Home Buying Basics

Jackson County, Florida VA Home Loan Info

The 2019 $0 down, VA home loan limit for Holmes County is $484,350. Purchased in 1821 by the United States, Florida became a state in 1845. The Florida Territorial Council created Jackson County in 1822, 23 years prior to statehood. Named after Andrew Jackson, the seventh President of the United States, and the first military […]

FHA Mortgage Info

During the mid-1930’s, economies worldwide had started to recover from the depression, but it was not until the conclusion of World War II that the complete scope of global financial damage had been mitigated. During the height of the Great Depression, few homeowners had the ability to pay off their mortgages. Foreclosed upon homes had […]

How to Handle Home Buyers Remorse

Often considered the root of the American Dream, homeownership is a milestone of adulthood and achievement sought after by most Americans. Despite recent lows in ownership rates, the desire still remains among the public. Contrary to popular belief, even younger Americans view ownership as a staple. In a recent TB Bank survey of 18-34 year […]

First time buyer 101

As of November 2014, first-time home buyers made up the smallest portion of American buyers in almost thirty years. According to the National Association of Realtors®, between June of 2013 and June of 2014, 33 percent of all home purchases were made by first-time buyers. Between June of 2012 and June of 2013, first-time buyers […]

Seven Major Home Buying Mistakes

Congressmen Leonard Boswell once said “The American Dream is one of Success, home ownership, college education for one’s children and a secure job to provide these and other goals.” This dream is multifaceted, but it starts with the place we make our own; the kingdom we build for ourselves. A crucial life stage, owning a […]

Seven Major House Buying Mistakes

In 2004, the American rate of homeownership hit a record high of 69.2 percent. A decade later the rate has dropped to its lowest number in nearly two decades. The housing crisis of 2008 saw inordinate numbers of foreclosures, and with the post-recession economic climate still impacting the market, renting has become the preferred method […]

Seven Major Mistakes Buyers Make When Purchasing a Condo

Purchasing a condominium is a great way for individuals to become homeowners at a cost reduction not possible when buying a house. Viewed by some as a stepping stone towards house ownership, condos are a cheaper, more viable option than single-family properties for a variety of reasons. Benefits such as lower down payments, and shared […]

11 Things NOT to do when buying a home

Every year, roughly six to ten million homes are purchased on average in the United States. The economic impact that home sales have on this country cannot be overstated. Last year, the construction associated with housing purchases equated to $925 billion, equating to 6 percent of the nations economy. This figure is only one segment […]

11 Steps to Home Buying Success

In 2018, over 5 million existing homes were sold; representing a far greater share of the market than the 667,000 new homes that were sold, according to NAR research. The average age of a house purchased in 2018 was 28 years old. First-time buyers made up roughly 33 percent of the housing market, with buyers […]

Interest Only VA Loans

VA Home Loan Centers does not recommend, nor guarantee interest only mortgages. Interest only loans are shorter term adjustable rate mortgages where a borrower is not required to make payment on the principal loan amount. An amortized loan calls for the mortgage holder to make payments for both the interest and the principal every payment period. […]

Are Closing Costs Required?

With a net worth below $7,000 on average, the typical VA (or any) borrower relishes any opportunity to cut down on the fees and expenses associated with purchasing a home. Closing costs are, unfortunately, intertwined with home buying. The income of mortgage professionals is supplemented through closing costs. The ugly truth is that most loans […]

Housing Adaptation Grants

22,676 United States Military veterans are living in this country today. That number continues to increase; some 200,000 active duty personnel make the transition into civilian life yearly, according to the Department of Veterans Affairs. For many, the time of transition is incredibly challenging, veterans are exposed to unemployment, homelessness and PTSD at far greater […]

How long is a VA appraisal valid?

For any property to be eligible for purchase with a VA home loan, a VA appraisal is required prior to purchase to determine that the value of the property matches the value of the loan. The requirements of a VA appraisal include: Being conducted in a timely manner Adhere to the Uniform Standards of Professional […]

VA Loans Are On The Rise

The Department of Veterans Affairs reports that 200,000 service members transition from active duty to civilian every year. It has been estimated that the five year period from 2011-2016 will see more than one million service-members receive their discharge. This figure represents an enormous segment of the population who may benefit from the accessibility of […]

What determines a credit score?

