Puget Sound Real Estate: Washington: Bremerton: Jackson Park

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.  I will be writing an article about your credit  - good, bad or ugly in a few days. You don't have to have that perfect fico score, so check back. 

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.  Where else can a person get a 100% home loan these days?!

Posts of Interest

First Time Homebuyer

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• It's Official - 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Individual Area Real Estate Market Stats

• Port Orchard Real Estate | February Homes SOLD
• Port Orchard Real Estate | March Homes SOLD
• Port Orchard Real Estate | April Homes SOLD
• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD
• Bremerton Real Estate | April Homes SOLD

Kitsap Area Real Estate Market Stats

• Kitsap County Homes SOLD 2008 VS 2009 Year to date
• Kitsap County Real Estate Market Data 2007 vs 2008
• Bremerton Real Estate Market Data 2007 vs 2008
• Silverdale Real Estate Market Data 2007 vs 2008
• Port Orchard Real Estate Market Data 2007 vs 2008

Kitsap Real Estate FYI

• Kitsap County | Pending Sales | What a week
• Bremerton Real Estate | New Construction Homes
• Kitsap County Home Buyer's | Closing Costs Paid by Seller

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

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Copyright © 2008 - 2012 Homefront Realty

Washington State Required Disclosures

"Equal Housing Opportunity"

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I am sure as a military member you have heard this phrase about a million times in the last several years. Interest rates have been so low for so long that home ownership has been easier than ever before for anyone and this especially includes the military population, who until recently didn't feel like they could or should purchase properties. Never before has the military population owned a higher percentage of homes.

The days of base living has changed drastically. With most installations switching over to PPV the climate has changed. The thought of waiting until retirement to purchase a home has become a scary thought with the way housing prices in most areas have skyrocketed.

So as a military member do you purchase a home?

It is a very complicated process which needs some investigation and education before making a decision. You should ask yourself some questions like these at the minimum.

• Do I have upfront money to buy a home?
• Can I get financing?
• Is my tour of duty going to be longer than 2 years before the next PCS?
• Will I have the opportunity to do another tour here or will I have an opportunity to come back?
• If I had to be a long distant landlord would I have the time or recourses?
• Could I afford a property manager?
• What if I had to pay the mortgage for 2-3 months while the home is waiting for new renters?

So after you have considered all the possibilities, searched the internet for information and asked around your shop. Are you ready to buy?

Being a military spouse and real estate professional it was still a decision that I wavered back and forth. After sitting down and writing out all the pros and cons my husband and I decided to purchase. My husband is in the Untied States Navy and at the time we decided to purchase we were looking at the second tour to Iraq, at living in southern California and at a PCS 30 days after his re-deployment. We didn't know where we were going, how long we would be there or how the finance industry would view our dreams.

My husband left for Iraq and I knew that I wanted our next PCS to be a "door to door". I started to look at houses in the Bremerton, Washington area over the internet. Having my license but not practicing in the state of Washington I had to find a real estate agent too. I was lucky because I had several contacts from my days of selling homes in Washington. On a trip up to Washington I viewed a property and made an offer with my POA. My husband just so happen to call while I was in the process. I told him what I was doing and promised to email pictures when I arrived back home. I can tell you that it was not a totally smooth process, but I can also tell you that

I am writing this article in the home office of the house that we purchased so, all in all a happy ending. Well, almost. My husband didn't receive orders to the Bremerton area. He received orders to ALASKA!!! We are now building equity in a home we will retire to in several years. I live here and he lives there and we are Continental frequent flyers. What's that phrase "Semper Gumby"? Yes we are! I am back to the profession I love, he loves Alaska and we have the house we plan to retire in or so we think at the moment.

Do you own your home? Are you afraid of having to sell in 3, 4 or 5 years? If you are smart and do the right things then homeownership for a military member should not be scary!!!!

Be sure to contact me for my Military Rebate Program - there are huge discounts for buyers at closing. It's my way of giving back to those that have or are serving.

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

View all posts by Jo Soss →

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Copyright © 2008 - 2012 Homefront Realty

Washington State Required Disclosures

"Equal Housing Opportunity"

---

With the lure of high salaries in the private sector the Pentagon had to do some "wheeling and dealing". The Pentagon has paid out more that $100 Million - yes I said MILLION in bonuses to veteran Green Bret and Navy SEALS alone. On every military chat board you see the post about bonuses. So what to do with all that money?

