FHA Myth #5 - FHA Streamline Refinances have to be with the same lender who currenly has your loan. Wrong. FHA makes no distinction here. You can get your FHA Streamline Refinance with your current lender or a new lender (such as VanDyk Mortgage). Won't my current lender waive fees & points
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02/08/2009
The 2009 Stimulus bill being considered in the Senate and House this week includes a new Tax Incentive for Home Buyers of $15,000. Wow, that is alot of money! This is a Tax Credit, not a Tax deduction - Translated - a check from Uncle Sam for $15K. I have heard differing news as to whether t
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02/08/2009
VanDyk Mortgage is proud to introduce our new Jumbo Loan Programs. We call it our Premier Jumbo Line. Here are the basics: > Available in 3yr ARM, 5 yr ARM, or 7 yr ARM (+ 15 yr fixed). > Principal & Interest or Interest Only (10 yr period) > Loan to Value ratios up to 80% (70% in decl
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02/08/2009
The Headline is Correct: VA now allows 100% refinances up the VA Loan Limit for your area. VA refinances are no longer capped at 90% of your current appraised value. This change will allow Veterans, Active Duty Members & Reservists the option to refinance their non VA loans into safe, secure
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02/08/2009
New VA rules for 2009 have created better Refinance options for US 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
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02/08/2009
** this is an update on the reintroduction of the Home Ownership Accelerator (the HOA) We are still expecting this loan to be available in the first quarter of this year, stay tuned One of the unfortunate casualties of the Mortgage Meltdown was the Home Ownership Accelerator loan program. Thi
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02/08/2009
New for 2009 with FHA Jumbo Loans are some changes to the second appraisal requirements for FHA Jumbo Loans. For FHA Jumbo loans the threshold for loans that require a second appraisal was those loans over $362,800 in 2008. The new Threshold for 2009 is $417,000. All FHA Loans $417,001 and a
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02/08/2009
Limits on number of properties financed - Updated 1-23-2014There have been many changes in lending the past few years and this post will deal with the maximum number of properties financed. Here is a quick guide to our rules on this:Fannie Mae (FNMA) and Freddie Mac (FHLMC) have a limitation of
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02/08/2009
FHA refinance - what do I do with my second mortgage? With many American families losing equity in their homes, and the loose lending practices of the past few years by the big banks, FHA home loans have become the standard again for both Homebuyers and Home owners wishing to refinance. One of
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02/08/2009
VanDyk Mortgage is proud to offer our Homestyle Renovation loan. This is a conventional loan that can help you finance the renovation of a new home purchase, or an existing home with a Refinance. You will qualify for this loan much like a standard Conventional Conforming loan. The exception
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02/08/2009
