As 2023 kicks off, the question many would-be home buyers are asking is will mortgage rates and home prices shift in their favor? So the really important question is when will housing become a buyer’s market? The answer is “now.” if you can be ready to strike while the iron is hot.
The housing market trends for February 2023 indicate that this year is going to be a better year for buyers than the previous year. That wouldn’t be hard. During the pandemic we saw skyrocketing home price increases, bidding wars and offers on houses that seemed hard to believe. We need to calm down a bit and get smart about the real estate market. That is, if, and only if, the interest rates cut us some slack.
The VA cash-out refinance program has some good news for you. You can get cash by refinancing your home through the VA loan system. The better news is that you can do that even if your current mortgage is not a VA loan – as long as you meet the VA eligibility standards of being a veteran, an armed forces service member, or the surviving spouse of an active duty or former service member.
The Georgia Police K9 Foundation is dedicated to providing support and equipment to help K9 officers in Georgia. The Homes for Heroes Foundation awarded the organization a $10,000 hero grant to assist in their mission to support K9 agencies, their K9s and handlers, to assure they are highly trained and equipped to protect and serve their communities; and also receive the support they need in retirement.
Welcome to the Housing Market Trends January 2023 monthly update from Homes for Heroes. Since it’s the beginning of the year, you can probably guess that it’s Prediction Time. Experts love prediction time because…well, they just do. It gives them stuff to talk about when they try to extrapolate the future from what we saw in this last year. And frankly, real estate professionals saw a lot last year.
If you are investigating the VA loan pre approval process, you’re ahead of the game. Pre approval has become a vital part of finding and purchasing a home, especially in a competitive real estate market. It shows your buyers that you are ready, you’ve done your homework (no pun intended), and any offer you make on a property is legit.
In a world where most mortgages are not assumable, you might wonder are VA loans assumable? The short answer is yes, they are. That puts you, as the seller with a VA loan, in a unique position. Giving the buyer the ability to assume your mortgage and buy your house in a climate of rising interest rates is a significant benefit. However, assuming a mortgage can get a little complicated, especially because you want to be able to protect your VA loan benefit.
If you are looking to learn about VA loan inspection requirements, you won’t find any. Truth be told, the VA loan system does not require home inspections before deciding whether you are eligible or not. They do, however, require appraisals, but that is a different kettle of fish. We will explain that later. What’s important to recognize is that the home inspection protects you, veterans or active-duty military members, as you hunt for a home. So don’t skip this step.
If you are wondering about getting a VA loan with bad credit, you’re not alone. It is a common question asked by our veterans and active-duty service members. Bad credit can stop you in your tracks and make you think there’s no point in even looking for a house. Don’t give up. The VA loan system makes allowances for bad credit. What’s more, the loan policies of the Veterans Administration are designed to help you, the military professional, find ways to make a VA loan work for you.
When you ask “how many VA loans can you have?”, you are actually asking two questions. The VA loan program has a lot of moving parts, and most of them are aimed at helping eligible veterans, military personnel and active-duty service members find and buy a home. If every home buying situation were the same, the VA loan system could build a one-size-fits-all program that delivers the same guarantees to every military professional. But since we are talking about real estate, mortgages, loans, contracts and all the stuff that goes along with the world of real estate, it gets a little more complicated.