New VA rules allow better Refinance options for Vets & Active Duty Service Members

New VA rules allow better Refinance options for USA Vets & Active Duty Service
Members.

The new VA rules allow Vets & Active Duty Service Members to refinance their non VA home loans into safe, secure VA Fixed Rate Home Loans up to 100% of their homes appraised value. This new program should help thousands of USA Vets & Active Duty Service Members to save their homes, solidify their financial future, and start building wealth for the future.

If you need to Refinance your Non-VA home loan, the new VA Refinance offers you the best option for affordability, and it is very reasonable to qualify. The former limit for this type of transaction was 90% of the home's value and $144,000. It is now 100% of your home's value and the loan limits go as high as $1,094,625 in some counties. To find out the loan limit for your county, click here.

Call the Government Loan Experts at VanDyk Mortgage today at 866-900-2342. http://www.vandykfunding.com/.

We serve the following areas for VA, 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.

New 2009 VA Loan Limits - a snapshot

New VA Loan Limits for 2009 are now available.

The new limits range from the base limit of $417,000 up to $1,094,625 in the highest cost areas.

All VA loans require ZERO Mortgage Insurance, and as little as ZERO down payment.

Here are some of the new county limits:

CA
ALAMEDA
$1,094,625.00

CA
ALPINE
$503,750.00

CA
CONTRA COSTA
$1,094,625.00

CA
EL DORADO
$516,250.00

CA
LOS ANGELES
$737,500.00

CA
MARIN
$1,094,625.00

CA
MONO
$575,000.00

CA
MONTEREY
$525,000.00

CA
NAPA
$643,750.00

CA
NEVADA
$518,750.00

CA
ORANGE
$737,500.00

CA
PLACER
$516,250.00

CA
SACRAMENTO
$516,250.00

CA
SAN BENITO
$937,500.00

CA
SAN DIEGO
$593,750.00

CA
SAN FRANCISCO
$1,094,625.00

CA
SAN LUIS OBISPO
$610,000.00

CA
SAN MATEO
$1,094,625.00

CA
SANTA BARBARA
$656,250.00

CA
SANTA CLARA
$937,500.00

CA
SANTA CRUZ
$805,000.00

CA
SOLANO
$435,000.00

CA
SONOMA
$566,250.00

CA
VENTURA
$650,000.00

CA
YOLO
$516,250.00


FL
COLLIER
$487,500.00

FL
MONROE
$575,000.00

GA
GREENE
$560,000.00


WA
KING
$550,000.00

WA
PIERCE
$550,000.00

WA
SAN JUAN
$525,000.00

WA
SNOHOMISH
$550,000.00

The maximum guaranty amount (available for loans over $144,000) is 25 percent of the 2009 VA Limit shown below. Therefore, a veteran with full entitlement available may borrow up to the 2009 VA Limit shown below and VA will guarantee 25 percent of the loan amount. If a veteran has previously used entitlement that has not been restored, the maximum guaranty amount available to that veteran must be reduced accordingly.

VanDyk Mortgage is a Direct VA lender, and has been making VA Loans since 1987. Visit us on the web for more info or to apply for your VA Loan at http://www.vandykfunding.com/

VA loan enhancements for 2009

Enhanced VA home loan options are available for 2009 thanks to the Veteran's Benefits Improvement Act of 2008, passed on Oct. 10, 2008. The new VA home loan changes include higher loan limits (click here for 2009 VA loan limits by County).

VA Loans can now help Veterans and active service members refinance their non-VA loans into safe, secure, & fixed rate VA Loans. Previously, this type of refinance was only available up to $144,000. Now you can refinance into VA Loans up to $729,750 (depending on your county limit). Another huge change is that Veterans & active service members can refinance up to 100 percent of the property value (this was capped at 90% before).

For questions regarding calculation of your Entitlement under the VA Loan program call Brian Skaar at 866-900-2342 toll free direct. Your entitlement is now increased and we can help you figure out your eligibility based on the newest figures. It is likely more than you thought.

VanDyk Mortgage is a VA Direct Lender, and has been since 1987. We also offer FHA Loans, Fannie & Freddie Conventional loans, Jumbo Loans, and construction loans. Visit us on the web at www.vandykfunding.com.

 We offer VA Loans,  FHA Loans, USDA Loans, and more across Tennessee.   

Help for US homeowners

Help for US homeowners came this past week in the form of Increased Loan limits for Fannie Mae (FNMA), Freddie Mac (FHLMC), and Ginnie Mae (Government loans such as FHA, VA, & FHA Secure). This week the United States Congress, the US Senate and our President, G.W. Bush all came to an agreement on an economic stimulus bill that includes a very important set of provisions for Homeowners. It increases the loan limits for the above entities from a cap of $417,000 for Fannie & Freddie and $362K for FHA to as much as $729,750 in high cost areas such as Coastal California, parts of Florida, New York, and select markets. This is likely to help many thousands of homeowners refinance and purchase homes with affordable, secure financing for their homes during the next year. The increases are temporary (until December 31, 2008) for some of the programs, so those looking to refinance or purchase a home should contact us very soon to get started. This will not only result in lower rates for many loans formerly considered "Jumbo", but will help many folks get qualified as these loan programs allow financing up to 97% of a homes appraised value without large penalties or rate increases.

This is welcome relief for thousands of Adjustable Rate Mortgage (ARM) holders who are worried about interest rate resets and increased payments that can now lock into a more secure 30 year fixed rate mortgage at competitive rates.

VanDyk Mortgage is ready to meet the increased demand with our simple streamlined process for loan application & documentation gathering. Consumers can apply direct at www.vandykfunding.com, then go to the secure "loan application" button at the top of the page. Our processes are largely paperless, which will reduce the timelines for your loan approval and closing. This will help you ensure the best rate for your loan.

VanDyk Mortgage is a privately held Mortgage Banker offering loans accross much of the nation. We have been in business over 21 years, offering FHA, VA, and Conventional financing direct. We are considered experts at FHA loans due to our large volume with HUD. VanDyk Mortgage is a "Full Eagle" FHA Direct Endorsement underwriter (title earned from HUD based on performance) an accomplishment that we are very proud of. This helps us to get you approved for FHA loans, whereas some banks may lack the leverage to help out those with some credit issues.

Please visit us online at www.vandykfunding.com or give us a call at 866-900-2342 to ask us any questions you may have about your loan, the mortgage market, or just to say hello.