VA Loan / Veteran Mortgage News
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January 2009
Special Extra Earnings for Military Service
Under certain circumstances, special extra earnings for your military service from 1940 through 2001 can be credited to
your record for Social Security purposes. These extra earnings may help you qualify for Social Security or increase the
amount of your Social Security benefit.
Special extra earnings are granted for periods of active duty or active duty for training. Special extra earnings are
not granted for inactive duty training.
Note: Social Security cannot add these extra earnings to your record until you file for Social Security benefits.
Click here for more details.
Affordable Payments
Homeowners with adjustable-rate mortgages currently are discovering the benefits of refinancing into stable, fixed-rate payments.
Adjustable-rate loans provide lower payments initially - but they also tend to rise over time.
Low mortgage rates and reduced property prices in many areas are encouraging Americans to buy real estate today. In the
second half of 2006, rates on 30-year home loans fell more than half a percentage point.
That results in monthly savings of over $100 on a $250,000 mortgage. When combined with today's attractive home prices,
it cuts the cost of homeownership. Average house prices will go up modestly in 2007, adds the National Association of
Realtors. Now is a great time to look into making a purchase you'll benefit from for years.
Contact us at before you start looking at homes. We'll show you what monthly payments you can expect, and pre-approve you for
home financing.
Franchise Opportunities for Veterans
Owning a franchise operation is now more affordable for veterans, thanks to a program initiated by the former Secretary of
Veterans Affairs Anthony J. Principi.
The Veterans Transition Franchise Initiative, commonly known as "VetFran," allows veterans to acquire a franchise
with a down payment of 10 percent or less of the initial franchise cost, which generally ranges from $45,000 to
$150,000 for a small business. Franchising companies absorb the difference.
"Veterans are self-starters who possess an excellent work ethic. They are leaders who know how to manage others,"
Principi said. "The VetFran program provides veterans who want to be in business for themselves a wonderful opportunity to
get their feet in the door."
Click here for more information.
Take Advantage of Today's Opportunities
Many homeowners with adjustable-rate mortgages are finding they can save money immediately by refinancing into a fixed-rate loan.
That's because adjustable rates have risen over the past three years much more than fixed rates have.
Additionally, it's common for adjustable-rate borrowers to receive low "teaser rates" when they first start making
payments. But today those loans are adjusting sharply higher - and monthly payments are rising steeply as a result.
If your loan is scheduled to adjust soon, you could find yourself paying more each month than you would with a fixed loan.
But you don't have to accept higher housing costs today.
Borrowers who previously were charged higher rates due to credit issues also may find their payment history qualifies them
for today's best rates. We'll work with you to make sure your credit rating puts you in the best possible light.
We look forward to explaining how you can save money by changing your home financing to take advantage of today's opportunities.
Together we can go over how your current payments will change, and look at the difference a new loan would make.
Our job is to show you positive options that will allow you to maximize the benefits of homeownership. Call us right
away to learn how much you can save now.
Cut Credit Card Fees
Most credit card users are aware it's important to find a card with a low interest rate. Yet fees are a fast-growing part of
credit card costs. Last year banks collected more than $17 billion in credit card fees, says bank advisory firm
R.K. Hammer. Most of those are late fees, which many card users find hard to avoid.
In 2006 one-third of all card accounts were charged late fees, says a government report. Late fees also have gotten larger,
and now average close to $34. Fees often are charged because card issuers expect to be paid quickly. Many card owners
no longer have 30 days to pay their bill.
Paying a bill late may cause a credit card company to suspend the low interest rate they originally offered. Even
cardholders who pay on time may see their low fixed rates being replaced with rising adjustable rates, since card
issuers can change those terms simply by giving 15 days' notice. Consumers who exceed their credit limit also can expect
to be hit with fees. Additionally, some banks study your credit history and boost your rate if you add to your overall
debt or pay another bill late.
Yet it's possible to pay off annoying credit cards with a home equity loan. You'll lower your monthly payment, while enjoying tax deductions on your interest cost.
Let us show you how you can handle your bills with less stress now. Contact us soon to review today's positive borrowing opportunities.
Our Positive Future
America's economic prospects are brightening, and many experts are spending less time worrying now. Warm winter weather has
kept energy prices from going higher, giving consumers adequate funds to purchase other goods. Average wage increases for
most workers are beating inflation, which also keeps spending upbeat. "The buying power of American workers is now rising
at the fastest rate since the economic boom of the late 1990s," states The New York Times.
A weaker dollar is helping firms to boost their exports, and that has some companies hiring workers. More jobs and
higher wages are combining to help consumers meet their bills, economists say.
Lives of Luxury
Surveys reveal a growing list of items which Americans simply "can't live without," says a recent report from the Pew Research Center.
It's not surprising that similar surveys in 1996 and 2006 showed that around 90 percent of us believe that owning a car
is a necessity. But high-speed Internet access - which wasn't available a decade ago - now is cited as a must-have by almost
30 percent of Americans. About half of us also couldn't live without our cell phones or computers, the survey reveals.
Many of our most-popular belongings are related to our homes. More than two-thirds of Americans wouldn't want to face a day
without a microwave oven. That item's popularity has more than doubled over the past ten years. Fixing meals in microwave
ovens is fast, and can make cleanup easier. Perhaps that's why just 35 percent of us see a dishwasher as being an essential item.
Men are a little more likely to view a dishwasher as being indispensable, while "women are slightly more inclined than
men to see car air conditioning as a necessity," notes the Pew Center.
Having your own place allows you to perfect it for your household. Often this requires upgrading and renovating
areas of your home. Let us know when you're ready to enhance your house. We'll go over financing tools that can help you
move ahead with your project right away.
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.
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The Art Institutes
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Grand Canyon University
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Kaplan University
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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.
