VA Loan / Veteran Mortgage News

VA Certificate of Eligibility Update

The Department of Veterans Affairs continues to strive to protect Veteran information. According to the VA, Certificates of Eligibility will no longer display a veteran's date of birth effective immediately. The VA made the change to limit the amount of personal data being displayed on Certificates of Eligibility. You can get a complimentary form e-mailed or downloaded from our secure website. The veteran will still need to provide their date of birth when submitting an application for a determination of eligibility in order to process their request.

Source: Department of Veterans Affairs

Home Sales Picking Up

"Low interest rates and an $8,000 tax credit for first-time homebuyers helped push pending home sales up for the third month in a row," Business Week magazine recently reported. Experts say this is "another indication that the decline in the real estate market may be stabilizing," Business Week adds.

Low mortgage rates have pushed housing affordability to an all-time high, adds the National Association of Realtors. Sales are picking up in many communities as consumers respond to these advantageous buying conditions. Buyers who haven't owned their primary residence over the past three years also can take advantage of an $8,000 tax credit. But that tax break is set to expire at the end of November 2009, so it's important to start looking at homes now.

Military Hub is about helping you make the best military financial choices, build wealth and save money while you're in the military, and fully leverage your military salary to support your military family now, and yourself and your spouse after military retirement.

Economic Concerns Recede

Improvement in the real estate market is a key signal that the overall economy is picking up. "Average house prices for existing homes have remained stable" so far this year, says Joseph Carson, an economist at investment firm AllianceBernstein. Prices had been on a downward trend for the past three years, but average values have edged up in 2009, notes Carson. While we're not currently enjoying economic expansion, some experts believe conditions are stabilizing. A return to growth is forecast for the second half of 2009, adds Lawrence Yun, chief economist at the National Association of Realtors (NAR).

Real estate markets will gain strength once companies see their prospects improving and begin hiring, Yun explains. Households bringing in stable income soon start looking for a nicer place to live. Some positive signs are emerging, however. Average incomes in April were more than three percent higher than a year before, NAR reports. Americans also are finding ways to stretch their incomes. Three out of five American adults say they are searching for bargains by going to discount stores or using brands which cost less.

Long-term Gains

Buying a home is a big goal for most of us - and many owners have done well despite the recession. Last year 67.8 percent of all households lived in their own home. Actually that's a big increase from 1994, when only 64 percent of Americans were homeowners. By 2004 ownership had jumped to 69 percent of all households. Communities which have experienced high job losses, overbuilding of homes, or too many risky loans have suffered during our economic downturn. Yet the vast majority of owners still are enjoying the benefits of living in their own place every day. We're ready to help you - or someone you care about - make an important purchase now. Today's great mortgage rates and attractive home prices are creating an opportunity for more Americans to move up.

Stronger Market Ahead

Increased numbers of buyers are starting to reduce the supply of homes for sale, says the National Association of Realtors (NAR). But although home sales are stabilizing, a stronger job market is needed to help real estate fully recover. Fortunately, conditions are starting to move in the right direction for real estate. Families are discovering that low mortgage rates and attractive prices make it possible to purchase an affordable house now. New household formation and demolition of old homes produce a need for about 1.5 million housing units annually, NAR says. Yet builders currently are making just a small portion of that amount. Healthy demand eventually will reduce the number of properties on the market. House prices then will move up, since more buyers will be competing to purchase fewer homes.

Not Ready to Retire

A little more than half of working adults ages 50 to 64 say they may delay retiring until they reach age 66, notes a recent survey. Current retirees typically left work at age 62, adds the Pew Research Center. Women are more likely than men to consider working longer. Six out of ten women who are at least 50 years old and working full-time plan to put off retirement. Just 45 percent of 50-plus men anticipate staying on the job. One reason for a reluctance to retire is that two-thirds of adults ages 50-64 had investment losses over the past year. Both older and younger groups were less likely to experience a reduction in their retirement accounts.

The GI Bill Can Change Your Future.