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What is a VA Direct Lender?

What is a VA Direct Lender?   We just answered a similar question about FHA Direct Lenders in a previous post, so I thought this question also deserved an answer.   Many clients and Realtors have an assumption that the VA (Veterans Administration) underwrites and approves VA Loans for our Veterans.  

The VA (Veterans Administration) does not make loans.   The VA guarantees loans made by private lenders.   The VA does not underwrite, approve, or fund loans.   Private lenders make, underwrite, and fund VA Loans per the guidelines that VA sets for us, then sends them to VA after the loan is complete for certification of the eligibility for VA Guaranty.   

The VA Guarantees loans while FHA Insures loans.   Semantics really.   In the end they are partnering to share the risk with lenders so that Homeowners can get Affordable FHA or VA Financing.  

A Direct Lender is a Lender that originates, underwrites, and funds loans in their own name with their own monies.   The loans may be sold at a later time (weeks or years).   Both small mortgage banks and the big banks practice this method.   Very few banks hold loans for their duration.

A VA Direct Lender is not approving your loan direct with VA, or representing VA.   They originate, underwrite and fund VA Loans per VA guidelines as a Direct lender, and then submit to VA for certification of the VA Guaranty.  

It is to your advantage as a consumer or Realtor to work with an experienced VA Direct Lender vs a broker, as we have more experience in writing quality VA Loans, can work faster than a broker, and offer competitive terms.

VanDyk Mortgage is a Direct Lender offering VA Loans, VA Jumbo Loans, FHA Loans, FHA Jumbo Loans, Conforming loans, and Jumbo Loans.   We service California & Washington, including San Diego, Seattle, San Francisco, San Jose, Los Angeles, Riverside, and all parts in between.  

 

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Fast Forward Approval - the Smartest Way to get Pre-Approved

 

 

 

Government Loan Pros- VA FHA USDA FHA Jumbo VA Jumbo 203K

 

We proudly offer a full array of Government Conventional, and Jumbo loan Options including FHAVAUSDAFHA JumboVA Jumbo, VA Refinance, Conventional, JumboVA Condo loans,   FHA 2-4 Unit LoansVA 2-4 Unit Loans, FHA 203K Rehab Loans,  5% down Conventional loans Conventional Condo's OK to 95%,  95% conventional purchase with ZERO Monthly PMI, and more.  

 

Veterans:  We are able to help Veterans with a new home purchase with a VA Loan or VA Jumbo Loan as soon as 2 years after Bankruptcy, Foreclosure, or Short Sale (even sooner if Short Sale involved no late payments).  Call Today - get back into homeownership!  

 

--> VA Loan Limits for 2016.  Learn More - Up to $625,500 with zero money down VA Jumbo Loan 

 

--> VA Loans over the County VA Loan Limit - yes, we allow this:   Read more detail on how to get a VA Loan Over your County VA Loan Limit here  VA Loans up to $1.5M!

 

--> Answers to Common VA Loan Questions - VA FAQ Series

We serve the entire state of California  including: Anaheim,  Antioch,  Bakersfield, Brentwood, Burbank,  Carlsbad,   Chula VistaCorona,  Coronado, Downtown San Diego, EncinitasEscondido, Fallbrook,  Fremont,  FresnoHermosa Beach, Huntington BeachIrvineLong BeachLos Angeles, Marina Del Rey,   Menifee, Monterey, MurrietaOakland, Oakley,  Oceanside,  Ontario,  Pasadena ,  Poway,   Rancho Cucamonga,  Redlands,   Riverside,   Sacramento,        San BernardinoSan DiegoSan FranciscoSan JoseSan MarcosSan MateoSanta Ana,  Santa Clarita,   Santa MonicaTemecula, Torrance, Ventura, Vista, and all other CA Cities and areas.

 

We now serve the entire state of Virginia including Virginia Beach, Norfolk, Chesapeake, Richmond, Newport News, Alexandria, Hampton, Roanoke, Portsmouth, Suffolk, and all other Virginia Cities, Towns and Counties. 

 

We also serve the entire state of  Washington including:  Auburn, Bellevue, Bellingham, Bonney Lake, Bothell, Bremerton, Des Moines, Edmonds, Everett, Federal Way, Ferndale, Issaquah, Kent, Kirkland, Lacey, Lake Stevens, Lynnwood, Mercer Island,  Mill Creek, Monroe,  Montlake Terrace, Mt Vernon, Mukilteo, Olympia, Puyallup, Redmond, Renton, Seatac, Seattle, Silver Lake, Snohomish, Spokane, Sumner, Tacoma, Tumwater, Vancouver, Wenatchee, Woodinville, Yakima and all other WA cities and towns. 

 

We also serve Colorado, GeorgiaMassachusetts, Michigan, Mississippi,  Indiana, Tennessee, Texas, and Wyoming Homebuyers and Homeowners.  

 

VA Loan Limits 2016     FHA Loan Limits 2016     Conforming Loan Limits 2016

All information is subject to change without notice.

Licensing   Fair Lending    Privacy Policy    Complaints    

State of NY Disclosure    TX Disclosure    General Disclosure

 

Residentional Mortgage Lender registered by the VA Department of Business Oversight

Georgia Residential Mortgage Licensee #39449

VanDyk Mortgage is a private company specializing in FHA & VA financing,  VanDyk Mortgage Corp is not a government agency. Corp 2449 Camelot Ct SE, Grand Rapids, MI 49546 

 

Branch address  310 Via Vera Cruz, ste 210 & 211, San Marcos, CA  92078  760-752-4480 direct

NMLS ID:  3035 - VanDyk Mortgage Corp   NMLS ID  220268  

Brian Skaar - Loan Originator / Branch Manager   

 

NY Disclosure:  Website authorization has not been approved by teh New York State Department of Financial Services.   Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. 

 

Fast Forward Approval - the Smartest Way to get Pre-Approved

 

 

 

 

 

 

 


 

 

Comment balloon 0 commentsBrian Skaar • May 30 2010 12:20PM
What is a VA Direct Lender?
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What is a VA Direct Lender? We just answered a similar question about FHA Direct Lenders in a previous post, so I thought this question also deserved an answer. Many clients and Realtors have an assumption that the VA (Veterans Administration)… more
What is a FHA Direct Lender?
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