Qualify for a VA Home Loan
At VALoans.com, we absolutely know that BAH, The Basic Allowance for Housing for short, is a military benefit that comes in handy when applying for a VA home loan because it provides the lender with an easy-to-measure proof of a veteran's ability to pay a mortgage. Very few mortgage lenders know and understand how to incorporate this simple calculation which is included in the Veterans debt-to-income ratio.
BAH is tied to the state of the local rental market in the applicable zip code. If the local housing market is expensive, BAH tends to run higher than in areas where rents are lower.
In 2010, BAH also has a few additional features to contemplate when factoring in the Basic Allowance for Housing into your home buying budget. A complete list of BAH Rates for each state can be found ou our website.
Volatile stock prices point out one reason we love our homes. Imagine how you would feel if you saw your house's value go up or down by several percentage points in a single day! Americans understand that owning real estate gives them a stable place which they can enjoy every day. And they appreciate knowing houses tend to go up in price over time.
A recent national poll reveals that almost three-fourths of adults think housing prices will go up or stay the same over the next twelve months. Just a little more than half of all Americans felt that way two years ago. Seventy percent of us also believe that buying real estate provides one of the safest investments available. Almost two-thirds of those surveyed say now is a good time to buy a home, as well. Additionally, the same percentage agreed that owning your house is preferable to renting.
Positive lifestyle benefits, such as living in a safe neighborhood or having good schools for your children, are more important than financial considerations for American consumers. More than two out of three renters plan to buy a home in the future. Owners gain from housing tax benefits, enhanced lifestyles, and financial gains. Let us help you decide if now is an opportune time for you to make a first-time or move-up purchase.
We'll review your credit report with you, and show how various financing tools would fit into your personal situation. You'll then be able to make a great long-term decision!
Surveys show that some Americans are concerned about being able to make their mortgage payments. Yet it's still possible to gain savings by refinancing into a new loan at today's low rates. Many homeowners could cut their monthly payments now. Unfortunately, some of these households think refinancing today is harder than it actually is.
Rates remain near the lowest levels we've seen in years. Recently rates have dropped on adjustable loans which offer stable payments for up to a decade. A household which plans to move, have a higher income, or reduce their expenses in the future is a prime candidate for a "hybrid" adjustable-rate mortgage. These loans provide payments which don't change for a set number of years, before moving into their adjustable phase.
Get in touch with us soon to find out if you could reduce your housing costs for years to come. We'll show you how different loans would work in your current circumstances, so you can make a beneficial choice. Gaining lower payments will give you greater peace of mind, along with extra cash every month. Refinancing can be a big first step towards reaching your long-term goals.
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Home prices nationally have gone up over the past twelve months "for the first time since December 2006," says the S&P/Case-Shiller Home Price Indices. Consumers most likely will find that a house they're thinking about buying today will cost more in 2011. Real estate prices are responding to America's economic recovery, experts say. Continued low mortgage rates also make housing affordable today.
Home sales increased by almost five percent last year, and are forecast to go up 6.5 percent in 2010, says the National Association of Realtors (NAR). Property values should rise 2.7 percent in 2010 and 4.3 percent next year, NAR adds. But the combination of a stronger economy and increased government spending is likely to cause interest rates to rise. Long-term mortgage rates could move appreciably as a result, notes NAR.
Contact us now if you hope to move into a new residence in the near future. We'll guide you through today's mortgage marketplace, so you can accomplish your plans.
Job creation is picking up across America, recent reports show. April saw the largest hiring increase in four years. Economic turmoil in Europe has little effect on the need for workers in U.S. companies. So employment picked up more this spring than experts had predicted.
And the jobs being added now offer a wide range of opportunities for American workers. "Job growth," notes The Los Angeles Times, is happening "in almost every major industry."
Most of the gains were at private companies, which shows that "the economy is weaning itself from government support," says Bloomberg News. Average number of weekly hours worked also went up in April. Job increases were reported "from manufacturing and construction to services," Bloomberg notes. "Manufacturers added the most workers to payrolls since August 1998."
New jobs are necessary to sustain America's economic recovery. Employment allows consumers to spend, which in turn keeps companies busy. Consumer spending showed its largest increase in three years during 2010's first quarter.
Economists say that’s another indication the employment picture is improving, and they’re optimistic about future job creation. However, they note that official unemployment rates won’t drop soon, since better prospects for work encourage more people to actively search for jobs. Yet the bottom line is that more folks will be bringing home paychecks. And that makes life better for everyone.
We're using these social media tools to keep the veteran community informed about a variety of issues. We'll be highlighting changes to veteran benefits and will keep our fans updated on relevant stories and articles.
Obtaining accurate information is crucial for making smart real estate decisions now. One key is that everyone's financial and life situations are different. So what may be a good solution for someone you know isn't necessarily the best choice for you to make. Another important factor to remember is that home prices vary between neighborhoods. Similar properties a short distance apart may not have comparable values.
Whether you're thinking about purchasing, selling a house, or refinancing your current mortgage it's essential to know what that property is worth on today's market. Some areas where house prices declined in recent years are experiencing a rebound now. Falling prices lead to eventual gains in property values, once buyers realize they can find great deals. "Buying often now beats renting," states The New York Times. "In some once bubbly markets, prices have fallen so far that buying a home appears to be a bargain."
It's helpful to know not just today's value, but also the direction prices are moving in the neighborhood you're interested in. Look at recent sales prices, and compare them to what similar properties were going for three to six months ago. Understanding where house values are headed in your community is essential information. But a bigger key to making a timely purchase is doing so when your payments are affordable.
You'll then know your housing costs will fit into your budget. Over time you can expect your residence to go up in value, as well. So after enjoying your home for years, you'll most likely be able to sell at a profit. Buying a house involves personal timing more than watching the market. Talk with us before you begin looking at homes, and we'll show you how much you can afford to spend now. You'll then be ready to find a house which will be a great place for you to live.
