
I am sure you have heard all the doom and gloom from a million different news reports concerning the lending industry mess, how several loan programs once available are no longer, how zero down loan programs are almost non-existent and how hard it is right now if you have little to zero money available for a down payment.
But wait; are you a military member or a veteran? If you are the news isn't as bad. With your VA Guaranteed Home Loan benefit you can still obtain a loan with no down payment and a fixed interest rate that is as good as or better than a conventional mortgage rate. This is the time for a VA Loan! What a great benefit to those of you that have served our country!
What is a VA Guaranteed Home Loan?
Many have the misconception that the military is the organization loaning the money. No they are not. Your VA Guaranteed Home Loan will be made by a private lender, such as your bank or a mortgage company of your choosing that has VA lending approval.
The guaranty means the lender is protected if you fail to repay the loan. This is also why you will not have to pay private mortgage insurance (PMI) for a zero down loan (if you could find one). Normally a lender would require a down payment and/or PMI to obtain a loan, since the VA Home Loan has a guaranty which replaces these you will be able to obtain your loan without, but with the same financial terms as if you had made a down payment. The risk is removed for the lender when the VA gives them that guaranty.
Of course you still must meet income and debt requirements, your credit reports will be used and if there are items in your history that are derogatory you can be denied a loan even though you have your Certificate of Eligibility. The VA cannot demand a lender make a loan to you that would violate their lending practices.
Lenders also must comply with the VA rules and policies when it comes to income and credit standards. Just having the benefit is not enough, you must be credit worthy.
If a lender is unwilling to approve you for a loan the only thing the VA can do is suggest that you try other lenders.
It could just be the perfect time for you to purchase a home with your VA benefits. Interest rates are at all time lows and prices in the Kitsap area are amazing. There are some awesome deals out there. Now, remember that the housing market isn't moving as fast as it was years past, so you must be able to stay in this home longer than that 3 yeas. So, if you have a plan to be here longer you just might want to jump at these low home prices.
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About the Author...
Jo began her real estate career back in 1994 and soon found out that she loved selling real estate and that she was really good at it! Lots of people sell real estate, but not everyone is good at it. Jo brings to her clients the commitment to work hard and have fun along the way. As Jo continues to learn the technology of today to be on the cutting edge of multimedia she takes pride in her ability to keep her trademark "old-fashioned" customer service alive. If you are looking to sell or purchase a home in Kitsap County call her office today. You can also find out more about the area by visiting her blog www.WestSoundLive.com or her web sites www.HomeFrontRealtyOnline.com
DISCLOSURE OF MATERIAL CONNECTION: http://cmp.ly/0

The Kitsap County home for sale inventory is down 25.4% from the same time in 2008. That is the largest drop in inventory in the Puget Sound area. So, with inventory down is it still a buyer's market? 
I am sure you have heard all the doom and gloom from a million different news reports concerning the lending industry mess, how several loan programs once available are no longer, how zero down loan programs are almost non-existent and how hard it is right now if you have little to zero money available for a down payment.
Bremerton WA - Naval Base Kitsap Military Relocation. I have been doing a lot of research the last couple of months on our own PCS (permanent change of station) and while speaking with Jay this morning a light went on. Maybe I will blog about it. I did write several blog articles last year during the Military Relocation contest and even turned that month long series into a blog of its own -
Over the last 5 years we saw the active duty member feel comfortable purchasing even with a PCS due in a short three years because of the escalation of value in several markets. With that now gone what does an active duty member do? The decision to purchase is tougher today than it was.
LOCATION


were cross the country - West Coast to East Coast, then East Coast to West Coast, then from the Mojave desert of California to the subzero terrain of Alaska. I am now "home" and will be able to stay here for several years.
