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VA Loan / Veteran Mortgage News
SPONSOR:
Pioneer Military Loans offers responsible military lending solutions that can help
service members avoid or break the debt cycle. Pioneer serves active-duty and career-retired military service members,
as well as Department of Defense employees.
OCTOBER 2003
Top 10 Reasons Why VA Financing is a Good Deal for Veterans
There are more than 29 million armed forces veterans in the U.S. today, many of who qualify for
attractive home financing programs guaranteed by the Department of Veterans Affairs. Most popular
online mortgage companies do not address VA loans at all. At VALoans.com,
we specialize in them, offering in one place all the expertise every veteran needs to secure VA
financing via the Internet. Before arranging for a new mortgage to finance a home purchase with
other types of loans, veterans should consider some of the advantages of VA home loans.
- Most important consideration, no down payment is required in most cases.
- Loan maximum may be up to 100 percent of the VA-established reasonable value of the property.
Due to secondary market requirements, however, loans generally may not exceed $240,000.
- Flexibility of negotiating interest rates with the lender.
- No monthly mortgage insurance premium to pay.
- Limitation on buyer's closing costs.
- An appraisal which informs the buyer of property value.
- Thirty and fifteen year loans.
- An assumable mortgage, subject to VA approval of the assumer's credit.
- Right to prepay loan without penalty.
- VA performs personal loan servicing and offers financial counseling to help veterans
avoid losing their homes during temporary financial difficulties.
The GI Bill Can Change Your Future.
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Westwood College Online
Westwood College’s online program offers you the flexibility you need to earn your degree when and where it’s most convenient. Degree programs include business, criminal justice, design and technology.
Colorado Technical University Online
At Colorado Tech Online, you can earn a career-relevant degree in just 15 months. Every CTU Online degree includes multiple Professional Certificates without additional courses or cost. Learn more today.
Capella University
As an accredited university with online degree programs in five schools, Capella University is committed to helping you accomplish your goals through a high-caliber educational experience.
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Strayer University Online offers degree programs designed to fit your busy schedule. Attend real-time courses via the Internet, or complete coursework at times most convenient to you.
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Balance your personal and professional commitments while earning a respected Ph.D., master’s degree, or bachelor’s degree online at Walden University. Programs offered in management, education, psychology and health and human services.
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University of Phoenix
As a regionally accredited university, and a long-time member of Service members Opportunity Colleges (SOC), University of Phoenix is approved by all branches of the military for tuition assistance and is approved for veterans training.
South University
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Low Rates to Continue
Record-low rates in 2003 will produce the most home sales ever for one year, predicts the
National Association of Realtors. Now also is an excellent time to find a bargain when shopping
for a home. Households who are selling during the colder months often are highly motivated to
find a buyer and move quickly. You may be able to negotiate a great price, since fewer
families are looking to buy a house now.
Most economists also expect mortgage rates to stay at attractive levels over the next
few months. Price increases for products and services remain modest, and that will keep
interest rates from moving up rapidly. Yet mortgage rates will rise as America's economy
strengthens. Looking for a home today is smart, since higher rates will increase your
monthly payments.
Let us get you started by showing how today's home loans can help you make
a purchase soon. We'll tell you what your monthly payments will be, so you can focus on homes
you know you'll be able to afford.
Veteran Newspaper Still Going Strong
Despite many setbacks and stiff competition from many military newspapers, The Veteran Voice
newspaper is still going strong. Published since 1995, The Veteran Voice has evolved into the
leading publication for veterans and retired military in the greater Jacksonville, Florida area.
Every month, 10,000 copies of The Veteran Voice are distributed throughout the Jacksonville
metropolitan area to hundreds of subscribers across America and overseas.
The Veteran Voice is published by Regina MacKenzie, the daughter of an Air Force veteran
and the wife of a retired Navy veteran. Early on, she recognized the need for a publication
that served an often-ignored audience in her area. VALoans.com has been selected to supply
mortgage information to The Veteran Voice. Each month The Veteran Voice brings news of
interest to veterans and retired military across the Coast; VA loan information, promised
health care issues, military career experiences, POW/MIA recognition, military book reviews,
announcements, reunions, club meetings, veteran organization listings, plus a variety of
veteran-related issues can be found within its pages.
Each and every issue of The Veteran Voice is dedicated to the brave men and women who have
served and are still serving our country and the American way of life. We must all remember our
veterans and the sacrifices they made to preserve our freedom and the safety of our nation.
This newspaper is the "voice" for veterans! Visit them at www.veteranvoice.com.
New Tools for Home Buying
You need the right tools to do any job well. That's true whether you're planting a garden or fixing a car.
Part of our role when you're buying real estate is to inform you about different mortgage options, and to show how these financing tools would work in your situation. Here are some lending possibilities you may not be aware of -
- You can purchase a property that needs fixing up and obtain funds to pay for those improvements at the time you buy.
- Down payments as low as three percent are common now - and that money can come as a gift, grant, or loan from a relative, employer, government agency, or non-profit group.
- Regular income from a variety of sources - including overtime work or part-time jobs - can help you qualify for a home loan.
- Relatives living together can pool their funds when applying for a mortgage.
- Homebuyers with stable incomes, even though they change jobs frequently, can obtain a mortgage.
- Perfect credit is not required to purchase your own home.
- A home's seller may agree to pay part of your closing costs.
You'll find we ask lots of questions to help figure what mortgage would work best with your household's finances. It's important to know when a new baby will arrive or the date your car payments will be over.
In that way we'll be sure your home and its financing make you happy both today, and for years to come. Contact us soon to find out more about today's home buying opportunities.
Houses Reap Steady Price Rises
A recent government report shows that average house values rose almost 5.6 percent over the year ending June 30. Over that same period the cost of other goods and services grew by just two percent.
You can see in the chart here how home prices went up in different areas of the country. Home prices have gone up an average of 4.5 percent each year during the past decade, says the National Association of Realtors (NAR).
A house that cost $125,000 ten years ago typically will be worth $194,121 today. Simply living in your home allows you to enjoy this increase in value.
Rent Keeps Rising
Renters see their payments to the landlord go up over the years, while homeowners are building their family's future security. NAR says rent payments of $750 ten years ago on average have risen to $978 today.
Buying a house will help you financially over the years, while providing a good place to live now. Today families also don't need to have a lot of savings to purchase a house.
No wonder more than two out of three households own their home now. Buying a first or move up home is a big step, however.
It's important to work with professionals who will listen to you, and answer all your questions. Talk with us soon to find out how you can purchase the house you want!
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