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After Making a Difference Overseas Returning Veterans are Major Impact

After Making a Difference Overseas Returning Veterans are Major Impact on Improved Home Market

veterans | loan | va loanOver the past 10+ years a number of young men and women have sacrificed time away from family, friends, and profession to volunteer in the armed combat worldwide. As the number of troops coming home continues to increase so too has the housing market improved. The current number of homes financed with a Veterans Administration (VA) Home loan is at the highest level in almost 20 years.

 

Two Main Positives

Since the housing market crash of 2009, the overall real estate market has been making steady, but small, improvements. One of the main factors missing from the recovery was the presence of first time home buyers. A soft economy with unstable employment, along with tightened mortgage guidelines, has made it a bit more difficult for people fresh out of college to purchase their first home. Thankfully, most of the veterans returning home from the worldwide combat areas are young and looking to purchase their initial home. To make the situation even better, the current estimates state that there are over 2 million veterans that have participated in battles worldwide. This presents a large pool of potential buyers that will be anxious to purchase their own property and start a family life.

 

History Repeats Itself

The last time the real estate market received such a large impact from veterans was in the late 1940's. As soldiers returned home from World War II, many of them married, bought homes, and started a family. In 1947 the number of outstanding VA mortgages represented over 25% of all home loans. The influx of new buyers looking for stable employment led to the suburban development of the 50's.

 

Reduced Risks Lead to Better Home Loans

Although the VA Mortgage guidelines do not have the strictest rules regarding credit worthiness, the overall structure of their loans make them less riskier for the veteran as well as lenders. In order to qualify for the loan, the veteran must meet the debt to income ratios and also have a certain amount of money left over after all bills are paid. These two factors have resulted in the VA mortgage program experiencing far fewer loan defaults than other types of mortgages.

In addition, the overall state of housing has rebounded and seems more stable than just a few years ago. At one point, many veterans were afraid to buy a home due to the shaky values that were present in almost every Florida market. With almost 2 years of positive gains in property values and average sales prices, those worries seem to be firmly in the past.

 

Sacrifices Lead to Fulfilled Dreams

Many of the soldiers lost friends in the battles. They know first hand the ultimate sacrifice that has been paid to safeguard the freedoms in America. Now that these veterans are safe at home, they can utilize the benefits of the VA Mortgage program to buy their own home and live out their dreams on their own terms.

 

  

 

Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800

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After Making a Difference Overseas Returning Veterans are Major Impact on Improved Home Market


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blackwhite#ChristianPenner, #MortgageBrokerWestPalmBeach talks about #RealEstateWestPalmBeach. He also serves other Local Areas and provides home #MortgageSolutionsforPalmBeachGardens, #Jupiter, #BocaRaton, #Wellington and #Tequesta. #ChristianPennerMortgageBrokerJupiter has the #lowestmortgagerates and the best #homemortgage programs like; #Jumboloans, #FHAHomeLoans, #VAHomeLoans, #ReverseMortgageHomeLoans, #FreddieMacHomeLoans, #FannieMaeHomeLoans and #HARPMortgageLoans. #ChristianPennerMortgageBrokerPalmBeachGardens has Served the area for over 15 years with his #HomeLoanLending Needs and Works with #FEMBIMortgageinJupiter. You Can Also Find Him On fb mortgageFacebook at: http://Facebook.com/YourMortgageBanker

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Christian Penner
South Flagler Drive, Suite 800, West Tower West Palm Beach, FL 33401
Phone: +1 (561) 316-6800
 

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ChristianPenner.com
http://www.christianpenner.com/making-difference-overseas-returning-veterans-major-impact-improved-home-market/
After Making a Difference Overseas Returning Veterans are Major Impact on Improved Home Market

 

 

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