VA Loans Blog

There’s probably not been a time when we’ve had such a forced opportunity to examine our current living conditions. For over two months we’ve been told to stay home. How are you feeling about that home? This may be an opportune time to make your move.

In recent weeks we’ve been bombarded with news about the novel virus then came the demonstrations and riots over the death of a citizen at police hands. But there’s other news that may have been crowded out and we at VALoansMN believe it needs to be brought forth.

Given this opportunity to live day after day inside your home with no usual breaks of going to work, socializing with friends and family or anything other than necessary trips to the store you may be having second thoughts about your current living situation.  Do I really like the size of my house? Is the neighborhood the kind of place I want to live? If I were to move, how much would it cost? Only you can answer the first two questions but we can help you with the third.

Minnesota veterans have long turned to us at VALoansMN/Leader One for home financing. We’ve been the lender of choice for many of your county’s service officers. We believe we are the number one VA loan choice because we’re local. When you call Brad (612.240.9922) you’re not talking with someone in Denver or Detroit, you’ll be talking with someone who lives where you do, understands your needs as a veteran living in Minnesota, the Dakotas or Iowa. We think that’s important. We’re not a loan factory churning out products to increase our numbers like the 1-800-get-my-mortgage outfits. Now, more than ever, we want to help you in your home financing decisions. 

Is now a good time to make a move? Look, given today’s extremely low interest rates you may never be in a better position to upgrade your living situation to better meet your and your family’s needs. The best way to start is to call us at VALoansMN/Leader One. We promise you’ll get honest, straight-forward information about home financing. No sales pitch, just the facts.

So while all the news is about big social issues just know that we are here to help you meet your own personal needs. It’s what we’ve been doing here in Minnesota for over a decade. We’re here when you need us most.

Posted by Joan Rusco on June 2nd, 2020 9:12 AM

Let’s start with a big bite of optimism: In February this economy was on fire. Job creation smashed estimates with 175,000 jobs created in a single month. No estimate saw that coming. The stock market was reaching all time highs. Interest rates were at the historic lows we’ve witnessed for months and months. What a great time to obtain a VA loan. Then, everything changed.

Along comes the Coronavirus from China. Chinese authorities say their first detection was early December but there’s evidence it was occurring as early as October. Thousands of travelers were flying in and out of that infected region daily. President Trump halted travel from China to the U.S. in late January. The first person to person transmission of the virus in the U.S. wouldn’t be recorded until February 23rd. This is the catalyst rocking the mortgage world.

Mortgage rates have been historically tied to the rates of the 10-year U.S. bond. Even that has changed. As the Federal Open Market Committee (commonly referred to as the “Fed”) was cutting the Federal Funds Rate the rate on the 10-year was falling also. But, not mortgage rates. For a number of in-the-weeds factors we saw mortgage rates leap upwards. We’ve also seen lenders tightening requirements. Mortgages have become a bit harder to get. 

We have for months on end been urging you to take advantage of VALoansMN extremely low rates. We’ve even urged you to tell friends and family that NOW was the time to act because the low rates can’t last forever. It is disappointing to tell you but, at least for the time being, that window of opportunity may have closed. Notice we said MAY have closed. 

VALoansMN Loan Officer Brad Christensen is still able to help you. Now more than ever you need a local, reputable loan officer to guide you through this most turbulent time. Rates are not as low as they were just weeks ago. Loan requirements are a bit tougher also. But, let us assure you, we are here to help you achieve your home finance goals. CALL US TODAY and let us give you an accurate reading of your opportunities to buy or refinance a home with a VA Loan.

We started with that big bite of optimism so let us end with it as well. Financial king pins believe the various stimulus packages being rolled out in the economy are likely to bring back that booming state of affairs we had prior to the virus attack in the U.S. They believe, and we want to believe also, that the come back will take a much shorter time than what some prognosticators believe. 

 

Posted by Joan Rusco on March 31st, 2020 4:43 PM

Blown away! That is the best descriptor of our feelings when we were able to lock in a V.A. home loan mortgage rate BELOW 3%. Of course, rates vary day to day. No, correct that, rates vary hour by hour. 

You’ve no doubt been hearing about the wild swings in the stock market but less attention is given to what has the most impact on a V.A. mortgage rate-the bond market. We’re not going to crawl too deeply into the weeds here but suffice it to say, when the 10-year bond rates takes a dive, generally speaking, V.A. loan rates follow. That’s what’s been happening recently.

We are thrilled to be able to provide Minnesota (and other states) veterans home loan rates never seen before. We are in a very sweet spot for you to take advantage of these rates and put money in your pocket instead of paying a financial institution. 

While veteran home buyers are benefiting from this very rare scenario of basement bottom buy rates, so too can veterans who already have a V.A. mortgage. Refinance rates may not be as low as home purchase rates but they too are way, way down. At VALoansMN and Leader 1 Financial we can demonstrate how you may be able to save some serious dollars by refinancing your V.A. home loan.

Along with all this stunningly good news comes a precaution. As mentioned above, V.A. mortgage rates change hour by hour. Will you be able to get a loan around 3%? We, and no one else, can answer that question without some due diligence. There’s only one sure way to find out. Call Brad at 612-240-9922 and let’s unlock your possibilities.

Posted by Joan Rusco on March 5th, 2020 7:11 AM

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