VA Loan / Veteran Mortgage News
(NMLS #273132) is Sr. Loan Officer specializing in VA Home Loans with Emery Federal Credit Union and VALoans.com. Bruce has originated and underwritten VA loans in all 50 states for over 25 years and is a Nationwide Lender.
VALoans.com Publishes Downloadable Guide
VALoans.com is pleased to announce that we have created a downloadable Easy Reference Guide
offering vital information for using your VA benefits to buy a home. This is an excellent starting point for any veteran who has questions concerning the VA home loan process. With the vast amount of visitors our site receives, we wanted a simple guide on the ins and outs of VA lending. VALoans.com has become one of the larger VA online mortgage originators in the country and has funded over 3 billion dollars in VA guaranteed loans. Known for its world-class customer service, we offer complete VA mortgage banking services with in-house underwriting, processing, approval and closings. VALoans.com is one of a select group of lenders that were granted VA Automatic status from the Department of Veterans Affairs.
Lock in Low Payments
A window of opportunity may be closing for homeowners looking to reduce their monthly payments. Higher prices on many goods
and services suggest inflation may be increasing in the U.S., economists say. Interest rates may increase in the future
in response to those conditions. Bond investors demand higher rates when they believe inflation is rising, since that
reduces the value of interest payments from bonds.
Rates still remain attractive, and as summer approached they were below levels from twelve months ago. But no one can be
certain how long today's favorable conditions will be available. Many homeowners now are eager to lock in the benefits of
fixed-rate mortgage payments. If you plan on staying in your home for several years, this may be your best chance to obtain
affordable payments which won't change while you live there.
Especially if you have a home loan with adjustable payments which could rise soon, it's in your interest to consider
your current options. Even if you anticipate moving in a few years, you may be able to reduce your costs with a new
adjustable-rate loan now. Some borrowers are discovering their adjustable index is particularly volatile in today's
environment, and would prefer another alternative.
We'll show you how different home loans would fit into your budget now, so that you can make an informed choice.
Affordable payments allow you to enjoy your home a little more each day. Call us soon to learn more about today's
Today's Positive Opportunities
Recent changes in the mortgage marketplace could "make it easier for people to buy a home with a down payment of five percent, or even less," reports The New York Times. Government-chartered mortgage purchasers Fannie Mae and Freddie Mac "are loosening restrictions on the sorts of loans they'll buy in many markets," explains The Times.
Higher loan limits also are allowing more buyers to obtain fixed-rate home loans. Today's attractive real estate prices are making it easier to purchase, as well. National Association of Realtors Chief Economist Lawrence Yun forecasts an economic slowdown this year, but believes a full-blown recession won't occur. He expects home sales to grow in the second half of this year due to increased affordability, greater availability of home loans, and improved economic growth.
Yun also predicts that in five years real estate values will be up from today's levels in 99 percent of all U.S. housing markets.
"There are many reasons for people to get into the housing market today, and very few reasons not to," Yun notes. "With the plentiful supply of homes for sale at affordable prices, interest rates approaching 40-year lows, and the strong track record of housing as a good long-term investment, conditions are ripe for buyers. Those are the facts, plain and simple."
Knowing your mortgage payments will remain affordable for years takes away a major concern. Let us show you how different financing plans would fit into your budget, and you'll be ready to locate a great new home!
Real Estate Levels Off
America's real estate boom years of 2002-06 are over, says National Association of Realtors Chief Economist Lawrence Yun, and conditions are going back to what was normal before then. Several factors are helping to stabilize the market.
Construction has fallen and new home inventory has peaked. Reducing the number of houses on the market will help firm up prices.
Some commentators even suggest that home building will fall off so much that in the future we'll experience a housing crunch. America's population is growing, and new households will continue to need a place to live.
Close to 1.5 million households are formed in the U.S. each year, NAR says. Yet housing starts could fall by more than one-third this year, says Fannie Mae, to a total of just 935,000.
Home sales volume and price movement vary widely, due to local market conditions. Even in hard-hit areas, drops in value typically are seen in newer neighborhoods. That's because builders with unsold properties are aggressively lowering their prices now. But owners in established neighborhoods don't need to move, so their house values usually aren't plummeting.
Inflationary pressures also could strengthen home prices. However, they could cause mortgage rates to edge up, as well.
Many families looking to purchase a house which they'll live in for years are finding now is a great time to buy real estate. Home sellers are ready to negotiate attractive deals, and interest rates remain low. Get in touch with us before you start looking at homes. We'll go over today's mortgage options with you, so that you'll know what you can afford before you begin shopping.
Make Smart Choices
Most Americans buy a house only a few times during their life. Because numerous steps are involved, purchasers generally don't completely understand the process. So it's crucial to work with professionals you can trust when buying a home. You personally can't find the time and develop the expertise to make sure all details are handled correctly.
Ask plenty of questions before committing to a loan provider. Too many consumers make a choice by asking "What's your rate?" and then going with whoever gives the lowest answer. Almost invariably that's misleading, since rates are set by the markets and not by lenders. Additionally, there are other crucial aspects to a loan which should be considered before signing papers.
First, make sure your property type is eligible for the loan you're getting a quote on. Some mortgages are restricted in the types of real estate which they can used to purchase. Also determine that you qualify for that rate. A small down payment or low credit score can alter the rate you'll receive. Look at the mortgage's total cost, as well. Closing costs and cash reserve requirements will affect your finances as much as your interest rate will.
Consider all these variables when shopping for mortgages. Finally, be certain that loans have the same features before comparing them. Also remember that loan rates change constantly, so prices received at different times will vary. A quote you got last week may not still be available now. If you're looking at adjustable-rate mortgages, be sure you understand how your payments could change in the future. Also see if you could afford the mortgage if a "worst case" rate adjustment occurred later on.
You can rely on us to provide you with honest answers and effective solutions when you're buying a home. Ask us for the names and phone numbers of customers like yourself who have used our services, so you can talk with them about the results they achieved.
Learn How to Save
A recent national survey shows that three-fourths of Americans believe they aren't saving enough money. Currently we set aside less than one percent of our incomes, reports Pew Social Trends, which conducted the survey. Savings have been falling over the past 20 years, Pew adds.
Americans at all income levels are about as likely to say they don't save adequate amounts. One reason, researchers note, is that we tend to mimic the spending habits of our neighbors. Spending also makes us feel good at the moment, while saving puts off that emotional lift. But take a positive step by reminding yourself how you'll feel as you pay off your credit card debt, or add to your savings account.