VA Loan / Veteran Mortgage News
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AUGUST 2007
We Never Stopped Funding VA Home Loans
$3 Billion Closed and Counting
By now, everyone has heard of the current crisis going on in the mortgage banking arena. Many sub-prime programs have
been halted and the criteria for many mortgage loan products changes daily. Fortunately for veterans, the VA home loan
program is going strong and has not been effected at all. In the past 64 years since the start of the GI Bill,
the VA home loan program is still as popular as ever.
The VA Loan has stood the test of time for the following reasons:
- The loan requires no downpayment. The VA limits the amount of origination fees and closing costs that can be charged.
- The loan is available to most veterans, active duty service members, reservists and members of the public health service.
- There is no PMI or private mortgage insurance.
At
VALoans.com, we are here to assist you every step of the way with your VA
home purchase. While many veterans go to their local banks, savings & loans or credit unions to obtain their VA
loan, these companies usually are not equipped with full time VA underwriters and appraisers on staff ready to
assist you like we can. We strive to give each and every veteran customer the personalized service that they deserve.
It is for that reason that we aim to be the largest VA lender in the country and ask that you give us a try.
Over the past several years, VALoans.com and its affiliates have funded over $3 billion in VA guaranteed loans.
VALoans.com is one of a select group of lenders with VA Automatic Status from the Department of Veterans Affairs.
This is a privilege, 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 our Automatic Status, we offer VA mortgage banking services, for veterans and active duty military personnel nationwide.
It also means they we 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 loan.
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Market Brightens for Buyers
Turmoil in the financial markets is providing help for home buyers. Mortgage rates in recent weeks have been moving
lower in response to economic conditions. Risky investments are falling out of favor, so more money is flowing
into the safety of U.S. Treasury bonds. Greater demand for bonds makes their price rise - and that in turn
causes their yields to fall.
Long-term mortgage rates are determined by Treasury bond yields. Many economists forecast that rates will
go up in the future. So today remains a great time to look for a property you'll love for years. Additionally,
buyers who need to sell quickly are motivated to offer outstanding deals today. I'll make sure your house payments
fit into your budget both now, and in years to come. Talking with me before you shop for a new home will give
you the confidence to move ahead with an affordable purchase.
Current market conditions offer opportunity to savvy consumers who recognize the underlying value of real
estate. For decades owning a home has been a wise decision for American families. Builders are limiting the number
of new houses for sale, and that is bringing the market back into balance. Over the summer the inventory of sale
homes dropped and prices moved higher, adds the National Association of Realtors. If you know someone who
would benefit from purchasing a house, suggest they contact me soon. My experience will help make this
important step possible for them.
Discover Your Neighborhood
Finding the right home is more than just locating one with the square footage and number of bedrooms you have in mind.
Every buyer has a personal list of what's important in a community. One person will be looking for a park nearby,
while another is more interested in shopping. Living in a community where you'll thrive requires doing some research
as well as looking at houses.
Parents have always found the school district they'll be living in is an important consideration. See if the
strengths of particular schools are a good match with your children's interests. Attending a high school
with great teams isn't crucial if your youngster is more concerned about the quality of its computers.
Additionally, parents will want to make sure good daycare facilities and after-school programs are available.
School test scores and area crime statistics often are available on the Internet. You also can check with county
officials to see how planned development will affect your neighborhood in the future. Find out how long your
commute will take by driving that route at the time you'd normally be going to and from work. Walking through
a neighborhood at various times of day also can give you a lot of helpful information.
You'll see how much pride people take in their properties by observing the condition of their homes and
landscaping. Additionally, you can assess how quiet a neighborhood is by visiting it on different occasions.
Talking with local residents also can yield useful insights about living there.
One advantage of today's real estate marketplace is that plenty of properties are on sale in most
areas, so you don't need to rush into a purchase. Taking the time to research all the local elements
that are important to you will insure you make a smart choice.
You'll also want to be sure that your monthly payments are affordable as long as you're in your house.
Contact me before you start looking at homes, and I'll show you how different mortgages would work
in your specific situation.
It's Time to Save
Now is a great time to plan energy-saving home improvements. You'll be sure to save money on heating bills
this winter as a result. Making these renovations in 2007 also can provide you with tax savings. Homeowners
can reduce their income taxes by up to $500 by making energy-efficient improvements before year-end.
Insulation, windows and exterior doors, heat pumps, air conditioning units, and water heaters can qualify for
the credit. Additional tax savings are available for homeowners who add solar, photovoltaic, and fuel cell devices.
Consult your tax advisor for full details. And call me if you need money to make these or any other important
home improvements.
I'll show you how a home equity loan can fund a smart, and environmentally-friendly, upgrade. Your
renovation will add to your home's value, and save on energy costs as long as you live there!
The GI Bill Can Change Your Future.
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