Among the many advantages of the VA home loan program is that the Department of Veterans Affairs has not established a minimum qualifying credit score. Essentially, this means that no specific credit rating is required of borrowers applying for a loan. However, in issuing a loan, individual lenders establish their own underwriting requirements. These requirements […]

Military VA Loan Program

Military service has often been called “the quiet sacrifice” Over the course of our nations’ history, heroic men and women have defended the ideals of our country while asking for little to nothing in return. Congress recognized this selflessness by creating the military VA loan program. This program represents perhaps the most beneficial entitlement available to active […]

Rules For VA Loans

The VA loan is perhaps the most beneficial entitlement available to veterans and active duty service members, despite the obvious advantages provided, a lack of information seems to permeate among the general public in regards to the rules of this loan program. The following information is intended to clarify many potential misconceptions as they pertain […]

FHA 203K rehab loan

Many buyers want to know if they can use their VA benefit to buy a home that will need deep (non-cosmetic) repairs. Because the VA requires a home to be move in ready, deep construction / rehab VA loans are not allowed. However, there is a government insured mortgage program that does allow deep rehab. […]

Residual Income & DTI

Among the multiple underwriting requirements taken into account by your VA lender is residual income. This requirement factors into your eligibility when applying for a home loan because it aids in assessing the probability that you will be able to pay back the loan amount.The Department of Veteran Affairs residual income minimum requirement is generally […]

What is Escrow?

Several types of escrow exist, pertaining to VA home loans; there are three relevant forms of escrow; escrow between the buyer and seller, the process of escrow and an escrow account opened by the loan servicer acting as an intermediary between the lender and homeowner. Although the VA does not require escrow accounts on VA […]

VA HLC SELLER ASSISTANCE

VA Home Loan Centers offers free assistance to homeowners facing foreclosure or short sale. To begin the process, call 888-573-4496. Benefits Of A Grant Benefits Of Selling Your Home The post-recession economy has been hard on many Americans. Despite the economic climate which has been steadily improving post 2008, one in five mortgages is still […]

VA Home Loan Centers Calculators

As one of our country’s Veterans, you’re entitled to participate in the VA Home Loan Program, a special program designed to help Veterans become homeowners. We’ve prepared this important information to help you decide if home ownership is right for you, and how much it might cost. The VA Home Loan Centers has a series […]

Kings County California Military Mortgage Homes for Sale

Based on VA guidelines, the VA limits their loan guarantees to a maximum of $417,000 unless it’s listed higher based on county limits. In the case of Kings County, California, that limit falls within the $417,000 figure. That’s for a $0 down, VA home loan limit. Located in California’s Central Valley, Kings County is a […]

How To Get A VA Loan With Bad Credit

Contrary to popular belief, VA loans for those with bad credit are actually easy to qualify for if 1) you have no outstanding collections, 2) no outstanding judgements, 3) stable income, 4) a median credit score of 620 or higher. This is because VA loans were designed to be a benefit to the borrower. The […]

Benefits to a VA Loan

1. No Down Payment With a VA loan, you could finance the entire purchase price of the home and not have to come up with a down payment. That’s a huge advantage for first-time buyers who may not have the savings required for other types of home loans. 2. You can get help with your […]

Are VA Loans The Best Financing Option?

According to the Census Bureau’s 2013 survey of American Communities, the homeownership rate of households headed by veterans is 79 percent, significantly higher than the rate of civilian headed households which is only 63 percent. The obvious correlation with veteran homeownership trends is the accessibility of the VA home loan program. Recently it was announced […]

5 Most Common Reasons VA Financed Real Estate Transactions Fail To Close

Selling a home can often be one of the most frustrating, and emotionally draining events in a person’s life. So when a buyer is about to withdraw from the sale it can be extremely disappointing, bringing a seller to tears. How can you avoid having a transaction fall out of escrow? The answer is to […]

23 Reasons To Buy and Not To Buy A Home In A Recession

If you are like most people who rent, you may have mixed feelings about buying a home. This is especially true during a recession. But if you do your research and are well informed of the market then you can take advantage of all the pros. These 23 reasons are the pros and cons against […]

Calculate & View Your Amortization Payment Schedule

This calculator will calculate the breakdown of principal and interest payments for each year that you will be paying for the life of the loan. You can also view the monthly breakdowns. This calculator can be used for refinance or purchase payment schedules. The mortgage calculator does not include (nor calculate) property taxes and homeowners […]

Determine How Much Mortgage You Can Afford

This calculation does not include any other fees that might be included with your mortgage payments. The mortgage calculator does include property taxes and homeowners insurance. – The amount you will pay for taxes and insurance will vary by the location of the property. Principal and interest payments are based on a 30 year fixed […]