Over the last five years or so, there were an increased number of short sales because of negative economic situations for millions of people. For many people, these foreclosures and short sales have ruined their credit and made it extremely difficult to get back into a home.
In the mortgage industry there are many acronyms, and they make it difficult and intimidating for Veterans to get loans. So we’ve put a list of terms on our website that are commonly used in a VA loan transaction. But before we direct you there, we’d like to explain one term in more detail.
There are several reasons you should use your VA benefit to buy a home. Veterans and military families all over the country are taking advantage of the huge savings that a VA loan brings, and we want to tell you why.
You know you’re a reliable and honest person, but the lender knows other people aren’t always like you. As a result, lenders have several standards to help measure your ability to repay the money you borrow.
Interest rates for home loans have been going crazy, especially this last week. The main driver behind the interest rate spike is the looming pullback that no one seems to know when exactly will happen.
Ten years ago the market was setting the foundation to have a major housing crash. Looking back now, for a lot of people, it would have been better to rent. Unfortunately we didn’t know, and a lot of people learned the hard way, that what goes up, must come down.
Getting a new home has been a little more difficult the last few months. More people are trying to buy in a market where less homes are available for sale.
Another large factor in the ability to buy a home is interest rates. Interest rates have been increasing incrementally over the last three months.
We just released this month’s newsletter! We know it’s later than usual, but it’s because we wanted to be able to include the announcement of our new website and video series.
You are very important to us. That’s why we’ve allocated so many of our resources to a new tool for you.