VanDyk Mortgage Corporation - Home Mortgage

VanDyk Mortgage Corporation

859 Robinwood Ct. - P.O. Box 3050
Traverse City, MI 49685-3050
Local: 231-941-1776
Toll Free: 866-931-8500
Fax: 231-941-8088

At VanDyk Mortgage, we are dedicated to superior customer service and we handle the entire process with YOU in mind. With our knowledgeable Reverse Mortgage Advisors and our unique application process, we make it easy for you to get what you need, quickly and without hassle. VanDyk Morgtage isn't just a mortgage company that happens to do Reverse Mortgages from time to time. We specialize in just Reverse Mortgages for seniors in our area. Because of that specialization we are up to date on all the current rules and regulations required by State and Federal agencies. Because we work exclusivly with seniors, we understand their often unique and varied needs and treat you with the respect and courtesy that you deserve. Our total committment is to you.

Reverse Mortgage Features

* You and your spouse must be 62 years or older.
* You must own a single family home or a condo. A multi-family dwelling is
acceptable as long as you reside in the dwelling yourself.
* You can qualify even if you don't have an existing income.
* Any outstanding mortgage on your home is paid off as part of the program.
* No payments are required while you reside in your home
* No credit history applies as long as there are no current government liens
against your home.
* You may, however, be responsible for appraisal and inspection fees.

Application Process

At VanDyk Mortgage, We Make It Easy! The process of obtaining a Reverse Mortgage can be long and tedious, if you are not careful. We can streamline this process by assigning you a Reverse Mortgage Advisor and Reverse Mortgage Processor. Your Advisor and Processor will be your contact points throughout the process to answer any questions and address any concerns. You will be updated regularly throughout the process to let you know your status. We will not keep anything from you, the entire process will be outlined, and you will always be informed of where we are.

Here's the Quick and Easy Process

1. Contact - VanDyk Mortgage at 866-931-8500 or by email.

2. Review and Determination - We discuss the Reverse Mortgage and determine if it is appropriate for you and your situation. If you desire, we also will send out additional literature on Reverse Mortgages. We will then set up an appointment so one of our Reverse Mortgage Advisors can visit with you and your family, and please feel free to invite the rest of your family to sit in on our presentation. We think everyone should be fully informed.

3. Application - During the initial meeting, we will explain all the features, costs, payment options and thoroughly answer all questions. Only when you are satisfied will we begin the application process.

4. Counseling - We set up an appointment so you can talk to an independent, certified HUD counselor, which is a requirement of the FHA and it provides additional peace of mind. This is paid for my HUD.

5. Appraisal/Inspection - We set up the appraisal and other required inspections and notify you of the dates and times to expect them.

6. Approval - We submit the loan package directly to an FHA underwriter for approval. We track the entire loan package through the system and inform you of the status. You can also call your Advisor anytime to obtain the status.

7. Closing - You will receive your funds within four business days after closing, per Federal guidelines requiring a three-day waiting period..

8. Funding - At closing of the loan, you receive the funds.

Our goal is to ensure you are well informed but don't need to worry about the details. Your Advisor and Processor will take care of that from start to finish.

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