A VA loan is a type of mortgage backed by the U.S. Department of Veterans Affairs and is available to current service members, veterans and eligible surviving spouses. VA loans offer several advantages, including no private mortgage insurance (PMI) and no down payment required. When qualifying for a VA purchase or refinance, you need to meet certain minimum residual income requirements based on your requested loan amount, where you will be buying, and how many people will live in the home. Here’s how it works:
Read More “Understanding Residual Income for VA Loans”Author: Amy Malloy
Important Tips To Avoid Wire Transfer Fraud
As you work through the homebuying and loan application process, be aware that large financial transactions, such as a home purchase, can make you a target for fraud. It’s important to know how to protect yourself against identity theft and other types of fraud. Scammers may pose as third-party companies and attempt to appear as though they are involved with your transaction. Here are some recommendations to keep your information safe when transferring funds for a large real estate purchase:
Read More “Important Tips To Avoid Wire Transfer Fraud”What International Buyers Need to Know About U.S. Real Estate
What Does Stock Market Volatility Mean for the Housing Market?
Is a real estate bubble to blame for sudden drops in the stock market? Does stock market volatility indicate that a housing crash and recession are imminent? Probably not. Although there are some correlations between stock market activity and the health of the housing market, there isn’t a direct, consistent cause and effect relationship between the two. There are always other factors at work that help to complete the big picture. Here’s some insight into how rates, the housing market and the stock market are intertwined, but still need to be considered separately.
Read More “What Does Stock Market Volatility Mean for the Housing Market?”Appreciation – Understanding A Home’s Value
Paperwork Homeowners Need To Prepare For Tax Time
Taxes. No one likes them but everyone pays them. And the beginning of a new year means it’s time once again to gather documents and receipts in preparation for the April tax filing deadline! For homeowners this means being prepared with some specific documents in addition to the usual tax statements from employers, banks and stockbrokers. Keep an eye out for the items below in your mailbox (or email inbox if you opted for electronic statements) and set them aside for your tax preparer!
Read More “Paperwork Homeowners Need To Prepare For Tax Time”DIY Home Improvement Safety Tips
One of the best things about owning a house, is making it your own – making it your home. This often means upgrading, repairing and doing home improvements with your own two hands. Doing it on your own has a strong appeal that has helped make Do It Yourself (DIY) a worldwide multi-billion dollar industry! In addition to potential cost savings, doing it yourself brings with it a sense of creativity, pride and satisfaction. But, before you break out the tools, make sure safety is part of your DIY plan!
Read More “DIY Home Improvement Safety Tips”