Home Loans for Veterans in Dallas

May is National Military Appreciation month and we remember those who have died serving our country in the armed forces on Memorial Day. As we think about Veterans, we want to take a moment to share all of the options available regarding Home Loans for Veterans in Dallas.

At The Tuttle Group, we are proud to help Service Members and Veterans in the Dallas-area achieve the American Dream of being a home owner. Home loans for Veterans are backed by the Department of Veterans Affairs (VA). The VA provides affordable home financing options for eligible Service Members, Veterans, and surviving spouses. If you’re a military veteran or still in active duty, you may qualify for a VA home loan in D-FW.We help Veterans with their home loan in DFW

Interested in a home loan for Veterans in Dallas? Contact The Tuttle Group today.

Benefits of a VA Loan

There are many benefits of a VA loan for those who qualify. Typically a VA home loan doesn’t require a down payment* and offers lower closing costs. Other benefits of home loans for Veterans include:

  • No down payment with full VA entitlement*
  • Low closing costs
  • VA financing fees can be “rolled” into the loan amount
  • No private mortgage insurance (PMI)

*A down payment is required if the borrower does not have full VA entitlement, or if the loan amount is greater than $424,100

VA home loans include both fixed- and adjustable-rate mortgages. There also are a variety of eligible property types, including townhomes and VA-approved condos.

VA Loan Eligibility

To be eligible for a VA loan, you must first obtain a valid Certificate of Eligibility (COE). This is based on length of service, duty status and character of service. Active duty service members, including those serving overseas, also are eligible.There are many home loan options available for Veterans in DFW

Those who qualify for a VA home loan includes:

  • Active duty service members
  • Veterans
  • National Guard
  • Reserves
  • Surviving Spouses

Misconceptions about VA Home Loans

There are some misconceptions about home loans for veterans that we want to clarify. Some believe that a VA loan takes a long time. But that’s simply not the case. At The Tuttle Group, we’re accustomed to working with Veterans in the Dallas-area who want to buy a home. That means we know what we’re doing and we can close VA loans in 21 business days.  It’s also good to know that eligible borrowers may have multiple VA loans at the same time. You’re not limited to one VA loan.

Available VA Home Loan Programs

There are a number of type of VA home loan programs available.

Adjustable-Rate Mortgage
If you are currently serving in the military with a chance of relocating in the next few years, the flexibility of an adjustable-rate mortgage (ARM) could be the right option for you. ARMs offer lower introductory interest rates that can change after the initial fixed-rate period. Depending on market fluctuations after this initial fixed-rate period, your monthly payments could change due to rates increasing or decreasing.

Fixed-Rate Mortgage
Fixed-rate mortgages protect you against rising rates since the interest rate remains the same for the entire term of the loan. You can select a 30- or 15-year loan term. The main difference is the 15-year option has higher monthly payments, which also means you are building home equity faster. Keep in mind you can use equity as a down payment for your next home or a future cash-out refinance. If you plan on staying in your home for a longer time frame, a fixed-rate mortgage could be the right solution for you.

Cash-Out Refinance
If you’re already a homeowner, a cash-out refinance may help you pay for major expenses like college tuition, debt or home improvements. This option allows you to take cash out of your home equity by replacing your current mortgage with a new loan that is more than the amount owed. You can also refinance a non-VA loan into a VA loan with a cash-out refinance.

Interest Rate Reduction Refinance Loan
An interest rate reduction refinance loan (IRRRL) may help lower your interest rate and reduce your monthly payments by refinancing your existing VA loan. You can also refinance an adjustable-rate mortgage (ARM) into a fixed-rate mortgage with this option. However, you cannot receive cash from loan proceeds with an IRRRL.

Interested in a home loan for Veterans in Dallas? Contact The Tuttle Group today. We’re you friend in home finance.

Simple House Deals

Frank Reed from SimpleHouseDeals.com explains how to use “soft money” to help you buy the house you want. Simple House Solutions allows you the flexibility to search for the right property. His team is constantly building their property list with properties that are great as the primary home or an investment. Frank does the hard work up front to help you get conventional home financing.
Take a look at SimpleHouseDeals.com to review the current inventory available.

 

DFW Mortgage Market Update: Mid-May 2017

This week we had housing news that was not as good as expected. While new housing starts are strong, but the stock market took a dive due to the current political climate. Interest rates improved, but look for next week to make an adjustment.

Since March we have seen a steady climb. If you had were locked in March, you are doing well. You should try to lock in rates now due to possible increases. Good news is that we are in a tight trading range and rates and prices are holding steady.

Realtor Coffee Talk: Top Producer Mike Wood

Top producer Mike Wood is on this week’s Coffee Talk. With 200 deals last year, they are currently running 20 sales a month this year. Mike’s big tip for 2017 is to “regrade” fans and work on relationships. Build a strong referral business. This creates a better way to build the relationship and enhance future growth. Mike also states that biggest gain realtors can work on is to think positively about their business.

Coffee Talk: Leverage our Prequalification Marketing Kit

Our pre-qualification marketing kit will help with buyers that have lost some momentum. This kit will help you manage your buyer’s expectations by keeping them focused on the house, the neighborhood and their lifestyle. The marketing kit also helps educate the consumer on the financial side.

Make a maximum impact with minimal effort.

The pre-qualification marketing kit includes numerous articles featuring marketing content that is relevant to your buyer’s need.
Includes information on:

  • Demographic information
  • RE market data
  • Appreciation data
  • Renting vs. Buying

Two ways to sign up.

Option 1
Get your branded portal for only $20.00 a year (in keeping with RESPA compliance).

