LowVARates

  • Refinance

  • Purchase

  • Apply Now

Archive for the ‘General Veteran Information’ Category

Top 10 Most Notable Historic Sites for Veterans

Monday, February 22nd, 2010

Would you like to gain more appreciation for the veterans of our country? Or maybe you are a veteran and you would like to pay respect to your fellow service men and women? There are places all over our nation to do so.

Arlington National Cemetery is one of the most notable sites for veterans to visit and remember their fallen comrades before them. It is located just outside Washington D.C. on grounds of the estate formerly owned by the family of Robert E. Lee’s wife Mary Anna Lee. It was established during the American Civil War, but now veterans and military casualties from every war since are buried in this cemetery, bringing the total buried to over 300,000.  There are over 70 sections to the cemetery remembering different wars. There are also many other memorials, such as a section remembering the military nurses, the men who lost their lives aboard the USS Maine, the crew of the Space shuttle Challenger, and the Tomb of the Unknowns. The Tomb of the Unknowns represents all of those who lost their lives and have never been identified. There is one man from each war entombed and it is constantly guarded each day. This is a great place to visit and remember all who have lost their lives in battle for their country.

The Iwo Jima Memorial is a statue just outside the walls of Arlington National Cemetery. Based off of a photo taken during the Battle of Iwo Jima, it shows soldiers raising the American flag during battle. It bears two inscriptions that explain its importance; “Uncommon Valor Was a Common Virtue” and “In honor and memory of the men of the United States Marine Corps who have given their lives to their country since 10 November 1775″.

Iwo Jima Memorial Arlington VA

The Vietnam Veterans Memorial, located in Washington D.C. is a national war memorial that honors the U.S. armed forces who died during the Vietnam War or who have still not been accounted for. It lists the names of all of those killed during the war. It consists of the Vietnam Women’s Memorial, the Statue of the Three Soldiers, and the most known of the three parts, the Memorial Wall that lists all of the names. It is also surrounded by beautiful gardens.

The Korean War Veteran’s Memorial is also located in Washington D.C. to remember the men and woman who served during this war. It depicts soldiers marching through Korean terrain surrounded by a black wall mirroring their images. In front of them there is a pool of remembrance. Here people can come to pay respect to American bravery.

The Alamo located in San Antonio, Texas, is one of the most historic buildings in the U.S. The building was originally constructed as a mission in 1718, and moved twice before reaching its final destination in 1724. The Battle of the Alamo occurred in 1836, where over 150 Texans died including some of Texas’s folk heroes such as David Crockett, William Barrett Travis, and Jim Bowie. A nice little hint is to go late a night when the lights reflect the bullet holes. It gives it a more intense feeling that a battle really took place.

Pearl Harbor Naval Base in Honolulu, Hawaii was the scene of a major attack during World War II, where the Japanese targeted the U.S. On Dec, 7 1941, six Japanese carriers launched 183 planes at Ford Island, following with a fleet of 170 planes at Pearl Harbor. Unwarned the United State’s Navy had no idea it was coming. Nine ships were completely sunk, along with 21 damaged. Many men died that day to protect the base. Today the U.S.S. Arizona still sits under water in remembrance of this devastating day.

Gettysburg Battlefieldin Pennsylvania remains a historic site for veterans still today. The battle fought betweens July 1-3, 1863 was often considered the war’s turning point and also had the most casualties. It was here that the Gettysburg address was given by Lincoln, reminding us of the equality of all people. This battle changed our country and the fallen are still remembered today.

Fort McHenrylocated in Baltimore, Maryland, is a star shaped fort known for defending Baltimore Harbor against the British during the War of 1812 in the Chesapeake Bay. It was here that Francis Scott Key wrote the “Star Spangled Banner” as he saw the American Flag rise, giving hope to all of the American Soldiers who had given up. Fort McHenry is a symbol of hope and the American Spirit.

