VALoans.com has published an online breakdown of the 17 states that exceed the $417,000 limit for VA home loan purchases with $0 down. See the entire list. The breakdown for Alaska can be seen separately. We are originating more VA Jumbo loans all across the country and welcome you to apply for a VA home loan.
Almost 90 percent of American homeowners say they would choose to buy a home if they were making their purchase decision again, states a recent national poll. An overwhelming majority of owners also would tell a young friend or family member that buying real estate is a smart long-term financial decision.
We still rate homeownership as a big part of the American Dream, according to the poll results. Raising a family is the only activity deemed more important, the pollsters add. And "having a place to raise a family" was by a large margin said to be the best reason for homeownership. Most Americans agree that "homeowners are more financially successful" than renters. Three out of four of us also believe the American Dream is achievable for ourselves, and people we're close to.
That upbeat spirit is reflected in another recent survey, which shows that more adults now believe real estate will recover soon, when compared to what they thought a year ago. Two-thirds say property values will be rising one to two years from today. While you may be growing more confident about market conditions, you probably have questions about financing your next home purchase. Contact us before you start looking at houses, and we'll show you what monthly payments you can expect.
Owners who are thinking about moving will benefit from fixing up their property. Today more than ever, it's easier to sell a home once it meets buyer expectations. A few years ago many homebuyers would take out a home equity credit line when they purchased a new house. Doing so gave them funds to fix up or remodel their residence.
But today's tighter credit conditions mean buyers can't take that route. So now they're looking for houses which already are in good condition. That doesn't mean you have to perform major renovations. But making sure your property is ready to move into can help you complete a timely sale. If you don't want to do upgrades before selling, consider offering buyers gift cards which they can redeem for paint, carpeting, or new appliances.
Buyers also are eager to find properties which have energy-saving features. Let prospective purchasers know about improvements you've made which will cut their utility bills. Talk with us soon if you're planning to move. Let our professional knowledge and skills guide you as you begin shopping for a new place to live.
Housing affordability has reached a new record, reports the National Association of Realtors (NAR). Families with average earnings have almost twice as much income as they need to get a loan on an average-priced home, NAR says.
Attractive home prices and great mortgage rates continue to help households buy a residence they'll love. Affordability has improved over the past year, so it's in your interest to look into purchasing now. We can show you what your monthly payments would be after moving. And we'll go over your credit report with you, so you can obtain a loan on the best possible terms.
Low mortgage rates are a big help in keeping housing affordable. But many economists say rates will go up in the future. So acting soon could be to your advantage. Even if home prices fall a bit more, that advantage would be lost if rising rates cause your mortgage payment to increase.
Loans are available today with down payments below five percent. Talk with us to find out more about these opportunities. You also can consider using IRA funds to buy a first home. A married couple can withdraw up to $20,000 from their IRAs to invest in a home without having to pay taxes or an early withdrawal penalty.
To qualify you must not have owned your principal residence during the previous two years. Talk with your tax advisor for more details on how this strategy would work in your specific circumstances. We're ready to assist you throughout the home purchase process. Come to us with your questions, and find out if now's the time for you to make a life-changing move.
Unexpected home repair bills can be challenging. Fortunately, most homeowners carry insurance to have funds for emergency upkeep. A typical homeowners insurance policy doesn't cover all possible disasters, however. Generally you'll need additional policies to be protected from the effects of hurricanes, floods, or earthquakes. But most claims are due to less-catastrophic events. Lint trapped in a dryer vent can cause a fire. Falling branches during a storm can result in roof damage. Bursting water pipes may ruin a carpet.
Homeowners insurance also provides protection against theft losses and personal liability if someone is injured on your property. Talk with your insurance agent to make sure you understand your coverage, and to determine if you're comfortable with the dollar amount of protection which you have. Repair costs can rise over time, so many policies offer an inflation guarantee. Your coverage then will increase as your home rises in value. Extended replacement coverage is another benefit to look for in a policy. It allows your benefits to exceed the property's insured value if that's needed to rebuild your home.
You'll save when purchasing insurance by having a large deductible amount. Handling small repairs yourself, rather than filing claims for them, also will keep your premiums as low as possible. Obtaining several policies from the same firm can reduce your total insurance costs, as well. Ask your agent how certain home improvements can further cut your premiums. Having a home security system or storm shutters may provide you with additional savings.
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