Government Loan Broker

Jeffrey Scharf, Everybody’s Business: Why continue failed housing policies tanked economy?
The latest Case-Shiller housing statistics are out. These statistics, which are based on like-for-like residential resales throughout 20 nationwide metropolitan areas, show that prices are back to 2003 levels.

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Greek protesters confront government on economy
Greece’s prime minister promised Saturday to lower corporate taxes to help revive the debt-plagued country’s shrinking economy, while thousands of protesters marched — mostly peacefully — against the government’s harsh austerity measures. Prime minister – Government – Austerity – History – Canada

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International Forecaster September 2010 (#1) – Gold, Silver, Economy + More
The following are some snippets from the most recent issue of the International Forecaster. For the full 33 page issue, please see subscription information below.

Read more on GoldSeek.com

When economy slows down, Federal Reserve tries to encourage growth by lowering rates. Therefore, when you see yields bonds go down and interest rates on mortgages drop, it is a sure sign of recession. The year of 2009, besides bringing record unemployment and negative economic growth, also brought record low mortgage rates, the lowest since 1971. Many borrowers, including VA borrowers, want to know whether the rates have hit the bottom. With the worst housing market since the Great Depression, one may guess that the rates would continue to drop, as U.S. Government would try to make effort to revive the depressed market. However, it is rather questionable that the rates would pass the 4.5% mark. This way or another, VA borrowers have several advantages over other borrowers.

VA Borrowers Have Unparallel Advantages

Non-VA borrowers see many factors affect their mortgage rates, such as credit score, household income, and so forth. VA borrowers, on the contrary, are protected against the impact of such factors, as they get low rates, as long as they meet relaxed criteria for VA loans. Even with less-than-perfect credit scores VA borrowers are able to enjoy lower rates, and are able to bring them further down by paying discount points upfront, like regular borrowers would. Therefore, it is a win-win situation for VA borrowers. Another important advantage that VA borrowers have is no need for large down payments that other borrowers have to come up with in tight economy and dropping housing market. In fact, most do not have to come up with any down payment at all, as most VA loans do not require any.

VA Loan Terms Are Better Than Ever

Therefore, anticipation of rates dropping further should not be a decisive factor for VA borrowers whether to get a loan now or wait a bit. With excellent features that VA loans are packed with, such as no money down and 100% refinancing, the difference of a couple tenths of a point is not as important. VA loans are perfect for eligible veterans, and are an excellent choice no matter how good or bad the economy is. VA loans feature many valuable benefits, making them better than traditional loans, to include the following:

· No need for down payment;

· 100% refinancing of existing mortgages;

· No PMI required;

· No penalties for prepayment;

· Generous loan amounts of up to $417,000, and even higher in some states;

· Streamline program eligibility.

No Need to Worry About Rates with Refinancing Options

Another important factor veterans should consider is that Streamline program allows refinancing at a lower rate any time the rates go down. Refinancing is quick and easy, as many bureaucratic procedures are waived, and allows for further money saving. If you are eligible for a VA loan and are looking to purchase or refinance, it is time to act while the rates are at historic minimum. If your concern is that rates may go down in the nearest future, then you do not need to worry, as you may be able to refinance any time with most appraisal and qualifying requirements waived under Streamline refinance program. All you need to show is the history of making timely mortgage payments.

Mission: Can a Military Vet couple Get a VA Loan in the New Economy?
<p>Up until this point I have typically lived with friends to keep the cost of living under control. In general my boyfriend had very little bills as well because he was on active duty in the military. Now both of us are in our thirties and ready to live together and get something nice started. Hopefully we can find something nice perfect for the two of us. We’re excited about this whole thing!</p>
<p>In general, my biggest fear is that he and I won’t get approved or what if we can’t find the right loan. We are not going for something ultra extravagant just something that the two of us can use to be comfortable. After all he has served in the wars and I have always been there for him it is time we really do something now that he is finally safe for good.</p>
<p>Another big question: Are their any military benefits for first time homebuyers who have decent credit, but not necessarily 60,000 dollars down on a new home?</p>
<p>With all the work that he has done for our country, and all the time I have spent waiting for him to be with me, I am sure Uncle Sam can accommodate our situation. In the meantime we are going to have some discussions with some mutual friends so that we can find out which type of loan will best fit us. We are at a point in our lives that either and adjustable or fixed rate loan can significantly impact us. We will have to weigh the pros and cons and come up with the right decision that fits our new lives together.</p>
<p>Since we are both young, an adjustable loan is tempting, however we are going to be bold and settle into a fixed loan. By getting a fixed loan we will know exactly how much that we owe every month, and can easily monitor and maximize its effectiveness over time. He and I really love each other and we need some immediate stability. A fixed loan can do this for us.</p>
<p>Going through this whole mortgage process is kind of like riding a never-ending roller coaster with a blindfold. Some points in time, your experience is great, other times it is bad, but you never know where you will go or if you will stay on track. Our friends suggested that we go online and do some additional research on VA loans and see if there are any details that we did not consider about applying for mortgages. We discovered that a lot of sites are just out to see you but only a few sites are really there to inform and help the user along the way. Both mortgageloan.com, and lender411.com are sites geared to help the users and met our needs perfectly.</p>
<p>The reason we mention MortgageLoan.com and Lender411.com out of all the websites that are available on mortgage information is the fact that they not only confirmed what our friends had told us but delivered us some additional information and interaction that we were looking for on VA loans. Only time will tell which website will be the magic bullet in the mortgage success for both of us.  Hopefully this whole process will resolve itself and we will get more than just some hassles in the form of pre-approvals that I’ve read about, that are nothing but dead ends.</p>
<p>We are finally ready to start a life together. Let’s make it work!</p>
Krista Scruggs is an article contributor for Lender411.com.  She is writing on behalf of Jack Reyes and Donna Clark, are concerned consumers just trying to figure things out. So far, as a test, we’re looking to qualify for the <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=”http://www.lender411.com/mortgage/Seattle-Washington/”>best Seattle Mortgage Rates</a> for a <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=”http://www.lender411.com/mortgage/Washington/”>Washington  home loan mortgage</a> or perhaps a VA loan.