Option 2
You can also co-brand of the portal with the Tuttle Group. Contact Andy or someone o his team to get started.

Mentions
Realtor Coaching Call featuring Allen Huggins
Moving up costs analysis

DFW Mortgage Update – April 29, 2017

Hello, home buyers and happy weekend.

Great things. Stats show great appreciate 8.2% for a metro area. Fantastic place to buy a home. We will continue to see appreciation in this range for the next few years. For instance:
$10,000 down on a $200,000 home that $20k on 8% appreciate you will make $16,000

Rates
Not only appreciation is up, but inventory is low. Time to take action.
Before November 8 we had our lowest rate.
Since the election, we have seen a 1% increase. Since March we saw a nice rally. Regretfully negative world events affect the market in positive ways for us. The Fed statement has helped the bonds get on track. We see a possible squeeze play. Typically means there may be a pop out. We might see this change depending on US economic news.

Right now you are in the real 4% rate. Changes may give you some small changes to your monthly mortgage payment.

DFW Mortgage Market Update: Rates held strong after solid Jobs Report

Hello home buyers and happy weekend.

This is a weekly update to educate you on what is happening in the market, how that affects rates and how that affects you while you’re out shopping for homes.

Dense news week with Ben Bernanke was speaking to Congress and the Federal Reserve meeting. No Fed hike, but looking to may have an increase in June.
The jobs report looked well, 211,000 new jobs. Sometimes this affects the bond market. But there were some corrections from previous months that helped keep everything in alignment.

This week the focus will be on technical moves. We are currently below the Bianchi line. For conservative borrowers, this is a good place to lock in your rate.

Historically the DFW market averages 3%, but because we are in a hot market, you should be able to expect a 6% return. This is perfect for building wealth for your family.

Until next week, take care.

Ditch The Wedding Registry For What You Really Need

Fifty years ago, it was common for young people to live at home with their parents until they were married. If they didn’t get married, they sometimes never left home. Couples also tended to get married at a younger age – sometimes just as a way to escape their parents. They also did not generally live together prior to getting married. This meant that when young people got married, they were often establishing a home for the first time and needed all of the accessories that go with doing so, ranging from dinnerware and flatware to irons, toasters and coffee makers.Skip the gifts and focus on a home

While times may have changed, many of the customs and traditions surrounding weddings and wedding showers have not. Today, not only are many couples waiting longer to marry, but many couples live together prior to getting married. Even among couples that don’t live together prior to marriage, they often live in their own homes or apartments rather than with their parents. When couples move in together after marriage, they don’t generally need a wide variety of household items and in fact, often have to get rid of many items that they both own.

Ask for Money Towards a Home Down Payment

As a result, the practice of creating a wedding registry for household items is a relatively outdated one. Today, couples are opting to instead ask family and friends for a wide range of support that they are in far greater need of than a toaster or coffee maker. Some of the things that today’s couples are asking for are:

  • Contributions for a once-in-a-lifetime honeymoon
  • Support for covering the expenses of the wedding itself
  • Help to pay off student loans or other debt so they can start their marriage debt-free
  • Help with a down payment on a home

While at one time it was considered gauche to ask for money, this is another way in which times are changing. In a world where self-storage has become a $32 billion a year industry, the values of young people are changing to from things to experiences. While they may not need a coffee pot, a high-end espresso maker, and a French press, however, even Millennials need a place to live.

Today, rather than registering at stores, couples are using everything from social media to crowdfunding sites as alternatives to traditional wedding registries. In addition, electronic payments and transfers are making it easier than ever before for friends, family, and relatives to support the couple even if they can’t make it to the wedding. Friends and family around the world no longer have to stick a check in the mail that can take weeks to arrive – or hassle with currencies, foreign banks or other issues. Today, they can just send money electronically right from their computer or smart phone.

If you are in the process of planning a wedding, consider ditching the traditional wedding registry and instead just ask for what you really want or need most. Whether its help with a spectacular honeymoon or a home mortgage, don’t feel obligated to stay bound by tradition. If you genuinely need a 250 piece set of flatware, then, by all means, ask for it. Otherwise, feel free to let your friends and family know what you really need most. The likelihood is, they will probably be delighted to save the trip to the store, not to mention the trouble of gift wrapping.

How Home Insurance Adjusters Help

When the need for insurance adjustment arises on damages to the home, many people are lost without help from a company that understands the needs of real people. The job of an insurance adjuster is to assess damages and recommend courses of action for equitable repairs. The truth is, many homeowners are entranced by the sales techniques and promotions of companies that do not have their best interests in mind.

Benny Wright’s conversation with Andy Tuttle highlights the importance of hiring an ethical insurance adjuster who knows the industry and can describe how to make the best claims. Hiring a knowledgeable adjuster is great when these problems arise:

  • Weather-related home destruction.
  • Stock and crop damage because of neighbor negligence.
  • Difficult and expensive car claims.
  • Potential insurance claims with damages yet to be assessed.

Making insurance claims does not always coincide with the conveniences of modern living. People have careers that make official insurance actions difficult to manage. This is where having an experienced insurance claims group ready to service every claim detail is important. Representatives can provide information and legal obligation fulfillment that eases the burden of seeing an insurance claim through to completion.
An experienced adjuster will take all aspects of a client’s life into consideration when processing a claim. Everyday people do not have the time, energy, and knowledge to address common insurance needs. Adjustment service allows any individual to receive professional attention concerning all insurance matters. Experienced adjusters can navigate the complex insurance world, and help their clients recover from any type of accident, or property destruction claim.