West Point Military Academy is a 4 year coeducational federal service academy that was established in 1802. It is located in New York and played a very important role in the Revolutionary War. West Point is the longest continually occupied post in the United States. It sits on the high ground overlooking the Hudson making it a good look out to prevent the British Ships from sneaking up on them. It is home to many historic sites, landmarks, and monuments itself. Candidates must be of the highest caliber to enter, and many times must receive nomination from a congressman.

The Indiana World War Memorial Plaza was constructed to honor the veteran’s of World War I. Located in Indianapolis, Indiana it was designed to be the headquarters of the American Legion and a memorials to the state and nation’s veteran’s. In a five block radius there is an obelisk, a memorial cenotaph, and the Indiana World War Memorial. The memorial houses a museum, the Shrine Room, and an auditorium all designed to honor veterans.

There are many more places around the country honoring veterans. As well there should be. These men and woman have sacrificed their time, families, and sometimes their lives for our freedom and happiness. We should be grateful and show our respect to them. By visiting these places we can gain a greater appreciation for the service men and woman of our country.

ABOUT LOWVARATES.COM

 For the past 20 years LowVARates.com has been dedicated to serving veteran homeowners. We specialize in providing VA loans to qualified veterans for mortgage purchases and refinances. These loans provide lower interest rates and monthly payments than other traditional loans.

 

VA loans are currently the only program left that allows no-money-down loans providing a secure mortgage option guaranteed by the Federal Government. Our professional staff and loan officers will assist you to lock in low interest rates and take advantage of the unique opportunity provided through VA loans

Top Concerns With Having a Home Security Alarm System

Wednesday, February 17th, 2010

When considering if an alarm system is good for you, there are a lot of questions that arise. Some may worry people and immediately turn them away from it, merely because they don’t know the answers to these simply questions. Are they hard to install and use? Will I benefit from an alarm system? How can I afford it? What about false alarms? Let’s go over the answers to these questions so your concerns of having a Home Alarm System are settled.

        Let’s talk about one of the biggest concerns of someone looking into an alarm system. How affordable are alarm systems? Will I be able to pay for it? This is an understandable question, especially in today’s economy. Lucky for us, the cost of many systems are reasonably affordable! Some companies only charge a few hundred dollars for a system. Others can charge a fee for installation and the equipment, but make up for it by lowering the monthly rates. And—this is the best part—some places provide FREE installation, and even better, if you qualify, they are willing to donate and pay for the monthly costs as well (for veterans).

        Another concern for some people is learning how to use an Alarm System. Alarm Systems have been simplified and less complicated to use, thus alleviated these concerns. All you worry about is memorizing a passcode number that you put in the alarm system after it goes off. They are extremely easy to use, and anyone can do it!

        A third concern is with installation.  Is it a lengthy process to install? The answer to that is no, not at all! In one workday you can have your system up and running.  Count on the process taking as few as 4-8 hours.

        False alarms are another concern people worry about. What if it happens so often it turns into a “crying wolf” experience? The nice thing about alarms it that you can immediately cancel them yourself when they go off so this won’t happen. A false alarm can occur for a few reasons. It may be due to a system malfunction or a pet or animal/insect setting it off. You can fix this by getting a newer model, which it can detect the size and weight of what might be setting it off, and will decide if it’s a threat or not.

        And finally, one last concern people may have about a home alarm system is that it won’t work if the power goes out or if the phone lines are cut.  This is nothing to be worried about because most systems have cellular

How veterans can use a VA loan to manage personal debt

Tuesday, February 2nd, 2010

With today’s struggling economy it seems like everyone is looking of ways to save on their monthly expenses.  If you are an average homeowner your monthly mortgage payment is anywhere between twenty-five and forty percent of your monthly income. This needs to be the first place you look to lower your monthly output, and right now couldn’t be a better time to take advantage of historically low VA interest rates.  Also if you have any equity in your home you could use that to pay off high interest credit cards or even car loans. Consolidating debt is a great way to get ahead on bills and stop paying your hard-earned money on re high revolving  interest.

