples of Conventional Financing. We do not require these waiting periods.

Owner Seasoning simply means how long the current owner has owned the property.

VanDyk only requires that the seller is the owner of record on the day the contract is signed.

Many other lenders have added restrictions that reduce the eligibility for homes that were recently purchased and rehabbed to be sold again within 90 - 120 days. Investors may have purchased the home at a foreclosure auction, or direct from a bank. Many of these homes have been completely rehabilitated, making them a more desirable home to buy - They are Turn key homes.

Our Underwriting Rules can help you avoid the issue of seller seasoning, Flip Rules, and big bank rules that restrict access to quality Conventional Loans.

Get started on your New Home loan with the Loan Pros at VanDyk. Visit us at http://www.vandykfunding.com/ to apply online, or call 760-752-4480 and ask for Brian Skaar.
VA Condo's also qualify under our VA Flip Rules.

2010 CA Conventional Loan Limits by County

2010 California FNMA & FHLMC - Fannie Mae & Freddie Mac Loan limits 2010

Fannie Mae & Freddie Mac have retained the expanded 2009 loan limits for 2010. The standard conventional loan limit remains at $417K accross the USA. This is also called the Conforming Loan Limit ($417K). High Cost Areas have loan limits based on the new formula in the 2008 housing bill passed in July of 2008, and are also called Conforming Jumbo, High Balance, or Super Conforming loans.

There are different ratios and loan to value ratios for the Fannie Mae & Freddie Mac loans that exceed the standard limit of $417K. They require a minimum of 10% down payment and a maximum debt ratio of 45%.

We also posted updates regarding the 2010 California FHA loan limits here.

ALAMEDA $729,750 $934,200 $1,129,250 $1,403,400
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION


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ALPINE $547,500 $700,900 $847,200 $1,052,900
NON-METRO


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AMADOR $443,750 $568,050 $686,650 $853,350
NON-METRO


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BUTTE $417,000 $533,850 $645,300 $801,950
CHICO, CA (MSA)

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CALAVERAS $462,500 $592,050 $715,700 $889,450
NON-METRO


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COLUSA $417,000 $533,850 $645,300 $801,950NON-METRO


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CONTRA COSTA $729,750 $934,200 $1,129,250 $1,403,400
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION


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DEL NORTE $417,000 $533,850 $645,300 $801,950

NON-METRO
CRESCENT CITY, CA (MICRO)


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EL DORADO $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA (MSA)


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FRESNO $381,250 $488,050 $589,950 $733,150
FRESNO, CA (MSA)


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GLENN $417,000 $533,850 $645,300 $801,950

NON-METRO

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HUMBOLDT $417,000 $533,850 $645,300 $801,950

EUREKA-ARCATA-FORTUNA, CA (MICRO)


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IMPERIAL $417,000 $533,850 $645,300 $801,950

EL CENTRO, CA (MSA)


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INYO $437,500 $560,050 $677,000 $841,350
BISHOP, CA (MICRO)


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KERN $417,000 $533,850 $645,300 $801,950
BAKERSFIELD, CA (MSA)


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KINGS $417,000 $533,850 $645,300 $801,950
HANFORD-CORCORAN, CA (MSA)


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LAKE $$417,000 $533,850 $645,300 $801,950

CLEARLAKE, CA (MICRO)


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LASSEN $417,000 $533,850 $645,300 $801,950

SUSANVILLE, CA (MICRO)


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LOS ANGELES $729,750 $934,200 $1,129,250 $1,403,400
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN D


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MADERA $425,000 $544,050 $657,650 $817,300
MADERA, CA (MSA)


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MARIN $729,750 $934,200 $1,129,250 $1,403,400
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI


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MARIPOSA $417,000 $533,850 $645,300 $801,950
NON-METRO


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MENDOCINO $512,500 $656,100 $793,050 $985,600
UKIAH, CA (MICRO)


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MERCED $472,500 $604,900 $731,150 $908,650
MERCED, CA (MSA)


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MODOC $417,000 $533,850 $645,300 $801,950
NON-METRO


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MONO $529,000 $677,200 $818,600 $1,017,300
NON-METRO


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MONTEREY $729,750 $934,200 $1,129,250 $1,403,400
SALINAS, CA (MSA)


