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.
VA Home Loans Have the Lowest Delinquencies
According to Mortgage Bankers Association's National Delinquency Survey, VA's foreclosure rate for the last nine quarters and serious delinquency rate for the last six quarters have been the lowest in the housing industry. In the same news release from the Department of Veterans Affairs, VA has guaranteed their 19 millionth home with cumulative guarantees of $1 trillion. - READ MORE -
Weighing the Risks
It's not surprising that some prospective homeowners are wary about purchasing now. Real estate values have dipped in recent years, after experiencing a long boom in home prices. But long-time owners have no doubt about the importance of living in your own residence. U.S. homeowners have enjoyed average annual appreciation of more than three percent over both the last ten and 20 years, states the Federal Housing Finance Agency.
A recent survey shows that 95 percent of homeowners and almost three out of four renters believe that homeownership is more sensible than renting, as long as you plan on staying in the same residence for several years. Close to nine out of ten owners agreed that "owning a home provides a healthy and stable environment for raising a family." More than 60 percent of renters are planning to buy a house in the future, the Harris Interactive poll adds.
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Market Keeps Improving
Mortgage rates have been drifting up from 50-year lows for a few months. However, rates recently were lower than they were a year ago, states mortgage investment firm Freddie Mac. Stronger economic indicators are causing rates to edge higher. U.S. factory output rose in January at its fastest pace in more than six years, and consumer spending at the end of 2010 was expanding more than it had in almost five years, according to economic reports.
Low mortgage rates are keeping housing affordability at record levels. And today's best bargains come from adjustable-rate loans. Borrowers can obtain monthly payments which won't change for five years at more than one percentage point below what's available on 30-year, fixed-rate loans. Someone with a $150,000 mortgage would save almost $100 each month as a result.
Let us go over with you how today's financing opportunities make buying a house possible now. Buyers who are stretching to find funds for a down payment also can ask sellers to pay some of their closing costs. Or borrowers may be able to pay a slightly-higher rate and obtain adequate funds from their lender to finalize the purchase. Contact us soon to take advantage of current real estate opportunities!
Homeowners and Life Insurance for Veterans
When looking for home and auto insurance
, VALoans.com customers have found that they can rely on Armed Forces Insurance. For over 120 years, (AFI) has been providing property insurance for military professionals throughout the U.S. and overseas. AFI is solely dedicated to the service of our members and their families and offer offer fair and competitive rates and quality customer service. AFI is headquartered at Leavenworth, Kansas. They are founded by and led by former military leaders and their products are tailored for you.
When looking for life insurance
, VALoans.com customers have found that they can also rely on Military Benefit Association. MBA was founded in 1956 as a non-profit association to promote the welfare of their members, to safeguard their economic interests, and to improve their financial conditions through cooperative enterprises.
Today, MBA sponsors affordable group term life insurance that fits the needs of military and federal employees and their families. We’ve assembled a host of valuable membership benefits you asked for to support your modern military life. MBA has one purpose: to serve military and federal civilian communities with real value, real information, in real time.
A Time of Opportunity
Homebuyers face fewer risks today than we've seen in years, since mortgage rates are at some of their lowest points in decades. Great prices also make buying soon an affordable possibility for many households. Yet real estate price movements are "becoming less national and more regional," notes Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., Inc. Study neighborhoods you're interested in to see how values currently are moving before making an offer.
Despite a price uptick in many areas, some potential purchasers are hesitating now. Yet if your payments would be affordable and you plan on staying put for several years, there's no reason not to move ahead with a home purchase soon. Let us show you how mortgage payments would fit into your budget, so you can select a special house that's affordable for you.
Get Ready for Yesterday
Some commentators say America is entering a "new normal" time – a period of reduced economic activity and lower expectations. Yet it's also possible to view current times as being normal, after a few years of excess. Most of us have hopes for the future. But they are realistic outcomes from where we are now, rather than a wish for extreme changes. Our dreams usually involve being closer to those around us, and giving back to our family, friends, and community. Having the biggest house or newest car generally isn't at the top of our list of aspirations. In that sense today's "new normal" really is closer to our true values.
Better Price Outlook
No one can be certain how home prices will move over the next few months. But it's reasonable to forecast that real estate values will climb in coming years. Here are some factors to consider:
- Demographic forces will increase demand, which will drive up prices. America's population continues to rise every year. New households keep forming – and they all need a place to live.
In difficult economic times young people may stay with family or friends longer than they'd like to. But eventually they will move out on their own.
Nearly three out of four young adult renters say they're likely to buy a home in the future, reports a recent survey. Most renters looking to purchase say they'll do so within five years.
- Higher inflation also will raise house values. Inflation has been affecting our finances for decades, and many commentators believe its pace will increase.
America's economic growth and overhanging debt both could push rates higher. Increasing the money supply can cause our currency to lose value over time.
But home prices traditionally move upward as inflation rises. One reason is that more than half of a typical home's cost lies in the value of the land beneath the structure.
Inflation directly boosts what real assets are worth. As the purchasing power of a dollar falls, the relative value of tangible goods rises.
Higher inflation also makes it more expensive for builders to construct new homes. Prices they must pay for land, materials, and wages all go up during inflationary periods.
Homebuyers discover new houses often are out of their price range as a result. Buying a resale home, even if it costs more than it did a year earlier, then is an excellent option.
- America's economic recovery will energize real estate markets. Forecasters say the U.S. economy is on a gradual ascent.
Signals ranging from factory orders to retail sales have been picking up for months. A better economy will produce jobs, which will enable more households to buy homes.
Anyone who chooses not to purchase soon may miss long-term lows in both home prices and mortgage rates. Together they've combined to boost housing affordability to record levels.
We'll help you calculate how home payments would suit your financial situation. Count on us to supply you with the facts you need to make a smart long-term housing decision.
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