We have never had to answer that question in our household, we just say "CHOOSE YOUR RATE, CHOOSE YOUR FATE" and laugh a little. In my husbands 12 years he has never received one.

But for those that do what better an investment than

REAL ESTATE!!!

• How much did you get for your bonus?
• What was the tax rate withheld?
• Is this your first bonus?
• Did you receive an enlistment bonus too

This is like JACKPOT CITY - BABY!! Remember the bonus train will not continue to leave the station. You want to make sure that you have something of importance for all of your hard work and service. Contact a real estate expert NOW!! Find out what an investment in real estate can mean for your future.

Do you own your home? Are you afraid of having to sell in 3, 4 or 5 years? If you are smart and do the right things then homeownership for a military member should not be scary!!!!

I offer a huge military discount for both buyers and sellers. So contact me and I will send you the link to my Military Rebate section. It is my way of giving back.

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

View all posts by Jo Soss →

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Copyright © 2008 - 2012 Homefront Realty

Washington State Required Disclosures

"Equal Housing Opportunity"

---

LEAVING ON A JET PLANE......

That's the song that I sing when my husband heads out on a deployment. Yep, he is in the Navy but I have never had the pleasure of being involved with a Navy command. We have spent all of our years together hanging out with the Marine Corps.

Deployment can be a very difficult time in a military family's life so; we have to find the positives. Saving all the deployment pay is one! The first tour to Iraq that my husband went on was my first deployment experience as a military spouse. I knew a little about the extra pays and was eager to learn more. I did pay attention at the Deployment Brief. I took all the pamphlets and brochures I could carry. I remember the LtCol standing at the front of the meeting room leaning on the overhead projector and emphasizing about our budgets. He had projected up on the screen the extra pays that our spouses were going to receive.

• Hostile Fire Pay (HFP)/Imminent Danger Pay (IDP). $225.00 a month (HFP/IDP)
• Family Separation Allowance $250.00 (FSH OR FSA)
• Hardship Duty Pay-Location $100.00(HDP-L). Indicated as Save Pay on the Leave and Earnings Statement (LES)
• Depending on the Command and the Branch of Service the service member usually gets to keep their BAS - Basic Allowance for Subsistence . $265.00

That is a TON of extra pay!! But the bottom line gets even better because all the pay while deployed out side the country in several tax free zones is just that TAX FREE!!!!!

Now that does add up. Depending on the length of deployment you could end up with a pretty nice chuck of change for the purchase of a house, condo or vacant land. Remember how important it is for Military members to own real estate!!

Upon return service members usually receive per diem pay too - that rounds around $3.50 per day and adds up too!!

So add this all together and you could be saving around $800,00 - $1000.00 per month. Multiply that buy the normal deployment of 7 months - oh except for the Army and IA's which is between 12-15 months and that is a huge amount to invest in your future.

Do you own your home? Are you afraid of having to sell in 3, 4 or 5 years? If you are smart and do the right things then homeownership for a military member should not be scary!!!!

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

View all posts by Jo Soss →

Subscribe

Copyright © 2008 - 2012 Homefront Realty

Washington State Required Disclosures

"Equal Housing Opportunity"

---

The Puget Sound Military Guide has been out to the NEX, MCX, PX and well all the X's over the last couple of weeks. I picked mine up at Naval Base Kitsap - Bremerton. Inside you will find a ton of information about all of the bases in the Puget Sound area which includes maps and local tourist type information.

Seattle Coast Guard, Fort Lewis, Madigan Army Medical Center, McChord AFB, Tacoma VA Hospital, Naval Base Kitsap Bangor, Naval Base Kitsap Bremerton, NUWC Keyport, Naval Hospital Bremerton, Naval Station Everett, Smoky Point, Pacific Beach Resort, Whidbey Island, Jim Creek Recreation Area and Port Angeles Coast Guard Group Air Station all have sections.

This publication is loaded with all the highlights of our wonderful Washington State and has all the information you need to explore all over the state.

The publication is free to all military and their dependents. You can pick one up or if you are not in the area just give me a call and I will pick one up for you as long as you are a military member or dependent of one.

 

Author:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

View all posts by Jo Soss →

Subscribe

Copyright © 2008 - 2012 Homefront Realty

Washington State Required Disclosures

"Equal Housing Opportunity"

---