While certain companies recognize the country's active duty military and veterans once a year or highlight them on television one week during the year, VALoans.com acknowledges them every day. When we review loan information given by each Veteran, we automatically give the best possible rates coupled with excellent customer service. We want to scream out loud to Veterans and active duty military Personnel that have earned their VA eligibility to simply use it. Why? Because in most cases, it is the best program available.
There are many different loan products available to Veterans, yet we narrowed it down to the most popular three, ranging from $0 down to 20% down. The loan types are as follows:
Simple analysis shows that the VA loan requires the least amount of down payment ($0) and has the lowest monthly payment. Different lenders may have fluctuating closing costs, yet they cannot change the parameters of each program. The key factor that allowed the VA loan to have the lowest payment was that both the Conventional Loan and FHA Loan require Monthly and / or Annual Mortgage Insurance.
The VA loan does not - for there is a one-time VA funding fee that is rolled into the loan. We want Veteran borrowers to be aware of these facts and to be informed when purchasing a new home. Each Veteran has different personal situations and they should compare each program available to them and the costs associated with each loan type.
Home loans are available to help consumers in varying circumstances today. For instance, first-time buyers can purchase with lower down payments. Or persons who don't have the cash to pay all their loan closing costs can select a "no-cost" home loan. You'll then pay those expenses over time, by opting for a slightly-higher interest rate. Borrowers who have extra cash and know they'll be staying in their home for years can select a different strategy. You'll permanently lower your monthly housing costs by paying points to reduce your mortgage rate.
Homeowners nearing retirement often have questions about decreasing their payments once they stop working. We'll be happy to talk with you and your financial advisor about those issues. Some mature owners decide to pay off their mortgage, so they can live debt-free. You'll essentially be gaining a return on those funds equal to your home loan's interest rate. However, make sure you have adequate savings to live on before devoting a large sum to reducing or eliminating your mortgage.
After reviewing your finances, you may choose to refinance into a new loan at today's low rates. You can cut your monthly payments, which will give you more money to spend on what you want. We'll go over how different home loans would work in your specific situation. You'll then be in a position to make the best possible borrowing choice. Having the right mortgage lets you enjoy your home to the maximum. Contact us right away, so you can take advantage of today's great loan rates!
"Americans are getting back to business," says economist Dr. Ed Yardeni. He cites a number of "upbeat indicators" that suggest our recovery is gaining momentum.
"Manufacturing is humming along," states Yardeni. Car makers are leading the charge, followed by firms making equipment for businesses.
Factory use is at its highest point in almost four years, Yardeni points out. Housing also is starting to look better, with construction of both apartment buildings and homes picking up.
New figures released by the government show average incomes grew at a pace well above the rate of inflation last year. Americans also are continuing to reduce their personal debt loads. As a result, we're starting to spend a bit more freely. Many retail stores report business is picking up. Sales of light trucks also increased more than 14 percent in February, compared to a year earlier.
Economic recoveries don't proceed on a straight-line path. We can expect to have periods of weakness as we gather our strength. But each day brings us closer to a healthy recovery. If you believe that the future will be brighter, now could be an excellent time to look into purchasing a home. Let us know what your concerns are, and together we'll review the positives which are in your favor now. In a few years you may be congratulating yourself for making a smart move today!
"Buying a home is now more affordable than it has been in the last 20 years," reports CNNMoney.com. Terrific home prices and record-low mortgage rates are combining to create these beneficial conditions. More than three out of four homes sold during the last three months of 2011 "could have been comfortably purchased by families earning the national median income," CNNMoney.com says.
Americans are responding to this positive environment by increasing their real estate purchases. Earlier this year monthly homes sales rose "to the highest level in nearly two years," notes The Wall Street Journal.
"It seems that the housing sector may have turned the corner," comments an economist quoted by the Journal. "We're slowly improving for the right reasons," another economist adds. "More jobs, more credit availability and affordability of homes" are indications that real estate markets are heading towards a recovery. Consumers are aware that housing is slowly strengthening. Last year they purchased more homes than in 2010 – and that total is forecast to increase in 2012.
Innovative products can give your home a real makeover. Owners who don't have chimneys can add a gas- or electric-powered fireplace which hangs on a wall. Making positive changes doesn't have to be radical, however. Often you can save money by doing much of the work yourself. Taking pride in your home lets you pass good values to your children. You'll be teaching them skills, as well, which they'll use in the future. Owning your home will be a great adventure. We're here to help you get started on that path. We understand that everyone's needs and circumstances are different. Your individuality is important: Once you've described your housing objectives, we'll assist you throughout the buying process.
VALoans.com is using social media tools to keep the veteran community informed about a variety of issues including VA mortgages. We'll be highlighting changes to veteran benefits and will keep our fans updated on relevant stories and articles. Join us and stay informed.