VA Loan / Veteran Mortgage News

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SEPTEMBER 2006

Cash Back Bonuses For Veteran Home Buyers and Sellers

As America's Leader in military online lending, VALoans.com continues to offer our Cash Back Relocation Rewards Program. This program assists our clients in selling and / or buying their home. Whether you are buying, selling, PCSing, or simply relocating, the Relocation Rewards Program gives you the economic incentives and hassle-free levels of service that are unmatched in the industry. And the best part of all is that it's FREE.

This service provides veterans and active duty military with access to the top real estate professionals all over the country and offers the following:

• A dedicated real estate coordinator to help you buy smart, sell smart, and move smart.
  
  
• A welcome package available on request containing a buying smart checklist, interior / exterior checklist, and a moving day planner on exactly what needs to be done prior to moving.
  
  
• Free reports available on request on school and community information in desired areas and selected neighborhoods of your choice.
  
  
• Cash back bonus based on the sale of your home and the purchase of a new home utilizing our real estate services. (Up to $1,000 for the sale of your current home and up to an additional $1,000 for the purchase of a new home). * Cash back program is not available in all states.

In order to participate in this Cash Back Program, you will need to obtain a pre-approval from the VALoans.com Mortgage Center.

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Buy for the Right Reasons

Home prices are no longer advancing rapidly in the U.S. Slower sales in most communities are causing real estate values to go up at a slower pace than we've seen in recent years. And in some neighborhoods house prices actually are falling. But that's only bad news for speculators who recently bought in hopes of a quick, profitable sale. Fortunately, most Americans understand that buying property is a long-term commitment.

Purchasing a home, vacation property, or rental unit isn't something we should do without careful consideration. Buying real estate is a big step to take, since we must maintain our property and make our monthly mortgage payments. Yet we gain emotional and financial benefits the longer we hold onto our homes. Many of our best memories are of being with family and friends in a special place of our own.

Real estate has proven to be a stable investment for decades in this country. Fast appreciation over the past few years was due to a combination of low rates and high demand for homes. But now the market is resuming a more-normal growth rate. Today's situation is comfortable for homeowners who see real estate as a lifestyle decision. A high rate of homeownership is one thing that makes America stand out from other countries. About 70 percent of us live in our homes, while just 42 percent of German households are homeowners.

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New Approaches to Retirement

Homeowners used to look forward to paying off their mortgage, and would even hold family celebrations when that day arrived. Not having mortgage payments makes it easier to retire and live on less income. But that traditional approach is changing, experts say. Several trends are causing a growing number of older Americans to have a home loan.

• Many owners refinanced as rates fell in recent years. Although that lowers their monthly costs, it also restarts the payment process.
  
  
• Buying a house has become easier with mortgages that allow interest-only payments for years. But that means some owners aren't reducing their principal balance.
  
  
• Rapid increases in home values have encouraged owners to use low-rate, tax-deductible mortgage loans to remove equity from their homes. While obtaining funds on good terms now, these borrowers also are increasing what they owe.
  
  
• Mature Americans have eagerly acquired vacation and rental properties. Although they enjoy these units, owning more real estate increases their monthly payments.

Low rates have allowed households to take on more debt and still make their payments. But each family must decide for themselves how much of a mortgage they want to carry as they near retirement. Owners also can move to a home which costs less than their current house. Up to $500,000 in sale profits then can be earned without paying any tax.

Today you can better manage your mortgage as part of your complete financial profile. It's best to make housing decisions within an overall program for achieving life objectives. We can show you how different approaches to paying off your home loan will affect your finances in the future. You can keep your budget under control now, and still plan for a great retirement.

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Learn About Your Home

House inspectors play an important role in the buying process. Making sure a property is in sound condition is crucial before signing a contract to purchase it. Having your home inspected after you've lived there awhile also can be beneficial. Qualified inspectors are professionals who will give you an objective opinion concerning maintenance and repairs.

Inspectors can estimate how long your furnace will last. An inspector also can help you decide if it's worthwhile to patch your older roof, or if now is the time to replace it. Some firms perform inspections that focus on specific issues, such as improving your home's energy efficiency. One technique for doing that is to fill a house with pressurized air, and then discover where the leaks are. Utility companies generally can refer a qualified organization to perform a home energy audit. And then be sure to contact us to learn how you can obtain funds to make important home repairs!

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How Much Should You Spend?

Every house is different - and each one's attractiveness to buyers depends on numerous factors. Local labor market conditions set the stage for area home prices. When jobs are plentiful, it becomes easier for households to earn enough to purchase a home. Most folks also won't hesitate to buy if they feel their employment is secure.

Individual houses differ in their appeal for a number of reasons. Which school district they're in, the floor layout, and how close they are to mass transit lines all can be factors that add up to a home's current value. Buyers are more cautious about overpaying today, since home price appreciation has slowed. Fortunately, more homes are on the market now, so you can take your time and compare properties.

Choose a home that suits you, and then determine a fair price for it. Make sure you look at recent sale prices of similar properties before making an offer to purchase. We'll go over your budget with you, and show you how different loans would fit into your finances. Together we can make sure your payments are affordable.

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