 

The second place I would look to save money is insurance. Shop around for car insurance, take a higher deductable, get rid of unused protection so you can reduce your monthly premiums. I would also recommend shopping for cheaper health insurance, and homeowners insurance.  Did you know that installing and having a monitored home security alarm in your home could save you 20% on your home owners insurance costs?

 

I would next look at what seems to be costing a lot of money that perhaps you could live without. How much are you spending on going out or entertainment, set a reasonable budget and limit yourself to those set amounts.

Best Places for Veterans who have returned from deployment to visit in Florida

Saturday, January 30th, 2010

 

There are several places in Florida that you can visit if you recently returned from deployment or perhaps are a veteran and want to spend time with either friends or family.

The best family friendly spot would be Orlando Florida. Orlando is the home to Walt Disney World, Animal Kingdom, Epcot, Universal Studios, and Sea World. There are a number of affordable vacation packages which will help you save money and also save on travel time as well. If you have kids they will always be very entertained by the large amount of rides along with a number of different parks within a few minutes of each other. The area is also great for adults or those without children as well. There are a number of extreme water parks in the area as well. Some of the favorites are Typhoon Lagoon, Blizzard Beach, and Wet ‘n Wild. I personally have visited all of these parks in the last 2yrs. They are a blast and definetely a place worth spending time at with your family and friends.

 

    grand_floridiandisney-worldtyphoon lagoonblizzard_beach_toboggan

The best place to visit if your looking for a social time and some great food is the Miami/Ft. Lauderdale area. I lived in the area for 2yrs and was a great place to live and also an even better place in my opinion to vacation. A very popular place is South Miami Beach. This is where a lot of people go to lay out and also enjoy some great food on Ocean Drive. There are a number of clubs in the Miami Beach area you can choose from along with 5 star restaurants and resorts. In my own opinion i suggest staying at Loews on Miami Beach. It has direct beach access as well as being within walking distance of Ocean Drive. There are a number of restaurants you can choose from like Emeril’s at the St. Moritz, China Grill, 510 Ocean, and DeVito. If your looking for more of a casual budgeted place to eat they have Jerry’s Diner which is right across the street from Loews Miami Beach. My Favorite is the 11th Street Diner which i tried after seeing it on Food Networks Diners, Drive ins, and Dives. Its awesome food and very good priced. Just south of Miami there is an area called coconut grove which is home to a small shopping and eating area called Coco Walk. There are several places to eat and also great shopping as well. Its very accessible and a wonderful place to enjoy both day and night.

 

loews miami beach  eleventhStreetExtM

The best place to visit if your looking for diving/snorkeling is Key Largo Florida and the Florida Keys. There really isn’t a whole lot in the Florida Keys. Its a very slow moving atmosphere which is nice if your looking to relax. There is one place i would recommend staying in Key Largo which is the Marriott Key Largo Resort. Key Largo is world wide known to be the Dive Capital of the world. There are a number of places in the northern keys that you can snorkel. In Islamorada which is just south of Key Largo there are a number of fishing tours ranging from deep sea fishing to shark fishing. Also a number of Dive Tours are down there as well.  One thing to see that is very popular is the “Christ of the abyss” underwater statue. A number of people say that they have been marked by the statue when they have touched it by in reality its just covered with Fire Coral which burns and leaves a mark for a short period of time. christstatue key largo resort florida_keys_map

These are just a few of my suggestions for vacation after a long deployment no matter what branch of military you are in. All these places are fun and full of things to do ranging from relaxation to having a blast doing whatever you could possibly imagine. I’ve been to these places personally and hope that its something useful coming from a person who likes to travel.

Lastly, if you go here on travel you may quickly find the relaxing lifestyle very convenient for veterans living in florida and you may want to move to florida so be careful!

-MATT FUGAL

Top 5 military nonprofits

Wednesday, January 27th, 2010

Top 5 military nonprofits and why

 

A way for many Americans to show their support for the troops and those that are out there risking their lives for our country is to donate to the different charities. Here are the top five charities for military.

