Brian's Blog

Enhanced Options for Fannie Mae and Freddie Mac Refinances - HARP 2012 is here

Fannie Mae & Freddie Mac have extended and enhanced teh HARP Refinance program into 2012 for California homeowners - HARP -Home Affordable Refinance Program for Conventional Conforming loans.

The Regulator for Government run Fannie Mae and Freddie Mac has authorized an extension on the HARP Refinance initiative throughout 2012 for California Homeowners.  This is also called the Home Affordable Refinance Program.   This program allows California homeowners with loans currently owned by Fannie Mae or Freddie Mac to refinance with expanded qualifications such as reduced appraisal requirements, No Maximum Loan to Value Limit, reduced income documention, etc.

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

> allows you to refinance your mortgage up to and over 125% of your current value - there is no longer a ceiling or maximum Loan to Value

> reduced add-on costs that Fannie and Freddie formerly added to these loans

> 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 while they last!

> Second Homes and Investment Properties qualify as well

> your current loan must have been delivered to Fannie Mae before June 1, 2009

> Fannie Mae Loans over $417K also eligible!

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 and over 125% of your current value - there is no longer a ceiling or maximum Loan to Value

> reduces the add-on costs that Fannie and Freddie formerly added to these loans

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

> allows you to take advantage of the low interest rates available now!

> You are not restricted to using your current lender on your loan to complete your Freddie Mac Relief Refinance - We can help regardless of your current loan servicer or Lender.

> your current loan must have been delivered to Freddie Mac before June 1, 2009

> Second Homes and Investment Properties qualify as well

> Freddie Mac Loans over $417K also eligible!

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

We proudly serve the following Cities in California: Anaheim, Bakersfield, Carlsbad, Chula Vista,Corona, Coronado, Encinitas, Escondido, Fremont, Fresno, Huntington Beach, Irvine, Lake Elsinore,Long Beach, Los Angeles, Menifee, Monterey, Moreno Valley, Murrieta, National City, Oakland, Oceanside, Pasadena, Poway, Rancho Bernardo, Riverside, Sacramento, San Bernardino, San Diego, San Francisco, San Jose, San Marcos, San Mateo, Santa Ana, Santa Barbara, Santa Clara, Santa Monica, Santa Rosa, Temecula, Ventura, Vista, Wildomar

Low Down, No Down and Zero Down Payment Mortgage Loan options for Washington Homebuyers in 2012

Here are the 2012 options for No Down, Low Down and Zero down payment home loans for Washington State Home buyers.  Below is a list of our Low, No, and Zero Downpayment loan options for Washington state Home buyers for 2012 - Including Conventional, FHA, VA, USDA RD Loans, FHA Jumbo, and VA Jumbo loans:

>>be sure to click on the links to find out more info about each low downpayment option

No Downpayment Home Loans in Washington:

• VA Loan - up to 100% financing with zero down required, up to $417K
• VA Jumbo Home Loan - up to 100% financing with zero down required - up to your County VA Loan Limit - $500K for Seattle, Tacoma, and Everett, and surrounding areas
• USDA RD Loan or Rural Development Home Loans - up to 100% financing with zero down payment required

Low Downpayment Home Loans in Washington:

• 3% down Conventional Loans (97% ltv) up to $417K
• 5% down Home Loans (95% ltv) up to $417K
• 3.5% down FHA loans - up to $417K (or your county FHA Loan limit)
• 3.5% down FHA Jumbo Home Loan - up to your county FHA Loan Limit (example - $567,500 in Seattle, Tacoma, Bellevue, Everett, Kirkland, Bothell, Des Moines, etc)
• 1-10% downpayment -VA Jumbo Home Loans over your county loan limit (example - 4.17% down on $600K purchase price in King, Snohomish, or Pierce counties)
• 10% down on Conforming Jumbo Home Loans- Fannie Mae High Balance Loans - up to $506,000 Loan Amount in Seattle, Tacoma, Puyallup, Federal Way, Everett, Mukilteo, Kirkland, Bellevue, Redmond, Issaquah, Renton, Auburn, Kent, Bonney Lake, Sumner, and more.

Low Down Payment options for California Homebuyers in 2012 (and no downpayment options!)

Here is a quick overview of Low Downpayment and No Downpayment loan options for California Homebuyers in 2012 - Including Conventional, FHA, VA, USDA RD Loans, FHA Jumbo, and VA Jumbo loans:

>>be sure to click on the links to find out more info about each low downpayment option

No Downpayment Home Loans in California in 2012: 

• VA Home Loan - up to 100% financing with zero down required, up to $417K
• VA Jumbo Home Loan - up to 100% financing with zero down required - up to your County VA Loan Limit 
• USDA RD or Rural Development Home Loans - up to 100% financing with zero down payment required

Low Downpayment Home Loans in California in 2012:

• 3% down Conventional Loans (97% ltv) up to $417K
• 5% down conventional Loans (95% ltv) up to $417K
• 3.5% down FHA Home loans - up to $417K (or your county FHA Loan limit)
• 3.5% down FHA Jumbo Home Loan - up to your county FHA Loan Limit (example - $729,750 in LA, SF, OC, etc)
• 1-10% downpayment -VA Jumbo Loans over your county loan limit (example - 5.1% down on $795K purchase price in SF, Oakland, LA or OC)
• 10% down on Conforming Jumbo - Fannie Mae High Balance Loans - up to $625,500 Loan Amount in SF, LA, OC, San Jose, Ventura, and more.