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VA Loan / Veteran Mortgage News
SPONSOR:
Pioneer Military Loans offers responsible military lending solutions that can help
service members avoid or break the debt cycle. Pioneer serves active-duty and career-retired military service members,
as well as Department of Defense employees.
FEBRUARY 2003
Low Rates Keep Helping American Veteran Consumers
America's economy currently is expanding slowly, which should keep mortgage rates low for the
immediate future. Stronger growth later this year is expected to push rates up. Economic growth
went from barely above zero in 2001 to around 2.5 percent last year. Some economists predict
growth will top three percent in 2003. One reason is that business spending is picking up.
With time those investments will require companies to hire additional workers.
Rates have dropped tremendously in recent years. Today, American veteran consumers are receiving some
of the best financing values in almost four decades when they buy or refinance a home. Check with us
soon - today's low rates may help you achieve some goals you didn't think were possible just a
few months ago!
Here's Why We Refinance VA Home Loans
Many veterans have refinanced several times as rates have fallen to record lows over the past
few years. In addition to improving their rate (many through the simplified
VA interest rate reduction special)
they can also keep reaching new financial goals in the process. Here's an example:
- Your first refinance lowers your rate, and gives you the opportunity to take cash out to pay off expensive, non-deductible credit card bills.
- A second refi cuts your monthly payments again. More equity may be taken out as cash to fund home improvements, add to retirement investments, or pay for children's college educations.
- Refinancing another time allows you to move from a 30-year mortgage into a lower-rate 15-year loan. Although the monthly payments are higher, you build equity much faster with the shorter mortgage.
Reviewing your mortgage on a regular basis is just as important as going over your
investments or tax planning. Make sure that you're advancing towards your financial goals
before taking a step such as refinancing your home loan. We'll go over your options with you,
answer your questions, and work with your tax and investment advisors to help you achieve
important objectives.
Should You Move or Improve?
Deciding whether to improve your existing home or move up is an important question many homeowners
eventually face. Below are questions to consider before acting:
- How important is it to stay put? If you love your current neighborhood or school district, you should think twice before pulling up stakes.
- Can I happily live with my home torn apart for months? Don't underestimate the turmoil a major remodeling project creates.
- What are the costs of buying a larger home, compared to renovating my current house? Find out what a suitable new home would cost.
- How much of my improvement cost will I recoup after selling? Most remodeling projects won't pay for themselves when you sell your home.
- When do I plan on moving? If you know that you'll enjoy your renovated home for years, then it can make sense to pay for the improvements.
Count on our assistance, no matter if you choose to move up or remodel your existing home.
We'll always provide financing that's right for your needs.
Homeownership and Today's Investment Opportunities
Many investors are concerned, after watching stock prices fall for three years in a row.
Unfortunately, money market funds also are providing very low yields today. And bonds aren't
expected to perform well in the future, since interest rates probably won't fall much further.
For these reasons more investors are seeing real estate as a smart place to put their money.
Housing economists expect average real estate values to go up around four percent in 2003. Here
are some approaches to consider:
- Purchase an income property in order to gain tax breaks and ongoing appreciation. Investment
property owners gain depreciation deductions, in addition to the usual mortgage interest
and property tax deductions.
If you have a child going to college, you can buy a house for him or her, and then rent out
a portion of the home to other students. You'll have to pay for your child's housing anyway -
and purchasing a home lets you enjoy extra benefits.
- Buy a second home in a resort area. Purchasing in a popular area means you should be able to
rent out the property when you're not using it.
- Take advantage of today's low rates to move up to your dream home. You can lock in great
financing terms now, and enjoy your new house for years.
You may prefer to find an older, classic home that needs fixing up. Or you may choose to work
with an architect to design a new house. We'll help you turn your idea into reality, no matter what
your wishes are.
The Big Difference is VALoans.com
It's crucial to work with someone you trust when buying a home, or refinancing an
existing mortgage. You'll always benefit from associating with a knowledgeable loan officer
who acts in your best interest.
We look forward to living up to your trust in us. Whenever someone you know mentions they'll be
moving or refinancing soon, simply make a copy of our newsletter and give it to them. Having the right
financing is just as important as finding a home you love. Count on us to keep delivering
mortgage services that fit into the lifestyle needs of both you, and your friends.
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