The state of Colorado in the United States of America is known to be one of the most beautiful states in the country. The state is known for its diverse geography, which includes the picturesque Rocky mountains, deserts, arid plains, deep canyons, rivers, lakes and lush green forests. Therefore, the state of Colorado offers to be one of one the ideal places for veterans to settle down after separating from the service. If you are a veteran who wants to have a calm and serene life after dedicating years of service to the nation, then you can take a home mortgage and settle down in this picturesque state. Here, we would be taking a look at the few things that you should know before taking a VA home loan in Colorado. What makes you eligible?The Home Loan Guaranty Program of the Department of Veteran Affairs (VA) provides guaranty to the home loans taken by members of the U.S. Military. To be eligible for the Loans, you need to be –
VA Loan Limits in ColoradoThe VA does not specify the maximum amount of loan you can borrow. The Limits is practically the maximum amount of loan you can borrow, without paying any down payment. Adjustment of limits based on the real estate prices of the county. Therefore, if you are looking for a property in more expensive Pitkin county, you can get bigger VA Mortgage Loans. The Mortgage limits for certain counties are given below.
Getting a VA Home Loan in ColoradoIf you want to make the full use of the Colorado Veteran Benefits, there are a few things that you would need. You would need your DD214 form, which you would get when you separate from service. You would also need your Certificate of Eligibility (COE) which would state that you are eligible for such loans. You can get the COE yourself or you can ask a reputed Lender in Colorado to get the loan for you. Such experienced lenders would also offer a range of other services which would make the process of application for VA home loan Colorado, a whole lot simpler for you. So take the help of the leading lender in the state and fulfil your dream of settling in one of the picturesque lands in the United States of America.
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When a veteran or a current member of the U.S Armed Forces gets to move to Hawaii, he/she immediately gets the feeling of moving to paradise. The exotic tropical climate and beautiful landscape often entices the mind of an average American. Therefore, this state is often considered to be one of the most ideal paces for veterans to settle down. This is probably the reason why there are more than 120 thousand veterans currently living in the state. The state also has a large number of military establishments which include the Hickam Air Force Base, Fort Shafter and the historic NS Pearl Harbor. If you want to settle down in Hawaii, then the best way to go about it would be to take a VA Loan, which is Federal program that makes home ownership easier for military home buyers. The Current Real Estate Market in Hawaii
Home prices are higher in Hawaii then they are elsewhere in the United States. Recently, the Department of Veteran Affairs has increased their VA Loan Limits. In areas famous for their tropical beauty, like Lahaina and Kailua Kona, home prices are astonishingly high. Some properties in these areas sell at more than a million dollars. Property prices are also pretty high in cities like Waianae and Kapolei. In Pahoa, however you can buy a comfortable family home at a price of $275,525. While the average price for an owner occupied home in America is around $119,600, the median price for owner-occupied home in Hawaii is around $272,700. Similar trends can be seen for the asking price for housing units in Hawaii, which are considerably higher compared to the rest of America. To keep up with the rising property prices in Hawaii and the VA has increased its lending limits. The VA Loan Limits for the counties of Hawaii are given below- County VA Loan Limits Hawaii $625,500 Honolulu $750,000 Kalawao $625,500 Kauai $625,500 Maui $625,500 This means that if you want to buy a property in this county, then you would get a loan of $750,000 from VA-approved Hawaii Mortgage Lenders without paying any down payment. Calculating VA Mortgage Payments VA Loan Mortgages are calculated the same way as any other traditional mortgages. However, one major difference is the VA Funding Fee, which in most cases, rolled up into the amount of loan taken by the borrower. The rate of VA Funding Fee varies, depending on the down payment you have paid and the nature of your service. The VA Funding Fee typically ranges from 1.25% to 3.30% for home purchase loans. For VA streamline refinance, the funding fee is 0.50%. However, if you are disabled due to your service, then you would be completely exempt from paying your funding fee. To calculate your VA mortgage payments, you can always use one of the Hawaii Mortgage Calculator available on the web. Getting in Touch with an expert When it comes for VA Loans, it is always a wise option to go with an experienced Hawaii mortgage company which specializes in offering VA Loans. Some of the most reputed VA-approved lenders in America, like VALoansFinance.com have their offices in Hawaii and they have helped several veterans and active duty members of the U.S. Military to get a Hawaii VA Loan. They offer you comprehensive range of services that help you ease the process of application. So what are you waiting for? Get a VA Loan in Hawaii from these experts and say ‘Aloha!’ to the beautiful islands of Hawaii and get your own piece of paradise. |
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