What is a VA Assumable Loan ?

A VA assumable loan refers to a mortgage loan that is backed by the Department of Veterans Affairs (VA). It can be assumed by another eligible borrower. When a VA loan is assumable, it means that a new buyer can take over the existing loan and assume responsibility for its terms and conditions.  In a typical home sale, the buyer secures their own financing by applying for a new mortgage with whatever bank they choose. However, with an assumable VA loan, the buyer has the option to assume the existing loan of the seller. This assumes they meet certain eligibility criteria set by the VA. This process is done with the bank that is servicing the current loan. Assuming a VA loan can be advantageous for the buyer because they may be able to take advantage of the existing loan’s favorable terms, such as a low interest rate or a […]

Continue Reading

5 Ground Rules for Home Buying Success

There are few purchases in life that carry the financial and psychological weight of buying a home.  Whether you are buying your first home, moving up to your dream home, or downsizing your home and your life after the kids have gone, it is important to understand the ground rules for success in the world of buying a home.  Making the wrong decision in buying a home can have devastating and long-lasting effects, while making a wise decision in home buying can greatly enhance the overall value of the investment.  It is necessary to learn all you can about the world of home buying and mortgages before setting out to purchase the home of your dreams. While there are plenty of web sites designed to help first time homeowners learn all they can, most financial experts say that there is no substitute for the good old one-on-one learning. Fortunately, most […]

Continue Reading

The Buzz About Tankless Water Heaters

Property owners in the Greater Seattle Area, as well as around the country, sometimes face an important decision: selecting a new water heater. Should you purchase a conventional water heater with a large tank, or a newer “tankless” brand? This brief article will discuss some of the pros and cons associated with the installation of this technology. The Development of Tankless Water Heaters Today, it startles most people to realize the concept of hot water on demand remains comparatively modern. An Englishman named Benjamin Waddy Maughan reportedly patented the first rudimentary water heater in 1868. Known as the “Geyser,” this Victorian Era device heated water immediately before it entered a bathtub.(1) The invention served as one inspiration for the modern tankless water heater. During the Twentieth Century, the concept of using a big tank to supply a steady stream of warm water directly to a residential plumbing system gained popularity. […]

Continue Reading

Are You Getting the Most House for Your BAH?

Are You Getting the Most House for Your BAH

Home buying is such as important endeavor for families and individuals.  It is such a huge financial move that you want to make sure you are on the right side of things when you pick that perfect starter home or forever dream home. I remember my experience buying our first home, and MAN what an experience that was.  I will write a whole separate post on that journey.  However for now, I took to the experts to get all the best tips on buying your first or next home. Tips to Ensure You are Getting the Best Deal Tips from Realtor Lauren Taylor 1. Start with Virtual House Hunting. Ask your Agent what type of tools they use to facilitate long distance house hunting. Our buyers benefit from house hunting for months prior to when them arriving at their new duty station. It’s saves homebuyers time and money in the […]

Continue Reading

You Should Try This Revolutionary Tool to Home Buying

Savvy Homes

Only some people know about my first home buying experience. It was crazy. We lived in Maryland and got orders to Georgia, April 1st. But wait, we were moving in June.  We had to determine our housing situation and quick.  Would we live in housing?  Would we rent?  Was it finally time to buy even though we would only be there for 3 years. We spent two days in Georgia – TWO! Checked out base housing – NOPE.  I wanted to avoid that if possible, not because I don’t like base housing (we were living in base housing in Maryland), but it didn’t bode well for our situation. The rental market – well that didn’t work well either.  All of the rentals that were big enough for our family were $400 over our BAH – ugh! So we drove down and spent two days from our vacation to look at […]

Continue Reading