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Buying a home usually occurs in stages: 1. You provide an earnest money check to the escrow company (often, the same time that you make an offer on the home) 2. The lender will verify that your down payment comes from an acceptable source 3. You’ll bring your down payment »
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Study after study shows that no matter what generation Americans belong to, the vast majority believe that homeownership is an important part of their American Dream. The benefits of homeownership can be broken into two main categories: financial and non-financial (often referred to as emotional or social reasons.) For Americans »
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Here are ways you can make your tax refund work for you when buying a new home: Down payment. Saving for a down payment can be one of the biggest barriers to buying a home. With low down payment options (3.00% on Conventional loans and 3.50% on FHA Loans) »
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In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is »
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Lowest rates in 9 months There is a quiet refinance boom brewing, as mortgage rates sink to 9-month lows. Not since April 2018 have rates been this low. Freddie Mac, in its weekly mortgage rates survey, reported that the average 30-year mortgage rate hit 4.45%, sinking below the psychologically important »
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The VA loan is an option for active duty military personnel, veterans and their families. It is backed by the department of Veterans Affairs (VA). This does not mean that the VA actually lends the money, but they do insure the loan for private banks and lenders. For that reason, »
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Every year around this time, we take time to reflect and plan for next year. If you are renting your current home but have dreams of homeownership, your plan for the new year may include buying, and you wouldn’t be alone! According to the 2018 Bank of America Homebuyer Insights »
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The front door of a home is the focal point, it is the first impression as to what awaits inside. It has become more popular lately to have colorful front doors, adding a pop of color to the exterior of the home. The color you choose may not be for »
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VA Mortgage Corp is honoring the new increased loan limits effective tomorrow. That’s an increase from $453,100 to $484,350 for regular conventional loans and from $679,650 to $726,525 for conventional high balance loans. Don’t wait for the New Year to qualify more of your borrowers for conforming loans. Fannie Mae »
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Moving to a new home is an exciting experience. It can also be a stressful for both you and any pets you may have. Below are some ideas to help you and your animals have stress free move. Acclimate- If the pet is not used to being in a carrier, »
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Why VA Mortgage Corp? At VA Mortgage Corp, we’ve made it our mission to be a different kind of mortgage provider with an unwavering focus on helping Americans achieve and sustain the dream of homeownership. This is made possible through the hard work and dedication of our loyal employees and »
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In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to »
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We know that buying a home is one of the biggest investments you will ever make. That is why we have put together a list of 9 great tips to assist you in making your best buying decision: #1- Know your budget. Before going out and looking at homes, get to »
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Why Use a Broker? Independent mortgage brokers have had a significant positive impact on the lending industry. Today, the use of a professional mortgage broker is one of the key strategies used by sophisticated borrowers. What is a Mortgage Broker? A mortgage broker is an independent real-estate financing professional who »
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1. There’s less competition Competition for houses drops off in the fall, a time many people consider to be off-season in real estate. But there are still homes for sale — and in some cases, there’s just as much inventory as there was during the spring and summer. Fall is »
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Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released. The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since »
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What is a credit score? A credit score is a complex mathematical model that evaluates many types of information in a credit file. A credit score is used by a lender to help determine whether a person qualifies for a particular credit card, loan, or service. Most credit scores estimate »
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Why are homeowners suddenly so interested in cash-out mortgage refinancing? Although mortgage rates have ticked up recently, they are still relative bargains by historical standards. This is giving homeowners a big incentive to pay off their high-interest loans with lower interest cash-out refinancing. A cash-out refinance involves taking out a »
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Are you on the fence about whether to buy a home or continue to rent? It may seem like a hard decision to make, but we can help you decide. Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise »
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Want to put in an strong offer? Here’s how: Get prequalified. A true way the seller knows that you are serious about buying a home is having a prequalification letter ready to go. Without a letter from a lender, you have no bargaining power and more than likely won’t »
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When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much »
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Interest rates are projected to increase steadily heading into 2019. The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be. Rates are still low right now. Don’t wait until rates hit 5% to start searching »
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What exactly are Energy Efficient Mortgages? They are loans that cover the cost of making energy efficient improvements to a dwelling. So this comes into play for instances like if you find a house you love, but the windows don’t close all of the way. This option is provided to »
