Hiring by U.S. companies is showing the healthy growth we've been waiting for. Total employment nationally now is higher than before the last recession.


National Averages for September 15, 2014


3.95% Rate
3.96% APR


2.875% Rate
3.0% APR
* disclosures

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- Veteran Documents -

Certificate of Eligibility
and DD-214


VA Mortgage News for Veterans

August 2014

Bruce Reichstein is an Expert on (VA) Military/Veteran Home Loan Guidelines for over 26 years — www.VALoans.com. He is an experienced VA Loan Mortgage Banker who is passionate about assisting US Military Veterans utilize their Veteran Eligibility to purchase a home.

New American Homeowners

Today, young Americans are poised to purchase starter homes. New households are being formed daily and we generally prefer living in our own place instead of renting. But young people aren't the only force driving housing demand. More than one-third of the growth in homeownership this decade will come from immigrants, according to recent forecasts. That's a big jump from the past, due to a couple of factors.

First, immigration picked up starting in the 1980's. Over time those new households have gained a secure financial status, and can afford their own residence. Most immigrants see homeownership as an important part of their American experience. Recent immigrants typically say that owning property is more important to them than people who were born in the U.S. do. Housing demand from immigrants has played a crucial role in supporting real estate markets in recent years.

Immigrants are realizing the American Dream and we can expect that trend to continue as we move forward. America's real estate marketplace is vital and resilient. We've been responding to challenging situations for generations. We're here to help all households buy the home they want. Contact us when you're thinking about the benefits of real estate, and we'll help you navigate the road to ownership.

Boost Your Retirement Income

Many Americans are concerned about how they'll get by in retirement. One of the best financial moves you can make is to use a 15-year mortgage to pay off your home before you stop working. A 15-year loan can help you live debt-free. Not having monthly housing payments makes retirement a lot simpler. It's easier to stop working when you want to if you don't have to plan for monthly mortgage payments.

You'll probably feel less stress once you own your home free and clear. Moving into a 15-year loan is an ideal way to reach that financial objective. Often owners purchase with a traditional 30-year mortgage, and then refinance into a 15-year loan after a few years. If you plan on staying in your current house and can afford the payments, you'll gain unique advantages with a shorter-term loan. The benefits of paying off your mortgage are so strong that it's worth exploring how you can make this happen. Your payments will rise with a shorter-term loan, but you may discover that's not a huge burden.

Setting priorities and sticking to them is key to effective financial budgeting. If the goal of retiring debt-free is crucial to you, there's a good chance you can find ways to cut other expenses to achieve that objective. Don't forget that today's spending habits will affect our retirement lifestyle.

Recent Posts in the VA News Blog

Home Sales Hit Fastest Pace this Year

Monthly home sales recently hit their fastest pace since last October, says the National Association of Realtors. Increasing numbers of sellers also are providing buyers with more purchase options to select from. Real estate markets are advancing at a steady clip – and improving economic conditions explain much of this healthy development. Job growth in 2014 has been the strongest we've experienced so far this century.

Many economists forecast that wages will pick up as companies find it difficult to hire or retain the workers they need unless paychecks are boosted. The rate of U.S. unemployment is forecast by the National Association of Realtors to fall to 5.9 percent next year. That will be a significant drop from the 8.1 percent jobless rate we endured in 2012. Producing more jobs in turn creates increased levels of consumer spending. And that activity encourages companies to keep expanding.

Higher Credit Scores are Coming

Raising your credit score is a proven way to obtain a home loan on better terms. Credit scores reflect how you've managed debt in the past, and are one tool lenders use when granting a mortgage. Coming changes to how credit scores are tallied will positively affect tens of millions of Americans, according to recent reports. FICO scores, which are the industry standard, are altering their formula in the following ways:

  1. If a debt goes to collection and is then paid off, that will no longer hurt someone's credit score.
  2. Medical debts in collection won't be counted as heavily in the scoring process.
  3. New methods will be employed to estimate the creditworthiness of people who don't have a long history of borrowing.

What these new practices are doing is responding to real-world situations. Households may not be aware that a medical bill hasn't been paid by their insurance company. Or a consumer debt may go to collections because its amount is disputed. Yet those common occurrences previously have damaged credit scores.

FICO plans to start using the new score formula this fall. If you've been turned down for a loan because of credit concerns, you may have improved results in the future due to these changes. We stay on top of industry developments so you can obtain financing on good terms. You can rely on us to help you maximize your ability to get an affordable home loan.

Buying Smart

Recent mortgage rates have hovered around their lows for the year, reports Freddie Mac. So far better economic news isn't causing borrowing costs to spike higher. Inflation concerns have most forecasters predicting upward movements in home loan rates in the future. America's Federal Reserve Bank has kept rates low to assist our recovery from the last recession. But as economic expansion takes hold, the Fed is expected to allow borrowing costs to rise. Buying property soon gives you the double benefits of looking in low rates and purchasing at an attractive price.

Home prices typically mirror inflation's upward arc. Falling values in recent years were preceded by an abnormally-steep climb in the cost of residences. But after bottoming in 2012, house prices are moving up steadily again. Today's buyers can expect to pay more the longer they wait to move. One benefit for homeowners is that inflation doesn't have to gather major strength before home values are affected. Low or moderate inflation rates also should coincide with increasing property values.

There's still plenty of room for the housing sector to keep growing. Young households are eager to buy a first home, and new construction remains well below historic levels. Today's good home values will look like great bargains in the future. We'll show you what payments to expect, so you can shop for a new home that you'll love.

Big Benefits

Keeping track of how we spend money often reveals we have spending habits which don't really contribute to our long-term happiness and financial independence. However, budgeting carefully so you can pay off your home loan early will pay dividends. Now is a great time to consider moving into a 15-year loan. Mortgage rates are expected to rise in the future - and 15-year loans actually have lower rates than 30-year mortgages do. Ask us to show you how a 15-year mortgage would work in your situation. We'll answer your questions, and show you how the benefits add up over time.