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    Waiting to use your VA Loan? No bueno.

    Oct 5, 2020 8:29:33 AM

    So here we are again.  I had a great weekend camping with friends and inevitably we ended up talking about real estate, the market, and buying homes.  Our Fort Carson friend finally pulled the trigger this year on his first time home purchase. He had been renting for the past five years and initially was not certain if he should buy.  Afterall, what about the state of the economy?  What about Coronavirus, interest rates, the housing market, blah, blah, blah, blah.  Guess what?!  The housing market simply continues to climb.  Homes get more expensive.  Building materials go up. Prices rise.

    He admitted that it was our conversation in the spring that allowed him the mental freedom to purchase his first home.  He and his wife were so apprehensive about buying and weren't quite clear on the process.  Of course, having the founder of VHN sitting across the brewery table coaching him on the process, he lightened up and was under contract for a new construction home in Colorado Springs within the month.  He is buying a new construction home that will be ready in the spring and he has never been more thrilled.  Why? He locked in a record low VA Loan interest rate of 2.37%.  His home that they just poured the foundation for already has increased in value by $25000!  Those are real dollars!  If he were to write the same contract today for that home, his new price would be twenty five thousand dollars higher!  That's crazy and awesome!  He and his wife are super stoked they did not wait.  

    So how much does waiting for the "perfect time" cost you?  We could talk about the folly of throwing your rent money away.  That is just the baseline.  I have always told my clients over the years that you are always buying a home.  Think about it.  You are.  You are either buying a home for your landlord or you are buying a home for yourself.  Your choice.

    Check out this handy infographic brought to us by Keeping Current Matters.  Although we are currently at a much lower interest rate than on this graphic, it is easy to get the point.

    cost of waiting

    So here is what I propose based on my over twenty years in real estate following my awesome expedition to the sand box in Desert Storm....these numbers reflected above are mild.  In Colorado, the average home price is $418363.  This past year, even during the pandemic, home prices went up an average of 8.6%.  If you wait to buy, your average home will cost you $454342.  I don't know about you, but I would prefer to buy now.  You don't have to be a rocket scientist or work with Space Force to understand this. 

    So you may be wondering what it takes to use your VA Loan.  Maybe you wonder what you qualify for and how difficult it will be to pull the trigger.  Well, I assure you that is far less difficult than you would think and you can have answers within a few days....sometimes same day.  So what is your best course of action?  I HIGHLY recommend staying away from the larger companies that have many ads on the interwebs.  They DO NOT have your best interest in mind.  They are big and bulky and will not provide you with the best rates, service, or information.  So what we have done at VHN  to counter this huge negative military predatory machine is, we have assembled the best Veteran Realtors that have personal and meaningful connections with local lenders that are local to YOU.  These lenders have been vetted and through their relationship with a VHN Realtor, are guaranteed to offer the best rates, service, and experience. We have done the hard work for you so that you can find out how you can buy quickly, easily, and without a freaking headache or fear of being drug through the mud.

    So what are you waiting for?  Activate your get up and go and give us a call or email.  Advice is free, but waiting to buy will cost you!




    Michelle Roberts, an Operation Desert Shield/Storm Veteran founded Veterans Housing Network in response to the overwhelming need to provide honest, non-predatory, local Real Estate expertise and service to her military family