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So Cal VA Homes

How To Use a Mortgage Rate Calculator: Getting the Most Out of This Important Tool

by So Cal VA Homes
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Knowing how to use a mortgage rate calculator is tremendously helpful for first time home buyers. A mortgage rate calculator is useful for getting an estimate of your monthly mortgage payment and seeing what part of your monthly payments will go toward interest, taxes, and homeowner’s insurance. In this guide, we will walk you through the different steps that allow you to calculate your mortgage. How to Use a Mortgage Rate Calculator The information required for most mortgage rate calculators can appear a bit daunting. Here is the most basic formula, one that will only give a general estimate of […]

How to Lower Debt-to-Income Ratio Before Applying for a VA Home Loan

by So Cal VA Homes
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Are you anticipating applying for a VA home loan and need to know how to lower debt-to-income ratio? This is an important topic because your debt-to-income ratio affects the kind of mortgage you will qualify for as a first time home buyer. What is the Debt-to-Income Ratio? Your debt-to-income ratio is a percentage, a number that compares a buyer’s recurring expenses and debt payments to their gross monthly income, the amount of money earned each month before taxes and payroll deductions. A Debt-to-income ratio is a metric that gives lenders a clear idea  if you will be able to afford […]

Temecula and Murrieta Real Estate: What’s the Difference?

by So Cal VA Homes
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Are you asking yourself what the difference is between Temecula and Murrieta real estate? Temecula and Murrieta are both in the southwestern corner of Riverside County. Veterans and non-Veterans are drawn to the area because it is a remarkably affordable place to live and very family-friendly. Both cities share a number of attractive, positive similarities, and they each ranked very well in a recent Wallethub survey. Wallethub compared 254 cities across California in 2018, applying twenty-one key metrics to determine the best places for families to live. Temecula came in at twenty-one, and Murrieta ranked fifty-nine. Looking closely, however, Temecula […]

Temecula and Murrieta Real Estate: What’s the Difference?

by So Cal VA Homes
in Tips
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Are you asking yourself what the difference is between Temecula and Murrieta real estate? Temecula and Murrieta are both in the southwestern corner of Riverside County. Veterans and non-Veterans are drawn to the area because it is a remarkably affordable place to live and very family-friendly. Both cities share a number of attractive, positive similarities, and they each ranked very well in a recent Wallethub survey. Wallethub compared 254 cities across California in 2018, applying twenty-one key metrics to determine the best places for families to live. Temecula came in at twenty-one, and Murrieta ranked fifty-nine. Looking closely, however, Temecula […]

How the Mortgage Rate Drop Will Affect the Housing Market (Infographic)

by So Cal VA Homes
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  Share this Image On Your Site </p><br /><br /><br /> <p><strong>Please include attribution to SoCalVaHomes.org with this graphic.</strong></p><br /><br /><br /> <p><a href=’https://www.socalvahomes.org/2019-mortgage-rate-drop-infographic/’><img src=’https://www.socalvahomes.org/wp-content/uploads/2019/09/So-Cal-VA-Homes-How-the-Mortgage-Rate-Drop-Will-Affect-the-Housing-Market.jpg’ alt=’How the Mortgage Rate Drop Will Affect the Housing Market’ 540px border=’0′ /></a></p><br /><br /><br /> <p> The Current Market: Mortgage interest rates are at the lowest they have been in over a year. As…

First Time Home Buyer: Overcoming Common Fears

by So Cal VA Homes
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It is very common for a first time home buyer to experience certain fears. These feelings are understandable: buying a home is a big step, and it can be a complicated process. We asked home buyers who purchased a home in the last five years to describe their most significant worries before buying their first home. We also asked them how they overcame these fears, and if they could provide advice and tips for others in a similar position. Can I really afford this house? Many first time home buyers worry about overpaying for a house. They ask themselves, what […]

What Do First-Time Homebuyers Need to Qualify for a Home Loan?

by So Cal VA Homes
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If you have never purchased a house before then, you might be wondering about first-time homebuyer qualifications. You will be relieved to know that there are many mortgage programs available to make it easy for first-time homebuyers to purchase a house. However, if you are a Veteran or qualified active military member, you have one of the best home loan programs right at your fingertips. The VA home loan program was created to make it easier for Veterans to buy a home or refinance an existing mortgage. The program also supports the construction of a new house on a lot […]

Things You Need to Do After Buying Your First Home

by So Cal VA Homes
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If you just purchased your very first home, you will appreciate this list of essential steps for first time home buyers to tackle immediately after closing. You are probably eager to begin unpacking boxes and to arrange furniture, settling into and enjoying your new space. To get settled, there are several things you must do to stay organized and safe and to keep your new house in excellent condition. Change of Address You will need to update your home address. Be sure to fill out a change of address form with the United States Postal Service. Doing this will ensure […]

Common Mistakes First-Time Homebuyers Make

by So Cal VA Homes
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If you are preparing to invest in your first house, you will want to know about—and avoid–common first-time homebuyer mistakes. Knowing what to expect ahead of time and doing some research will help to guard against avoidable problems down the line. Here is a list of mistakes to avoid when coming up with your home buying game plan. Be Realistic About How Much You Can Afford Don’t make the mistake of overestimating how much you can afford. Four key factors determine how much you can borrow on a mortgage: household income, monthly expenses, credit score, and how much you have […]

A Must-Have First-Time Home Buyer Checklist

by So Cal VA Homes
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A first-time home buyer checklist is a must if you want to be fully prepared for the exciting and also daunting journey of purchasing your new house. While it’s much more fun to think about paint colors and what it will feel like to walk into your new home for the first time, there are a few critical steps to take first. Good planning and patience as you go into the home buying process will pay off in the long run! Save for a down payment, but only if you are using a conventional home loan. If you are using […]

