va financing: VA Appraisals - "Be Prepared!" VA Home Loans in Kitsap County WA
- 12/07/12 12:52 AM
The Boy Scout Motto is "Be Prepared!" According to Baden Powell, Founder of The Boy Scouts, this meant "being ready in mind and body for any struggles, and to meet with a strong heart whatever challenges might lie ahead." For Home Buyers utilizing VA financing, being 'prepared' is a very important aspect of the Home Buying process, especially as it relates to one's mental preparation. Originally enacted by Congress back in the mid-40's, the VA Home Loan was created to offer government-guaranteed home loans to active-duty members and veterans. With such a large military community here in Kitsap County WA, many of our residential properties are purchased … (16 comments)
va financing: VA Home Loan Buyers in Kitsap County WA
- 02/27/12 06:09 AM
Here on the scenic Kitsap County WA peninsula, we are fortunate to have a very large military community comprised of Naval Base Kitsap, including the Puget Sound Naval Shipyard, Bangor Subase, and the Keyport Naval Undersea Warfare Center. As such, many of the active-duty, active reserve, and retired service members buy homes here in Kitsap County WA using VA Home Loan financing. This is a very popular loan product of choice mainly because it doesn't require that the Buyer contribute a down payment. VA Home Loan rates are usually fairly competitive compared with conventional loan rates. The current VA Home Loan … (0 comments)
va financing: VA Appraisals and Other Horror Stories
- 09/29/10 09:23 PM
Of all the hundreds of articles I have written, by far the ones that have attracted the most long-term consumer traffic and comments have been the ones dealing with the pitfalls associated with VA financing, and in particular, the extremely frustrating and heart-wrenching hassles that can result with VA appraisals/appraisers. In this post, I will simply copy and paste some of the past comments I have received on this topic. Hopefully, by re-publishing these comments, greater awareness can be made about the problems associated with VA loan appraisals/appraisers, and the desperate need there is for meaningful changes to the process. It's … (17 comments)
va financing: VA Appraisal Horror Stories: The Ultimate Deal Killer in Kitsap County WA
- 02/25/10 10:43 AM
Let me preface this article by stating for the record that I am a big fan of VA financing. It’s one of the few home loan products currently available for active-duty service members and veterans that requires little or no money up front in order to purchase a residential property. The first two houses my wife and I bought were financed with VA home loans, otherwise we would have been renters for a very long time! It’s just that I really dislike the whole VA appraisal process. While we have many highly qualified appraisers here in Kitsap County WA, and most … (12 comments)
va financing: Challenging VA Appraisals and Other Urban Legends
- 12/27/09 10:06 AM
I experienced a ‘First‘ in my real estate career the other day. In my 10+ years as a professional agent, an appraisal for one of my listings here in Kitsap County WA came in ‘under‘ value. In other words, an appraiser was sent out to determine if the home they were buying was worth what they had agreed to pay my Sellers. Unfortunately, the Appraiser's NOV (Notice of Value) posed a significant shortfall from what both Buyers and Sellers had previously agreed to pay per contract. Did I happen to mention that the Buyer's are using VA financing? Yes, that's right Virginia, the Curse … (15 comments)
va financing: 'Very Arbitrary' = VA Appraisals in Kitsap County WA
- 11/08/09 07:10 AM
Being a licensed real estate professional here on the beautiful Kitsap Peninsula in scenic Washington State, I have the honor and privilege of serving a sizeable military community, consisting primarily of active-duty US Navy service members and their families stationed at Naval Base Kitsap. As such, a large percentage of the Buyers and Sellers I represent are involved with VA Financing. As a Navy veteran and former submarine sailor, I know firsthand the benefits of using a VA home loan. We bought our first two homes using VA Financing. It's one of the few ‘Zero-Down‘ loan products still available in today's lending market. Unfortunately, there are some potential pitfalls associated with VA financing, … (5 comments)
va financing: "Curse of the VA Appraisal" - Halloween comes to Kitsap County WA
- 10/29/09 07:00 PM
Maybe it's just a bad dream, a horrible nightmare, or worse, another badly produced installment of 'Saw' or 'Friday the 13th'! But's it's the Halloween season on the spooky Kitsap Peninsula, and another one of my transactions has fallen prey to the "Curse of the VA Appraisal!"..... What began as a seemingly normal and relatively smooth contract between my Sellers and some wonderful Buyers, has suddenly spiraled into the deepest, darkest recesses of VA Hell... To read the rest of the spine-tingling tale of VA terror, follow this link to SOUNDBITEBLOG (opens up into a new window for your viewing pleasure) … (12 comments)
va financing: Adventures in VA Loan Home Buying: "Is VA the Best Loan for You?"
- 09/23/09 10:39 AM
The first step in the VA Loan Home Buying process is to firm up your financing and get pre-approved for your loan. This really sets the stage for all that follows and effectively drives your home searching adventures. Ask you real estate agent for recommendations on some qualified, experienced local lenders/loan officers. A knowledgeable mortgage professional will be able to analyze and assess your financial status, and help determine the best loan product for your particular situation/budget. To read more about the features and benefits of VA Home Loans, go to SOUNDBITEBLOG (opens in a new picture for your viewing ease) ~ … (10 comments)
va financing: Adventures in VA Loan Home Buying in Kitsap County WA
- 09/16/09 07:33 PM
One of my most favorite and popular series I've authored since jumping into the blogging fray has been "Adventures in 1st Time Home Buying!" a fun and informative collection of 10 articles created specifically to guide 1st Time Buyers through the home purchasing process. As a veteran who proudly served on-board a submarine in the US Navy, my first two homes were purchased using VA financing. Living here in Kitsap County WA, home to the Bangor Sub Base and Puget Sound Naval Shipyard, many of my Buyer clients are Active-Duty military and choose VA loans when buying their homes. Given the unique nuances and pros/cons of VA financing, … (18 comments)
va financing: Death of a Dream: VA Appraisals Re-Visited
- 04/02/07 05:20 AM
Okay, I really hate to beat a dead horse, but I'm just getting so sick and tired of the whole VA appraisal process. I had posted another article on this issue previously and my trusty sidekick, Buckwheat, had written along similar lines as well. Yet another one of my transactions died an unwarranted premature death due to conditions imposed by the VA appraiser. Dreams of Home Ownership came to an abrupt and painful halt. To read more about the deadly russian roulette of VA Appraisals, go to the full article on SOUNDBITEBLOG (opens up in a seperate window). Update: Just so everyone knows, I am not against … (63 comments)
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The Boy Scout Motto is "Be Prepared!" According to Baden Powell, Founder of The Boy Scouts, this meant "being ready in mind and body for any struggles, and to meet with a strong heart whatever challenges might lie ahead."
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