Archive for the ‘VA Loans’ Category

Using a Utah VA loan to buy a home in Utah

Monday, May 10th, 2010

The VA loan is an excellent option for a veteran looking to buy a home. There are quite a few benefits involved, making it a much more convenient choice compared to many other types of loans. They tend to have more flexibility, are more easily attainable because more lenders offer them, and it is easier for a veteran to qualify.

The VA loan is specific to US Armed Service Veterans, who have served for at least 90 days and were not “dishonorably discharged”. As long as this requirement is fulfilled, the program offers a guarantee that protects the lender if the borrower defaults, through the Veteran’s Administration. This replaces the guarantee that is normally provided by the down payment. This provides financing to veterans where private financing may not be available.

Generally, Utah VA loans allow the veteran to qualify for a larger loan amount than a conventional loan, have lower rates, and do not call for any money down. In Utah, the maximum VA loan amount with zero money down on the loan for most lenders is $417,000, with the exception of Salt Lake, Toole, and Summit Counties at $516,250. However specific lenders will allow higher loan amounts to fund, up to a maximum of $1,000.000. Rates follow the market and may lower if the veteran does choose to make the optional down payment.

The government limits the amount that can be charged in closing costs, origination fees, and appraisal fees on a VA loan. There are no mortgage insurance premiums required. In fact, lenders are actually prohibited from requiring one. This is because of the guarantee that is put on the loan. Also, if the veteran has any kind of service disability, they have the ability to get their funding fees waived. Credit regulations on a VA loan are much less strict. The VA looks for a clear 12 month credit history; however the credit score does not affect your rate.

If you are a veteran and can qualify for this option, the VA loan is definitely one to take into consideration when buying a home! Utah has many great opportunities for this and the loan amounts available are well within the pricing of homes for sale in the state, so there are many lenders out there ready to fund your loan. Don’t miss out on all of the advantages offered by this program!

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Why Having a Security Alarm in Your Home is Important for Military Families and Veterans

Thursday, February 11th, 2010

Whether you are a military home owner or veteran that lives in your own home or renting a condo or apartment, having it protected and safe should be a top concern. One of the main reasons, or course, is because it provides security and privacy to you, those you love, and all of the valuables you own.

It is frightening to think of someone breaking in your home when you are gone, but even more so, having a burglar waltz through your front door when you or a loved one is home!  Especially since statistics show that more than 1 million burglaries and attempted burglaries happen each year. One of the best ways to prevent this is to have a security alarm installed in your home.

When security systems first started being used, the percent of break-ins have gone down—at least with the homes that have security alarms.  This proves one thing for sure: not only can alarms help catch thieves, but when they see your home has one, they will think twice about trying to enter. They have two choices: get caught or move on. Having an alarm installed is so important—it pays for itself over and over. It’s important to have a reliable one where every entrance is protected and will alert the police if it goes off.

You need to think again if you believe you are safe enough just by living in a great neighborhood with exceptional police officers. If you think you are safe because your home doesn’t have a lot of value, nor do your possessions, keep in mind if thieves have an easy way to get it, they can be tempted by less valuable items.  There are many expert thieves in any given city/town, and when one breaks in, they can be hard for the police to track down.  

Having a security alarm in your home is vital to making it a safer haven. The presence of one alone acts as a deterrent to thieves! It gives you peace of mind, leaving you with less stress for you and your family to worry about

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