 |
VA Loan / Veteran Mortgage News
SPONSOR:
Pioneer Military Loans offers responsible military lending solutions that can help
service members avoid or break the debt cycle. Pioneer serves active-duty and career-retired military service members,
as well as Department of Defense employees.
SEPTEMBER 2003
Healthy Economy Encourages Buyers
America's strengthening economy caused mortgage rates to move up over the summer. Although
higher rates increase borrowing costs, faster growth means unemployment should fall.
Incomes will rise as jobs become more plentiful. Higher incomes mean that today's fixed-rate
mortgage payments will seem smaller in the future.
In five years you may be earning 15 percent more. But your mortgage payment will stay the same,
making it more affordable than it is now. Real estate values also will keep going up;
so today's a great time for renters to make that important first home purchase. Buying
a house allows you to build wealth, and also to keep moving up as your housing needs change.
The GI Bill Can Change Your Future.
We have partnered with the following schools and service providers. Visit their content centers and
fill out an instant inquiry to receive more information!
DeVry University
DeVry University offers flexible scheduling and the convenience to study at any of 80+ locations, online or a combination of both. Earn a respected associate degree, bachelor’s degree or master’s degree from an accredited university.
Westwood College Online
Westwood College’s online program offers you the flexibility you need to earn your degree when and where it’s most convenient. Degree programs include business, criminal justice, design and technology.
Colorado Technical University Online
At Colorado Tech Online, you can earn a career-relevant degree in just 15 months. Every CTU Online degree includes multiple Professional Certificates without additional courses or cost. Learn more today.
Capella University
As an accredited university with online degree programs in five schools, Capella University is committed to helping you accomplish your goals through a high-caliber educational experience.
Strayer University Online
Strayer University Online offers degree programs designed to fit your busy schedule. Attend real-time courses via the Internet, or complete coursework at times most convenient to you.
Walden University
Balance your personal and professional commitments while earning a respected Ph.D., master’s degree, or bachelor’s degree online at Walden University. Programs offered in management, education, psychology and health and human services.
American Military University
American Military University’s online programs can prepare you to succeed in a civilian or military career. Choose from more than 50 Associate, Bachelor’s and Master’s degree programs.
Kaplan University
Advance your career and get the distinct competitive advantage you need with an online degree from Kaplan University. And do it without missing a day of work.
University of Phoenix
As a regionally accredited university, and a long-time member of Service members Opportunity Colleges (SOC), University of Phoenix is approved by all branches of the military for tuition assistance and is approved for veterans training.
South University
South University enjoys a long-standing tradition of excellence in education and personalized student attention. Enjoy the convenience of earning your bachelor’s degree entirely online.
AIU Online
Earn your Associate’s, Bachelor's completion—even an MBA—from the comfort of home at AIU Online. Choose from career-track programs such as Visual Communication, Information Technology and more.
The Art Institute of Pittsburgh -- Online Division
Whether you’re just starting out or are a seasoned professional, you can jump-start your career with an associate's or bachelor's degree from The Art Institute of Pittsburgh -- Online Division.
Everest University Online
Expand your career horizons with an online degree from Everest University Online. Balance work and family while you study for your Associate’s, Bachelor’s, or Master’s degree.
Virginia College Online
Earn your associate's, bachelor’s or master’s degree from Virginia College Online. Our extensive programs are offered 100% online, so you can launch the career of your choice from the comfort of your own home.
Grand Canyon University
Grand Canyon University is currently offering programs through our Online Campus in our College of Education, Ken Blanchard College of Business, College of Nursing, and College of Humanities and Social Sciences.
Grantham University
Looking to advance your career or enhance your professional skills? Earn your degree online at Grantham University. Programs include Business Administration, Criminal Justice, Computer Science and more.
Jones International University
Earn a high quality degree in Business, IT, Education, or Communications. Jones International University® offers self-paced bachelor’s and master’s degrees tailored to your needs.
Ellis College
Take your career to the next level. Ellis College offers customized, flexible online degree programs for busy working professionals like you.