Best Neighborhoods In Temecula Valley for Veterans

by So Cal VA Homes
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What to Look for in a Neighborhood The Temecula Valley is an awesome location for Veterans to purchase a home. The city welcomes them and has taken several concrete steps to show appreciation for Veterans and active military personnel. Since 2007, Temecula has worked with non-profits, businesses and public entities to welcome Veterans into the city, to establish programs and host events. The Military Banner Program displays official military photos of service persons who reside or have immediate family living in the City of Temecula. The banners are displayed around the city and list their name, rank, and branch of […]

2019 VA Loan Limit For Riverside County

by So Cal VA Homes
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VA loan limits have increased from previous years, and this is good news! Loan limits matter when thinking about affordability and how much house you can get for your hard-earned money. VA loan limits officially changed on January 1, 2019 in response to rising home prices in 2018. Since loan limits have increased from $453,100 to $484,350, Veterans now have 6.9% more to work with when purchasing a house. Home prices are expected to rise slightly over the next year, but you will still have a lot to work with when using your VA loan. Because the median home price […]

U.S.A. Wins, yet another Veteran loses…

by Peter Brady
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  It was a big week for the U.S.A. – We celebrated Independence Day on Wednesday, and then just this am, the United States women’s national soccer team won the World Cup securing back to back titles!  Congrats ladies! But for me, this week was overshadowed by yet another example of a Veteran getting a “raw” deal in the housing marketplace. Because nearly all of my first hand experience is with the successes (and bumps in the road) with our own clients, I don’t get a chance to prove my theories about what’s happening in the market with Veterans working […]

What is a VA Jumbo Loan?

by So Cal VA Homes
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VA jumbo loans are an attractive option for a buyer who is interested in homes in a higher priced community. This type of loan makes higher-priced homes more achievable and does not require the kind of down payments as a conventional loan. If you have ever wondered whether you can exceed the loan limits in California, which are set by government agencies, the quick answer is “yes!” VA jumbo loans are used in exactly those situations when the purchase price is over the loan limit for the county. Let’s go back to the basics of VA loans in order to […]

The Affordability of Living in Riverside County

by So Cal VA Homes
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The cost of living in Riverside County makes it an affordable place to relocate to. Median home prices make the biggest difference when comparing the cost of living in Riverside to surrounding counties such as Los Angeles, Orange County, and San Diego. On average, the median home cost in Riverside County is 40% less than Los Angeles County, for example. The same home that costs approximately $400,000 in Riverside would cost $670,000 in Los Angeles. That’s a huge difference! Home prices are sure to be a significant factor when you compare the affordability of choosing between Riverside County and the […]

Affordability and Loan Limits for Los Angeles County

by So Cal VA Homes
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If you are a Veteran who is thinking about moving to Los Angeles County, then you might be concerned about affordability. While it is true that the cost of living in Los Angeles is higher than the cost of living for counties located just east (e.g., Riverside County), you might be pleasantly surprised to know that your VA entitlements can make purchasing a home in Los Angeles easier than it may seem. Consider this: current interest rates are at historic lows and as Veteran, you do not have to pay for Private Mortgage Insurance (PMI). You might be wondering about […]

VA Loan Limits Rise in 2019

by So Cal VA Homes
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VA loan limits have changed as of January 1, 2019. They have increased from previous years, and this is good news! Loan limits matter when thinking about affordability and how much house you can get for your money. Since loan limits have increased from $453,100 to $484,350, Veterans now have 6.9% more to work with wherever they decide to purchase a house. But this is even better news if you plan to buy in San Diego. Why? Because San Diego is considered a “high-cost county” based on the higher-than-average cost of homes when compared to other places within the United […]

How Does Credit Affect Your Loan?

by So Cal VA Homes
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How Does Credit Affect Your Loan? A person’s credit score can say a lot about them. The number is based on a person’s creditworthiness. A credit score is a good way for lenders to determine how likely a borrower is to pay back their loan. Credit scores are a useful screening tool for credit card companies, banks and mortgage lenders. All prospective homebuyers are subject to credit checks to qualify for home loans. For Veterans hoping to secure a VA home loan, credit scores are just one detail lenders will look to for approval. Because the loans are offered by […]

Overcoming Seller’s Bias: Strategies to Help Veterans Buy Homes

by So Cal VA Homes
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Overcoming Seller’s Bias: Strategies to Help Veterans Buy Homes Buying a home is a journey. For most people, home represents safety. It’s easy to get caught up in the dream of a life in a home you recently toured. Too often, though, sellers are unwilling to accept VA loan offers. Veterans find their offer for the home of their dreams rejected. Like it or not, certain biases against VA loan offers exist. In this blog, we will cover many of the reasons behind seller’s bias against Veterans. We’ll also teach you how to overcome them. Misconceptions About the VA Home […]

Five Things Most Veterans Don’t Know About VA Home Loans

by So Cal VA Homes
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Five Things Most Veterans Don’t Know About VA Home Loans The benefits of serving in the United States military are significant. Affordable healthcare, retirement pay and tuition assistance are just a few of the reasons why people join up. Many Veterans, however, aren’t aware that easy financing through VA home loans is an attractive alternative to traditional mortgage options in their journey to homeownership. Here are just a few of the ways VA home loans differ from other mortgage options: You Don’t Need a Down Payment Saving 20 percent for a down payment is a difficult proposition for most Americans. […]

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