Most Veterans know about the Department of Veterans' Affairs Home Loan program, and think that it will help them get their first home. It is a great program, but before signing up for it take a look at other mortgage offers. When I bought my first home, I found a better mortgage offer from the Department of Agriculture. Everybody's situation is different, but in my situation, the option I chose worked best. I did not have 20% to put down on my home, and most mortgages, including VA Home Loans require 20% down or you have to pay an extra fee every month until you have paid your mortgage down enough. The Dept of Agriculture loan did not have that requirement, and I got a great rate.
Right now, with the rates as low as they are, it is important to look into buying a home if you have enough income. I figured it out a couple of years ago, and I could pay the same amount on a mortgage as I was in rent on a two bedroom apartment. With the rates as low as they were, and still are, I bought a $150,000 home and pay just over $1,000 a month. The great thing about that vs. renting is that the money I pay toward my mortgage goes into equity on my home and not to a landlord. I saw paying rent as throwing money away since I could afford to buy a house, and if you feel the same way you should talk with a real estate agent or a mortgage broker and take advantage of the low rates that are available today.
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Right now, with the rates as low as they are, it is important to look into buying a home if you have enough income. I figured it out a couple of years ago, and I could pay the same amount on a mortgage as I was in rent on a two bedroom apartment. With the rates as low as they were, and still are, I bought a $150,000 home and pay just over $1,000 a month. The great thing about that vs. renting is that the money I pay toward my mortgage goes into equity on my home and not to a landlord. I saw paying rent as throwing money away since I could afford to buy a house, and if you feel the same way you should talk with a real estate agent or a mortgage broker and take advantage of the low rates that are available today.
Loan modification is helpful to help you make your loan easy to pay if you are having difficulties in paying your loan with its existing terms.
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