 

1. The Fisher House Foundation

The Fisher House Foundation program is a private-public partnership that supports America’s military in their time of need. They provide a program that recognizes the sacrifices of those in military service by meeting a humanitarian need that is beyond what is normally provided by the Departments of Defense and Veterans Affairs. There is at least one Fisher House at every major military medical center. They help families in need, making sure that they provided with comfortable homes and a supportive environment. Annually, the Fisher House program serves more than 10,000 families, and they have made nearly 2.5 million days of lodging available to family members since they started the program in 1990.

2.  Navy-Marine Corps Relief Society

Navy-Marine Corps Relief Society, founded in 1904, operates nearly 250 offices at Navy and Marine Corps bases throughout the world. Their mission is to provide financial, educational, and other assistance to members of the Naval Services, as well as, eligible family members, and survivors. They are committed to ensure that all available resources are used to assist personnel of the Naval Services, whether they are active or retired, to achieve the financial self-sufficiency that they need.

3.  Special Operations Warrior Foundation

The Special Operations Warrior Foundation, founded in 1980, provides support and assistance to the U. S. military’s special operations community. Their mission includes two major aspects in support of special operations personnel: providing a full college education to the surviving children of those who lose their lives while serving in the U.S. military special operations community, and also providing immediate financial assistance and support to ensure that severely wounded personnel are able to have their loved ones at their bedside during recovery.

4.  National Military Family Association

The National Military Family Association was organized in 1969 as the National Military Wives Association by a group of wives and widows seeking financial security for survivors of uniformed service personnel and retirees. They developed the Survivor Benefit Plan and been in the vanguard of advocacy for improvements in the quality of military family life. The name of the organization was changed, replacing the word “wives” with “family,” in 1984 to reflect the broad scope of their involvement.

 5.  Protect Our Troops

ProtectOurTroops.org was started in 2009 and is a brand new charity.  Protect our Troops is currently working on establishing its 501c3 status and looks forward to assisting as many military families as possible.  P.O.T was started for soldiers by soldiers when its founder realized during his time in the army national guard that there was a major need for home security and protection for the loved ones of military families nationwide.  It is the goal of P.O.T to bring free security protection to every deployed troop and his or her family.

Having a security alarm in your home is important

Tuesday, January 19th, 2010

Having a home security system is very important. It is a standard in most business and many people now want them in their homes. There are many different options ranging from the simplest system that you can set up yourself to a complex network that must be installed for you. They are very reasonable in cost, while making your home safer and more secure. Here are just a few reasons to consider getting a home security system.

The number one reason to consider purchasing home security is personal safety. If someone is going to break into your house, they are not going to be concerned whatsoever with the wellbeing of anyone in your house. Protect yourself and the people in your home by installing an alarm system to deter anyone trying to break in or attack anyone in your home.

Along the same lines as personal safety, is the safety of your property. Thieves may break in at any time. They may take things of obvious value, such as a TV or jewelry, but also things you may not realize were valuable. Having a security system is going to save you money in this case.

Did you know that having a home security system will also increase the resale value of your home? It is one of the top things that people look for when looking to purchase a home. Adding financial value to your home is a great bonus!

Another way a security system can actually help you save money is that it can lower your insurance! In some cases just having the monitoring device, has been known to lower a monthly payment up to 20 percent. If your home has already been broken into, insurance companies suggest that installing a security system will help lower your rates.

A break in is going to take more than just valuable items. It is going to take away the feeling of safety in your home as well. Giving you peace of mind is one of the main reasons to get an alarm system installed in your home. Knowing that you and your family will be safe at night, and during the day will bring you a great comfort. Even knowing your possessions will be safe while you are away from your home should make you feel safe.

Now it is up to you to decide which kind of security system is right for you. There are many kinds. They vary from a basic alarm that usually include, sensors on the doors and windows, an outdoor lighting motion sensor, and a link to a monitoring service, to the more high tech systems. Some systems include fire detection as well. Many of these can be researched online or you can call a local company. It is important to research based on where your live, what kind of home you have, and what you can afford. Now that you have seen all of the benefits, don’t waste anymore time, and get a security system today!

