VA Loan / Veteran Mortgage News
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service members avoid or break the debt cycle.
Military Hub is about building wealth and saving money. It's about helping you make the best military financial choices for your future.
JUNE 2005
Veteran Home Loans Guaranteed for 2004 Hits 335,800
According to the Department of Veterans Affairs Annual Performance and Accountability Report for Fiscal Year 2004, the
VA guaranteed 335,800 loans for veterans in attaining home ownership or refinancing their loans.
So where do active duty and veteran military purchase or refinance their homes? They go to
www.valoans.com.
VALoans.com is one of a select group of lenders with "VA Automatic Status" from the Department of Veterans Affairs.
This privilege is granted at the discretion of the VA, for companies with the most qualified, experienced
underwriters who have consistently performed exceptionally under stringent quality control reviews. With this,
we can offer VA mortgage banking services for veterans and active duty military personnel nationwide and can
close mortgage loans in our own name as mortgage bankers. We manage loan processing, documentation, underwriting,
appraisals and funding activities in-house allowing for faster, easier mortgage transactions, saving customers
weeks of time in getting their loans.
Certificate of Eligibility and DD-214
We assist our customers in obtaining the necessary VA Home mortgage related forms including
Form 26-1880 (Request For Certificate of Eligibility) and
Form SF 180 (Request Pertaining to Military Records: DD-214).
At VALoans.com, we are VA mortgage experts, at your service.
General Veteran Population, States of Residence, Age of Veterans and Female Veterans
Based on VA's annual report, there were about 24.6 million veterans living in the United States and the Commonwealth of Puerto Rico: over 18 million of these Veterans served during at least one wartime period. The veteran population decreased by 1.9 million in 2004. There are approximately 38 million family members of living veterans and survivors of deceased veterans.
Veterans in just three states - California, Florida, and Texas - comprised over 23 percent of the veterans living in the United States and Puerto Rico as of September 2004. The three next largest states in terms of Veteran population are New York, Pennsylvania, and Ohio.
At the other end of the scale, the three least populous states in terms of veteran population - Wyoming, North Dakota, and Vermont - plus the District of Columbia collectively accounted for less than 1 percent of the total.
As of September 2004, the median age of all living veterans was 59 years. The number of veterans 85 years of age and older totaled nearly 864,000.
As of September 2004, the 1.69 million women veterans constituted 6.9 percent of all veterans living in the United States, Puerto Rico, and overseas. The female veteran population as a percentage of all veterans is expected to increase as the number of former military service women continues to grow.
Source: Department of Veterans Affairs FY 2004 Performance and Accountability Report
Home Sales Keep Soaring
Low mortgage rates and strong demand for housing pushed sales to record levels this spring. Home prices on average also went up more than 15 percent during the previous twelve months.
It was the largest advance in property values in almost 25 years, says the National Association of Realtors (NAR). Some forecasters believe 2005 could produce the fifth year in a row of home sale records.
STRONG BASE
Today's real estate boom has a solid and lasting foundation. Demand for homes has grown as more borrowers can obtain
low rates, and the cost of securing financing has fallen. In the recent past buyers needed a large down payment and
excellent credit to purchase. Now many homeowners put three percent or less down, even if their credit isn't perfect.
Tax law changes also allow owners to buy and sell more frequently without paying tax on their profits. And deductibility
rules encourage owners to take cash out of their home equity when they need to borrow money. America's strong housing market
is based on more than simply low rates. However, it's probably true that buyers in some areas have become over-enthusiastic.
If the local economy turned down at the same time interest rates were rising, those areas could see house prices stagnate or
even fall. Fortunately, most places in the country are experiencing more-moderate increases in home values.
It's Home Buying Season!
Many home buyers find that adjustable-rate mortgages (ARMs) give them the ability to make a purchase now.
Yet it's important to match an adjustable loan to your situation. We'll explain the VA ARM's and help you
choose the program that will work to your advantage over time.
You also have the flexibility of changing your financing in the future to meet tomorrow's needs. You may want to
refinance into a fixed-rate loan at some point, in order to have stable payments. Our job is to provide you with
options, help you make an informed choice, and handle the details as we go through the mortgage process. Contact
us soon and we look forward to working with you.
BUYING TIPS
It's helpful to remember that buying a house is a long-term commitment. Purchasing in the hopes of a quick profit is
a riskier strategy. If prices don't go up quickly, you may need to hold on to the property longer than you
planned to. Tapping into your home equity for cash also should be done not just because it's easy, but
because you have a good use for the funds.
We'll put together financing that will suit your specific needs, and fit into your budget. You can rely
on us to help you find today's real estate opportunities, so you can realize your housing dreams.
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!
At AIU, our students can benefit from our experienced instructors, our blended campus and online learning option, our dedicated Career Services staff, and financial aid available for those who qualify.
More information: American InterContinental University
Welcome to Colorado Technical University Online, where you can earn a career-relevant Associate's, Bachelor's, or Master's degree in a convenient online format that fits your life. Come see how CTU Online can help you each your academic and career goals!
More information: Colorado Technical University
The Art Institutes
People who can innovate are in demand as never before—because the world needs new ideas like never before. To take your place in this new world of possibilities you should start with the kind of focused education you'll find at an Art Institutes school.
Grand Canyon University
Grand Canyon University offers online and campus-based bachelor's and master's degree programs through the Ken Blanchard College of Business, College of Education, College of Nursing and Health Sciences, and College of Liberal Arts.
Kaplan University
Kaplan University is an institution of higher education where you will find online courses that allow you to study anytime, anywhere with an Internet connection - 24/7. Kaplan University offers online bachelor's, master's, and associate's degrees, and certificate programs in some of today's most in-demand fields.
Strayer University
At Strayer University, we proudly welcome active duty military students, veterans, and their families. Established in 1892, Strayer University offers students a quality education that's flexible so you can balance your educational goals with the demands of your military service.
