Arizona Mortgage Team

Arizona Mortgage Rates. Refinance FHA, VA and Jumbo Mortgage Loans.

  • Loan Programs
    • FHA Loans
      • FHA 203k Loan
      • FHA Streamline Refinance
      • FHA Kiddie Condo Loan
    • VA Loans
    • USDA Loans
    • HomePath Loans
    • Interest Only Mortgage Loans
    • Refinancing
    • Reverse Mortgages
      • Reverse Mortgage Quote
  • Insurance
    • Arizona Car Insurance
    • Arizona Homeowner Insurance
    • Arizona Life Insurance
    • Arizona Renters Insurance
  • Press
  • Blog

VA Loans Can’t Move the Market But They Can Help A Vet Move

April 20, 2010

Vets who qualify for a VA Loan program have a home buying trump card that those who do not have access to this mortgage program when it comes to buying a home and being a first time home buyer.

According to a recent survey conducted by BBVA Compass, first time home buyers who have purchased a home within the past 12 months reported the following:

  • 51% indicated that the monthly expense of owning a home was more than they anticipated,
  • 87% indicated that they changed their lifestyle due to the increased unexpected expenditures, and
  • nearly 33% of those who experienced unexpected expenditures used a combination of cash or credit as payment.

With these three characteristics coming out of this study regarding first time home buyers, it seems to make sense that more Vets should look to take advantage of the VA loan than ever before.

Just about any seasoned loan officer can offer that the three of the top home buying hurdles in the current home buying market are:

  • I want my credit to improve,
  • I want to pay off some debt, and/or
  • I need to save some money for my down payment.

If you are Vet and having these conversations about home buying it is time for you to get in front of a VA Loan Specialist. A VA Loan Specialist who knows what they are doing will let you know about the VA Loan Benefits combat these three hurdles to make the VA Loan one of the best mortgage programs going today.

Benefits of a VA Loan:

  1. 100% financing – the only loan program in the US that still does not require any down payment.
  2. You can get a VA loan if you have FICO scores down to around 620 as long as your last 12 months of credit history is good and you have satisfactory explanations for any problems you may have had.
  3. VA loans allow a seller to contribute to the Vet buyer in a way that the contributed funds can be used to pay down some of the Vets debt at settlement.

With these three benefits, among many others, Vets who qualify for a VA Loan should consider buying a home. While the number of folks eligible for VA Loans isn’t likely going to change the real estate market any time soon, the VA Loan can sure help a Vet move into a home that they deserve.

Filed Under: VA loans Tagged With: Arizona VA Loans, AZ VA Loan

Recent Items

  • How Does a VA Streamline Work?
  • Can you Use a Mortgage Assumption after a Divorce?
  • What are the Major USDA Streamline Guidelines?
  • How is the USDA Monthly Guarantee Fee Calculated?
  • How to Purchase USDA Foreclosed Homes?

Latest News

  • How Does a VA Streamline Work?
  • Can you Use a Mortgage Assumption after a Divorce?
  • What are the Major USDA Streamline Guidelines?
  • How is the USDA Monthly Guarantee Fee Calculated?
  • How to Purchase USDA Foreclosed Homes?

Search

IMPORTANT MORTGAGE DISCLOSURES:

When inquiring about a mortgage on this site, this is not a mortgage application. Upon the completion of your inquiry, we will work hard to match you with a lender who may assist you with a mortgage application and provide mortgage product eligibility requirements for your individual situation.

Any mortgage product that a lender may offer you will carry fees or costs including closing costs, origination points, and/or refinancing fees. In many instances, fees or costs can amount to several thousand dollars and can be due upon the origination of the mortgage credit product.

When applying for a mortgage credit product, lenders will commonly require you to provide a valid social security number and submit to a credit check . Consumers who do not have the minimum acceptable credit required by the lender are unlikely to be approved for mortgage refinancing.

Minimum credit ratings may vary according to lender and mortgage product. In the event that you do not qualify for a credit rating based on the required minimum credit rating, a lender may or may not introduce you to a credit counseling service or credit improvement company who may or may not be able to assist you with improving your credit for a fee.

Copyright © Mortgage.info is not a government agency or a lender. Not affiliated with HUD, FHA, VA, FNMA or GNMA. We work hard to match you with local lenders for the mortgage you inquire about. This is not an offer to lend and we are not affiliated with your current mortgage servicer.

Contact Us | Terms of Use | Privacy Policy

Buy Mortgage Leads

Mortgage.info

NMLS ID #1237615 | AZMB #0928735

8123 South Interport Blvd. Suite A, Englewood, CO 80112

CLICK TO SEE TODAY'S RATES

Contact Us