Back in the early to mid 1980’s, mortgage rates hit highs. Being able to find a loan at today’s rates was impossible. And, as the economy continues to strengthen, there is a very real chance that in the years to come, we may see rates rise to similar levels as in the 80s.

So why does that matter to you now? Well, it simply means that buying a home and utilizing your VA home loan benefit could provide you an extra selling point in the future, should you choose to sell your home.

VA home loans are assumable, and they are one of the only loan programs like it that are left. This means that if you should choose to sell your home to another Veteran, they would be able to utilize their VA home loan benefit, but keep your rate. So, if rates do rise, a fellow Veteran may want to buy your home over another type of home because they can lock in a low interest rate.

If you were to sell your home to a fellow Veteran who then utilized their VA home loan benefit with your rate, you would have no ties to the new loan, even though it has the same interest rate that you were paying. In fact, you can then utilize your VA home loan benefits again on your next home.

However, you could also sell your home to a non-Veteran, in which case, they would also get to utilize the low interest rate, but they would tie up your VA home loan eligibility until the loan was paid off. But, you would not be responsible if that individual were to lose the home. You would not have to pay a dime — though it may affect your eligibility to utilize the VA home loan benefit again.

Basically, by taking advantage of today’s low rates, you may be able to leverage your low-interest VA home loan into an added selling point in the future.

Ready to buy? Call us today. Creekside Mortgage, Inc. 360.571.5626.