In this episode, we tackle the top reasons why you should be using your VA Loan Benefit RIGHT NOW! The time is now! If you’re on the fence, hop off it. If you’re still paying someone else’s mortgage (i.e. renting), STOP IT! Invest in your financial future now! Here’s why:
The Most Favorable Loan Type
Interest rates have taken a plunge, the VA Loan is now THE MOST favorable loan type in terms and interest. It even beat out the big guy --the conventional loan-- in interest rates. Not to mention the fact that lending companies and deed transfer services costs are getting lower and lower because more lending and title companies are wanting military home buyers to use their services and products.
The Market is Booming
The next reason you should be using your VA Loan Benefit now is that the market is booming. You are never going to find a market like what exists right now. The market is continually trending upwards and is able to do that without inflating because appraisers are doing their jobs at keeping pricing in check. What this means is that sellers are able to cash in considerable equity and home owners are able to see great appreciation rates. Home buyers are able to get into home ownership at a decent, reasonable, low, and fair cost. It really is a no brainer. It won’t, but IF the market does take a major crash again, the VA Loan Product has protections built into it that will allow you to get out of the house without the harm that would befall other loan type borrowers.
No Money Down
To top it off, the next reason why you should be using your VA Loan Benefit now, is you don’t have to put money down. This isn’t new information, but I keep running into people every single day that do not know that you don’t need a down payment in order to use your VA Loan Benefit. You will still incur closing costs, but if you work with me or someone within my network, those costs will be substantially reduced or completely covered in many cases.
The Military is Paying for It
The final top reason why you should be using your VA Loan Benefit now is that the military is paying for it. Why not use their money to invest in securing your financial future? Every single month you are paid BAH, that’s non-taxable income that’s meant to go towards housing. It’s pretty simple really. Would you rather be guaranteed to get that BAH back in the form of equity when you PCS or to get even more back when you cash in your equity. Or would you rather throw it at renting, and paying someone else’s mortgage, and never see it again? Or worse, letting the military keep it in exchange for sub-par base housing? In those scenarios, there’s no way you’ll see a nickel of that money back.
So, use it! Use it for your own future. Use it to invest.
We can’t just create more land. Real estate is a non-renewable commodity. Being so, investing with your VA Loan is one of the most secure investments that you can do for your family’s financial future.
These are just the top reasons why you should be using your VA Loan Benefit now. There are many, many more. Overall there is more risk involved in not using your VA Loan Benefit than there is in taking the leap in investing and securing your financial future. So, get off the fence, stop paying for someone else’s financial security and start securing your own promising financial future.
Thanks for tuning in to the #AskJulieC Real Estate Show. Do you have any questions about the VA Loan Benefit or how the home buying process using this benefit work? Message me on Facebook! Thanks again for tuning in, and we'll see you next time.