If you are a veteran home owner we invite you to visit Protect Our Troops, a military charity that is attempting to bring free security alarms to Troops and their families across the nation.

Why veterans should purchase a new home in 2010

Tuesday, January 5th, 2010

While I have worked in the VA loan industry there have been many Veterans ask the question, “why should I purchase a home in 2010.” Some veterans are scared that they won’t get the best deal possible and are waiting for something better to come along.  The truth is that 2010 will be the best year historically to make the decision and purchase a home with a VA loan.   Some of the reasons are as follows:

Prices Are As Low as They Will Get

Prices on both new and existing homes have dropped 15-65% in many parts of the country, especially in florida and california and there has been a slowing in the falling prices. In some parts of the country people are beginning to see a slight increase in prices from which most experts think that the decline of the housing market has hit rock bottom and is on the rise.  So while shopping for a house in 2010 it will be much easier to find a better deal on something that will probably appreciate more rapidly than ever before.  Making it the best time to buy, but the longer the procrastination the more the market will rise and the harder it will be for Veterans to get the better deal.

Financing for Veterans is Not a Problem

While there have been many changes to getting approved to purchase a home and is nearly impossible on the conventional side of things the VA makes it a lot easier to get approved on a purchase.  As long as your credit is decent you are pretty much approved,  there is no down payment required, and in today’s market most sellers will even offer to pay the closing cost (which otherwise would have to be paid by the borrower).  Here at Flagship Financial we specialize in only VA loans we are fast and know the easiest and fastest way to get an approval in just three weeks to a month.

The New 2010 GFE

Sunday, December 27th, 2009

 

Well the time is upon us, 2010 is nearly here and with it we will see a myriad of changes in mortgage lending and the industry in general.  Most importantly of all these changes are imposed by nearly exclusively by “big brother”.  So only time will tell if they will indeed help the average consumer be more informed and help them to understand what fees they are paying for and whom them went to.  Right from the outset, let me say I don’t think the new GFE is easier to read and understand.  Furthermore, it is at least twice as long as it is now, and it  seems to me and many to be twice as hard to decipher.

Now with that said let me outline just a few of the “highlights” of what the proposed “improvements” are going to require, thanks Federal Government for sticking your nose in yet another industry that doesn’t need it.  They take effect on January 1, 2010.

The GFE provides the potential mortgage applicant with cost details associated with closing the loan.   GFEs have not been standardized and commonly they are different looking state to state and loan type to loan type.   For example in Texas on a VA loan it may not look identical to lets say a Conventional loan in California.  Even after 7 years in the mortgage industry some are still a jumbled mess.  Also GFEs have been just that, estimates, not an actual amount because it is nearly impossible to know what the actual charges and payoffs etc are going to be on a loan before the loan officer has the opportunity to see the “numbers”. 

That seems to be a prevailing factor, that the new GFEs be accurate, or more so.  Normally I would say initial GFE’s have been off by 10-15%.  The new rules will create a standardized, three-page GFE and require that the itemized list of estimated fees and charges be accurate. This is supposed to make it easier for borrowers to understand what charges are involved in their proposed loans.  It will allow for a very small variance in the charges.

These new rules also apply and attempt to standardize the HUD, commonly called the settlement statement.  The list of actual fees and charges the borrower has to pay. The new settlement statement or HUD also will be three pages long and will include a chart on the last page attempting to show the borrower to compare the estimate charges in the GFE with the actual charges paid. 

Well that is the short of it, certainly there is more involved but you get the idea and I hope it will be beneficial to everyone.