Baker College Online
Pay less than half the tuition at Baker College Online, a fully-accredited and highly-respected online school. Click to learn more about the over 30 programs.
Tax Breaks for College Funds
Persons with their own businesses or who own investment real estate can have their children
work for them, and put those funds in custodial accounts for education expenses. Your children may
need to file income tax returns, but their earnings will be taxed at a low rate. Someone
with a taxable income of up to $7,000 is in just a ten percent tax bracket now.
No withholding for Social Security or Medicare taxes is necessary when children under 18 work
in a family business. Paying them wages provides the parents with business tax deductions, while
keeping funds within the family. Additionally, it isn't a bad idea to have your youngsters
working to fill up their college fund. Tax advantages that make those savings go further are
an extra benefit. Consult with a tax advisor to see how these concepts would work in your
situation.
VA Allowable Fees When Buying a Home
Purchasing a Home utilizing the Department of Veterans Affairs Guaranteed home loan program is
usually one of the largest purchases in a Veteran's lifetime. The veteran can pay a maximum of
all reasonable and customary amounts for any and all of the "Itemized Fees and Charges"
designated by VA as defined below plus a 1% flat charge by the lender plus
reasonable discount points.
These include appraisal and compliance inspections, recording fees, credit report, hazard insurance,
flood zone determination, survey, title examination, title insurance, prepaid items,
and the VA funding fee.
Additional fees attributable to local variances may be charged to the veteran only if
specifically authorized by VA. The lender may request VA to approve such a fee if it is,
- normally paid by the borrower in a particular jurisdiction, and
- considered reasonable and customary in the jurisdiction
The following list provides examples of items that cannot be charged to the veteran as
itemized fees and charges:
Loan closing or settlement fees, document preparation fees, preparing loan papers or conveyance fees,
attorneys services other than for title work, photographs, interest rate lock - in fees,
postage and other mailing charges, stationery, telephone calls and other overhead,
amortization schedules, pass books, and membership or entrance fees, escrow fees or
charges, notary fees, preparation and assignment of mortgage to other secondary market
purchasers, trustee's fees or charges, loan application or processing fees, fees for
preparation of truth-in-lending disclosure statement, fees charges by loan brokers,
finders or other third parties, and tax service fees.
These facts can be found in the VA Lenders Handbook, Chapter 8 - Borrower Fees and
Charges and the VA Funding Fee.
Smart Buying Strategy
Home buyers who are touring open houses and looking at real estate websites generally are
hoping to find a house that's just right for them. But the chances are they'll purchase
one that isn't completely perfect.
Fortunately, you can buy a house with a loan that provides the funds for renovating it.
You'll add to the home's value whether you simply add a coat of paint - or put in air
conditioning and new siding.
In fact, you're most likely to find a bargain by purchasing an
older home and treating it like a diamond in the rough. Obtain a professional home
inspection before buying, and go over it thoroughly to insure your new house doesn't
have problems you're not aware of.
And contact us first to learn how we can finance your special project. You'll find
we get excited about helping folks create the home they're dreaming of!
Go for Your Goals
Most economists expect rates to stay around today's levels, so homes will remain affordable in
coming months. But it's best to focus on your goals now, rather than trying to guess whether
rates will trend up or down over the near term.
Move ahead confidently with a transaction if your monthly payments fit into your budget.
Achieving your objective - whether that's to buy a home, or to take funds out of your
equity - is what's most important now. Many loan programs are available to help folks in different
financial situations. Finding the right mortgage for you is more important than searching for
the absolute lowest rate. And that means you need to work with someone who will listen to you,
answer your questions, and then offer a variety of positive solutions. Talk with us soon to
find out how we can fashion a mortgage to suit your household's needs!
|
 |
|
|
|
 
|
Get Started with a
VA Home Loan
|
Copyright © 1997- 2008
VALoans.com
All Rights Reserved
Web Design
Archimage
Houston, Texas
|