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NAPA $729,750 $934,200 $1,129,250 $1,403,400
NAPA, CA (MSA)


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NEVADA $562,500 $720,100 $870,450 $1,081,750
TRUCKEE-GRASS VALLEY, CA (MICRO)


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ORANGE $729,750 $934,200 $1,129,250 $1,403,400
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION


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PLACER $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA (MSA)


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PLUMAS $417,000 $533,850 $645,300 $801,950
NON-METRO


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RIVERSIDE $500,000 $640,100 $773,700 $961,550
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)


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SACRAMENTO $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA (MSA)


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SAN BENITO $729,750 $934,200 $1,129,250 $1,403,400
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA)


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SAN BERNARDINO $500,000 $640,100 $773,700 $961,550
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)


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SAN DIEGO $697,500 $892,950 $1,079,350 $1,341,350
SAN DIEGO-CARLSBAD-SAN MARCOS, CA (MSA)


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SAN FRANCISCO $729,750 $934,200 $1,129,250 $1,403,400
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI


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SAN JOAQUIN $488,750 $625,700 $756,300 $939,900
STOCKTON, CA (MSA)


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SAN LUIS OBISPO $687,500 $880,100 $1,063,850 $1,322,150
SAN LUIS OBISPO-PASO ROBLES, CA (MSA)


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SAN MATEO $729,750 $934,200 $1,129,250 $1,403,400
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI


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SANTA BARBARA $729,750 $934,200 $1,129,250 $1,403,400
SANTA BARBARA-SANTA MARIA, CA (MSA)


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SANTA CLARA $729,750 $934,200 $1,129,250 $1,403,400
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA)


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SANTA CRUZ $729,750 $934,200 $1,129,250 $1,403,400
SANTA CRUZ-WATSONVILLE, CA (MSA)


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SHASTA $423,750 $542,450 $655,700 $814,900
REDDING, CA (MSA)


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SIERRA $417,000 $533,850 $645,300 $801,950
NON-METRO


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SISKIYOU $417,000 $533,850 $645,300 $801,950
NON-METRO


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SOLANO $557,500 $713,700 $862,700 $1,072,150
VALLEJO-FAIRFIELD, CA (MSA)


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SONOMA $662,500 $848,100 $1,025,200 $1,274,050
SANTA ROSA-PETALUMA, CA (MSA)


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STANISLAUS $423,750 $542,450 $655,700 $814,900
MODESTO, CA (MSA)


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SUTTER $425,000 $544,050 $657,650 $817,300
YUBA CITY, CA (MSA)


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TEHAMA $417,000 $533,850 $645,300 $801,950
RED BLUFF, CA (MICRO)


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TRINITY $417,000 $533,850 $645,300 $801,950
NON-METRO


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TULARE $417,000 $533,850 $645,300 $801,950
VISALIA-PORTERVILLE, CA (MSA)


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TUOLUMNE $437,500 $560,050 $677,000 $841,350
PHOENIX LAKE-CEDAR RIDGE, CA (MICRO)


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VENTURA $729,750 $934,200 $1,129,250 $1,403,400
OXNARD-THOUSAND OAKS-VENTURA, CA (MSA)


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YOLO $580,000 $742,500 $897,500 $1,115,400
SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA (MSA)


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YUBA $425,000 $544,050 $657,650 $817,300
YUBA CITY, CA (MSA)


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.

We now offer 95% financing in California with no MI on select homes

We now offer 95% financing in California with no MI on select homes
When you purchase a Fannie Mae Owned Foreclosure Property, you may be eligible for our new
Fannie Foreclosure Mover Loan. This new loan allows you to finance up to 95% of the Purchase price with ZERO Mortgage Insurance (MI).

Loan amounts up to $417K are eligible up to 95%.

This is even available in California with these terms.

There are no Declining Market restrictions on this loan program.

We also offer these for the High Balance or Conforming Jumbo Loan sizes up to 90% of the purchase price of the home. This would help homebuyers looking at Fannie Mae properties in Los Angeles with loans up to $729,750, San Jose up to $729,750, San Francisco up to $729,750, San Diego up to $697,500. For more details on the higher 2009 loan limits just released, click here.

Call today: 760-752-4480 - Brian Skaar - VanDyk Mortgage - Direct Lenders - Direct Savings.

We offer this program in all of our loan markets: 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.