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First of all, what is a mortgage broker? We like to think of ourselves as the middle man between client and lender, and although we do not actually fund the loan, we are still fully invested in the process. Mortgage brokers are almost like personal shoppers- we get to know »
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Many people that qualify for VA loans, aren’t sure if they can have two at the same time. Many lenders do not know this either, but the answer is YES! Whether you are intending on purchasing a new home, or even refinancing a current mortgage into a VA loan, it »
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According to MarketWatch reports that the Federal Reserve will make some hawkish changes to its statement this week and confirm that another rate hike is coming in March. The members of the Fed’s interest-rate setting body will want to send “some modest signal” that a rate hike is very likely at »
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The New Year has come, which means it’s that time of year again; time to bring out the shovels and snow boots. Although in many places the snow has already fallen many times, here in Virginia Beach we just got our first taste of the year. It is not too »
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Pay off high interest rate credit cards and personal loans into one lower rate using your mortgage. Here are a few ways refinancing your mortgage can benefit you. Lowering your rate– This is the best option if you are trying to consolidate your debt. When you refinance to a »
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Time to ring in the New Year! We are planning a lot of exciting things this year, which includes making many resolutions and goals as well. While everyone is making the usual resolutions to get in shape or stop drinking soda, we are thinking bigger. Why not set a goal »
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Thinking of selling your home? Free market valuation | Evaluate your net after closing | Prepare for your next move Eliminate the upfront pressure form a real estate agent when thinking of selling your home. We can assist you with a comparative market analysis through our preferred agents without »
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Want to build the home of your dreams? Take advantage of our Zero Down VA or 3.5% Down FHA One-Time Close Construction Loans. Need a builder? We can help with our experienced preferred builders in your area. Construction to permanent loans allow the buyer to build the home of their »
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The Federal Housing Financial Agency announced on November 28th of 2017 that starting on January 1st, 2018 the maximum conforming limit will increase to $453,100. That is a $29,000 increase from the $424,100 current maximum. So what does that really mean? What is a conforming limit? Fannie Mae and Freddie »
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We know that those who are serving in the military, or those who have served before, have worked extremely hard for our country. That is why there are so many benefits for military personnel or veterans throughout all businesses. However, there are many people who are thinking about applying for »
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To us here at VA Mortgage Corp, it is important our clients know what is going on every step of the way. One big factor when dealing with mortgage loans is the interest rate. Interest is a percentage of the amount that you owe as a fee for borrowing the »
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Thinking of buying a home but you have had a previous bankruptcy, foreclosure, or short sale? Over 7 million people lost their homes during the Great Recession. Time has passed and your credit may have improved since then. There are waiting periods for major derogatory credit events to pass, but getting »
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Written by: Sherry Huhn I can’t tell you how many times I have come across clients that didn’t know that qualifying for a mortgage could be so easy. Getting qualified for a new home can be a daunting experience for some. The down payment, credit scores, monthly obligation, »
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We all have a general idea of what credit is, but not many people actually know what determines it. First, you have to really understand credit. So, what exactly is it? Credit is all based on borrowing money- it is your reputation as a borrower of that money. It determines »
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THE VA RENOVATION LOAN Now You Can Renovate Your Home with the Benefits of VA Lending (Purchase or Refinance) Are you interested in buying a home that needs some TLC? If so, the VA renovation program could be the solution for you. The VA Renovation program helps the people who serve »
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Its a pretty dreary, rainy day here in Virginia Beach. How about a couple tips to bring your own sunshine on a cloudy day? Everyone needs a little pick me up, but being able to do it on your own shouldn’t be overlooked! Here are a few simple ways to »
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We know home buying can be intimidating, especially if it is your first time. A home is a lifetime investment, which is a big deal! But don’t worry, were here to help. We compiled a list of Do’s and Don’ts to make it a little less scary and a lot »
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This morning, many rescuers, survivors, and their families gathered around the World Trade Center and the Pentagon to commemorate an event that changed history. Today marks the sixteenth anniversary of the deadliest attack on American soil, although it still feels like yesterday. Every year, September 11th is remembered as a »
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What to Know Before You Buy a Home Buying a home is a very rewarding experience. Working with a mortgage expert along the way makes it even more gratifying. These steps in buying a home make it easy and we are here to help. Step 1 Learn Your Mortgage Options »
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The Benefits of Using Your VA Loan Buy a home with no down payment Ability to use gifts or seller concessions to cover your closing costs Refinance up to 120% of your home’s value Take advantage of your VA loan benefits even if you’ve used them in the past
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