Napa Mortgage News

Yountville Veterans Home & VA Loan Products that Rock

November 10th, 2017 12:37 PM by Dale DiGennaro

Dear Gena,

There are still a lot of veterans out there who are not aware that with their benefits....

they actually DO qualify for the American dream of homeownership!

Using a loan from the Department of Veterans Affairs rather than a conventional or Federal Housing Administration (FHA) loan, our veterans and military men and women can save money by obtaining one of the lowest interest rates on the market.

They also will not have to scrape together a large down payment or pay mortgage insurance!

This program today is actually way easier than most people realize and the numbers prove so!

Last year...the 740,000 VA loans were the most done in a single year...up from 300,000 just three years prior. The Washington area alone has had a 78% increase in VA loans in the past four years but the leading states by volume are still California, Texas and Florida.

The low interest rate is the biggest reason many veterans and service members are using the program. VA loans have had the lowest interest rate on the market for most of the past 41 months according to Ellie Mae data. The second big advantage is that in most cases,

a down payment is not required.

As long as a veteran, or a person currently serving...has his full VA Loan entitlement and remains below the loan limit, he does not have to put money down. The limit is $424,100 for most counties. In more expensive markets, it is $636,150. A veteran can borrow above that amount but then they would need to put money down.

Another misconception is that it is some sort of government "low income" loan and that couldn't be further from the truth! We can finance over $1,000,000 using this loan product!

"People talk about this idea that homeownership seems to mean more to many veterans and military families," said Chris Birk, director of education.

"Many see it as owning a piece of the American dream that they vowed to defend."

If you would like more information Click Here or just give us a call.

VISIT OUR WEBSITE

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THINKING OF SELLING OR EVEN DOING A REFINANCE...
Our "Home Price Index" will take into consideration your original purchase price & date of home purchase to determine...

according to the appreciation rate for the region you live in...whether it is a good time for you to refinance now or....if you are getting ready to list your home...what a reasonable value for your area would be. You can also sign up to receive a quarterly report of your homes value based on the up to date analysis of your region.

Just a couple of ways that Custom Lending keeps you informed of our changing market place so you can make the best financial decisions for you and your family!

Tax Plan in Focus

As expected,

market moving

news was scarce this week. It was a very light week for economic data. The primary source of volatility was Thursday's release of additional details about the Senate tax plan, but this had just a minor net effect. Mortgage rates finished the week a little higher.

On Thursday, the Senate released more information about its plans

for tax

overhaul. Of note, the Senate plan would delay a corporate tax cut until 2019. The House and the Senate now will work to reconcile their differences to come up with a plan that both will support. Investors will be keeping a close eye on progress on this front. In general, tax reform is expected to be inflationary

and negative for mortgage rates. As a result, news indicating that the package will be larger or will go into effect sooner will be viewed as worse for mortgage rates, and vice versa.

Friday's report on Consumer Sentiment revealed that consumers remain very optimistic about current and future economic conditions. Last month, the index reached the highest level since 2004. While it dropped a little this month to 97.8, this was still the second highest reading of the year. In October 2016, prior to the election, the index was at a level of just 87.2.

With the stock market near record levels, the unemployment rate the lowest in decades, and hopes for tax cuts high, it makes sense that consumers are feeling good about the economy.

Looking ahead, Wednesday will be the big day with Retail Sales and the Consumer Price Index (CPI). Consumer spending accounts for about 70% of economic activity in the U.S., and the retail sales data is a key indicator. CPI is a widely followed monthly inflation report that looks at the price change for goods and services. Industrial Production, another important indicator of economic activity, will come out on Thursday. Housing Starts will be released on Friday. In addition, investors will be watching for any changes in the tax reform plans.

The Veterans Home of Napa is located in Yountville and part of the beautiful Napa Valley.

It is a community for veterans founded in 1884 and is the largest home in the U.S.

With its park like setting....it offers a wealth of social,recreational & therapeutic activities.

CLICK HERE for more information

At this season of giving....your donations here are always appreciated...or....if you have another cause that is near and dear to your heart you may find it at...

https://napavalleygiveguide.org.