Beyond the barracks Understanding the true benefits of VA mortgages
Many people don’t know it, but the VA home loan program is one of the best mortgage options out there. Think about it. No down payment. Some of the lowest interest rates possible. No pre-payment penalties. No private mortgage insurance. Compatible with the military’s non-taxable basic housing allowance. It’s even a great program for investing. Active and retired military can buy up to a owner-occupied, four-plex with zero down payment. Yeah, but what’s the downside? From a financing standpoint, it’s a no-brainer for military personnel. However, many military professionals shy away from home ownership due to the instability of relocation or deployment. Certainly a valid concern for active military, buying with a resale strategy in mind can be a great way to build equity while living in a home you love—instead of settling for military housing. A smart resale strategy includes buying a home in a price point popular for first-time homebuyers. Something with at least three bedrooms, two bathrooms and 1,500 square feet. The first-time homebuyer price point depends on your neighborhood, but your Legacy VA loan specialist would be happy to help you analyze the pricing options and formulate a buying strategy with resale in mind. Buying a duplex or four-plex can also provide added rental income and cover your monthly mortgage payment if you’re relocated.
Did you know? If you already have a VA home loan, you’re entitled to lower your monthly payment and interest rate with the VA Interest Rate Reduction program. Contact us to find out more.
As a disabled Veteran and VA Loan Specialist I am committed to helping you maximize your VA eligibility and helping you and your family get the service you deserve. Call me today and allow my team to serve you as you have served us.
Shane McGraw, VA loan Specialist
Author:Brandi Rademacher Phone: 253-224-6663 Dated: July 27th 2012 Views: 4,802 About Brandi: Brandi Rademacher with RE/MAX Realty South is the Professional Realtor who other Realtors come to fo...
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Brandi Rademacher with RE/MAX Realty South is the Professional Realtor who other Realtors come to for advice. With the experience of hundreds of successful transactions to her name, she has the knowledge and experience to make even the most difficult transactions appear to her clients as typical.
Brandi has been a Realtor since 2004, and has since expanded her expertise by successfully completing her ABR (Accredited Buyers Representative), ASR (Accredited Seller Representative), CDPE (Certified Distressed Property Expert) and E-PRO. These designations mean that Brandi can expertly represent both Buyers and Sellers. The CDPE designation means Brandi is one of a select few in the state who has trained extensively to u nderstand the options, solutions and effective methods for dealing with homeowners dealing with hardships, short sales, and foreclosures.
Brandi has a full team of professionals to serve all her clients needs in both residential and commercial transactions. She has an office manager, financial lender, property inspector, and a virtual assistant, all of who provide the client with a “one stop shopping” experience.
“My team and I are responsible for our clients and their needs. They place a huge trust in my team, so I strive diligently for perfection on a daily basis”.
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"Brandi made every aspect of our home search and subsequent purchase easier. Moving from out of state is stressful, but she took care of us, always returned phone calls and emails, advocated for our interests. I don't know what we would have done without her."