Fannie & Freddie extend HARP Refinance program for underwater homeowners - HARP -Home Affordable Refinance Program

Fannie & Freddie extend HARP Refinance program for underwater homeowners - HARP -Home Affordable Refinance Program for conventional conforming loans.

The regulator for Government run Fannie Mae and Freddie Mac has authorized a 1 year extension on the HARP Refinance initiative until June 2011. This is also called the Home Affordable Refinance Program. This program allows homeowners with loans currently owned by Fannie Mae or Freddie Mac to refinance with expanded qualifications.

The Fannie Mae program is called Refi Plus or DU Refi Plus. This program allows several benefits to refinance:

> allows you to refinance your mortgage up to 125% of your current value

> allows for reduced income and asset documentation (definitely not stated income however)

> allows for appraisal waivers in some cases, saving you the time and expense of an appraisal

> allows you to take advantage of the low interest rates you may have missed out on!

> these are available up to the conforming loan limits for your county (see below for links)

The Freddie Mac program is called the Freddie Mac Relief program - Open Access. This program allows several benefits to refinance:

> allows you to refinance your mortgage up to 125% of your current value

> allows for reduced income and asset documentation (definitely not stated income however)

> allows you to take advantage of the low interest rates you may have missed out on!

> You are no longer restricted to using your current lender on your loan to complete your Freddie Mac Relief Refinance - We can help.

> these are available up to the conforming loan limits for your county (see below for links)

Click here for California Loan Limits

Click here For Washington Loan limits

For Washington State residents, we offer Conforming and Conforming Jumbo Loans for Single Family Homes up to $567,500 in King, Snohomish, and Pierce Counties. Up to $593,750 in San Juan County, and $475,000 in Kitsap County.

For California State residents, we offer Conforming and Conforming Jumbo (aka High Balance) for Single family Homes up to $697,500 in San Diego County, up to $729,750 in Los Angeles, Orange, Ventura, San Francisco, San Mateo, Santa Clara, Contra Costa, Alameda, Marin, Monterey, Napa, Santa Barbara, Santa Cruz, San Benito counties, up to $580,000 in Sacramento, Placer & El Dorado counties, Sonoma county up to $662,500, and up to $500,000 in Riverside and San Bernardino counties.

VanDyk Mortgage is a Direct Lender. To get started, contact us at 760-752-4480 (Brian Skaar Direct), or apply online at http://www.vandykfunding.com/.

California FHA Loan Limits for 2010

VanDyk offers FHA Loans up to the full FHA loan limit for every county that we serve. FHA Loans for single family homes are available up to $729,750 in higher cost counties such as Los Angeles, San Francisco, Alameda, Contra Costra, Monterey, Orange County, Santa Clara, Santa Cruz, Ventura, San Benito, Marin, and Santa Barbara. San Diego Homebuyers and Homeowners can get FHA Loans up to $697,500, Riverside and San Bernardino up to $500,000, Sacramento, El Dorado, and Placer counties up to $580,000. Here is a list of the FHA loan limits for Single Family, Duples, Tri-plex and Four-Plex for all California counties:

County Name Single Family Duplex Tri-plex Four-plex


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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 $400,000 $512,050 $618,950 $769,250
CHICO, CA (MSA)


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


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COLUSA $397,500 $508,850 $615,100 $764,400
NON-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 $311,250 $398,450 $481,650 $598,550
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 $287,500 $368,050 $444,900 $552,900
NON-METRO


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HUMBOLDT $393,750 $504,050 $609,300 $757,200
EUREKA-ARCATA-FORTUNA, CA (MICRO)


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IMPERIAL $325,000 $416,050 $502,900 $625,000
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 $368,750 $472,050 $570,600 $709,150
BAKERSFIELD, CA (MSA)


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KINGS $325,000 $416,050 $502,900 $625,000
HANFORD-CORCORAN, CA (MSA)


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LAKE $401,250 $513,650 $620,900 $771,650
CLEARLAKE, CA (MICRO)


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LASSEN $285,000 $364,850 $441,000 $548,050
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 $412,500 $528,050 $638,300 $793,250
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 $271,050 $347,000 $419,425 $521,250
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 $410,000 $524,850 $634,450 $788,450
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 $304,750 $390,100 $471,550 $586,050
NON-METRO


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SISKIYOU $293,750 $376,050 $454,550 $564,900
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 $312,500 $400,050 $483,550 $600,950
RED BLUFF, CA (MICRO)


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TRINITY $271,050 $347,000 $419,425 $521,250
NON-METRO


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TULARE $325,000 $416,050 $502,900 $625,000
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)


VanDyk Mortgage has been making FHA 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 at 760-752-4480 for help with your FHA loan.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.

FHA Loan information

I have consolidated all of my new FHA Loan Posts, VA Loan Posts, and other Jumbo Loan posts and updates into our main blog, vandykmortgage.blogspot.com. This will make it easier to keep track of all the new loan program changes as they come down the pike.

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. Still, many more are 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 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.

No declining market restrictions - 100% cash out - VA Loans

There are No declining market restrictions on our 100% cash out refinance VA Loans.

I forgot to mention this in the last blog post; blog post on 100% cash out VA refinances.

There is no limitation on which states qualify for the 100% cash out refi option on these loans, there is no additional declining market cap on LTV like Fannie, Freddie, & private loans. All "declining" markets are fully eligible for these loans, including California, Arizona, Nevada, Florida, Georgia, etc.

100% financing in California

100% financing in California. It still exists.

Fannie, Freddie, & the Private Mortgage Insurance companies have limited California purchases to a minimum of 10% down payment, or a maximum of 90%.

For Veterans & Active Duty Service members the VA loan still offers 100%, no money down financing in California. Recent enhancements for 2009 loans have increased the loan limits, and your entitlement might be higher that you thought. For example, San Diego VA loans are available up to $593,750, Los Angeles up to $737,500, Orange County up to $737,500, and San Bernardino / Riverside up to $417,000.

For non-Military, FHA is an incredible option for Home ownership at just 3.5% downpayment required.

VanDyk Mortgage is a Direct VA Lender and Direct FHA Lender. www.VanDykFunding.com