New 2010 Good Faith Estimate (GFE)

Wednesday, December 23rd, 2009

 

The new Good Faith Estimate that arrives in 2010 is a way to allow you as the consumer to see exactly what your settlement charges are and will be. It provides much greater transparency to the consumer. The problem with the new GFE is that it advocates shopping for the lowest cost loan, which we all know doesn’t always come with the best available service. I believe this new good faith is going to lead to a lot of heartache for borrowers interested only in pricing. Having an educated, experienced loan officer that can discuss your goals and objectives for the given loan is a critical component of loan shopping. Here at Flagship Financial you will get great customer service along with very competitive pricing. Nobody has spent more time and energy becoming nimble to the changes in this marketplace than Flagship Financial.  I anticipate that we will continue to adapt and show resilience in this ever changing market. If you look at our track record it is quite compelling when you see the number of Veterans and FHA homeowners we’ve helped thru the years. The one area of the GFE that makes complete sense to me is the tradeoff table. Using the table will allow a borrower to see exactly what the tradeoff is between lower interest rates and lower costs. However it doesn’t compare the overall savings associated with these changes. The new GFE is longer (3 pages) and will provide more disclosure and seems easier for the consumer to identify what settlement charges will be at closing. It will require a further inquiry as pertaining to qualifying before quoting an interest rate. There will be no more GFE shopping taking place among competitors until a thorough investigation has been done to determine eligibility. The consumer will have to realize before receiving a quote from a broker or lender he/she may be asked to provide authorization to pull credit prior to receiving this new GFE. Initial quoting of interest rates will be given in a range, understanding that there are number of factors that determine pricing.

Top 5 Reasons to Choose Mortgage Broker as a Career

Sunday, December 20th, 2009

Why on earth would anyone choose the be a mortgage broker in these hard economic times?  If given the choice with all the issues in the housing market you might think me or anyone else a fool and you might be right.  I am here to dispel this myth and possibly shed some light on why being a mortgage broker can be a great business.  I have been doing loans since 2001, in fact it was right after the 9/11 tragedy.  Before becoming a mortgage broker I managed financial accounts with companies like Sprint, American Express and Fleet credit cards.  I worked for a company that handled these accounts which seemed to be good for me at the time.  I thought that I must work for the “MAN” to be successful and earn a decent wage, but I was wrong.  The company started downsizing and I took a 50% pay cut on my salary.  This was extremely bad for me financially because my wife stopped working and we had just had our first child.  I figured I must make a change because job security working for corporate America was not secure anymore.  Through a family member I started working as a Loan Officer for a company that specialized in nothing but Government Loans (FHA, VA).  I have since stayed on that career path.  Its proven to be more stable than any other job.

I alluded to being a fool at the beginning if one should choose to be a Loan Officer.  I have found out the if you have a niche market and a good business model you can be successful.  Being a mortgage broker has its benefits over working for a lender.  Look at Countrywide, Taylor Bean & Whitaker, etc.  They serviced mortgage loans and they are out of business.  Being a mortgage broker you don’t service your own loans and you are set up with multiple lenders which makes brokering loans more flexible and adaptable to an ever changing market.

Here are my own top 5 reasons to choose a Mortgage Broker as a career:

1.  Job Security – You are not a liability to the company (salaried employee).  If you don’t close loans then you don’t make money and you end up by costing the company nothing.  No one goes to work and says, “I’m not going to make any money today” which is the entire reason we work, so work hard.

2.  Schedule – You can make your own schedule.  Its up to you.  If you take more time off you make less money due to a lack of prospects.  The difference is you are in control, not your boss.

3.  Satisfaction of doing good – Seriously, its great to help Veterans and other families obtain a home.  Its much better than paying rent and its something they can call their own.  Knowing you played a very important part of that gives a certain sense of purpose and satisfaction.

4.  Money opportunity – Once again this is not like a salaried job where no matter how many hours you put in and how hard you work you end up by making the same.  Actually in a salaried position the longer hours you work the less you are actually making per hour.  Being a Loan Officer the harder I work the more opportunity there is to make money.  There is no ceiling, no cap on how much you can make.

5.  Industry Knowledge – Having a full understanding of how mortgages work can actually save you a lot of mortgage interest money.  If you understand how interest works, escrow and your loan program on your own home loan then you can apply the principles you learn and probably tell others to your own loan.

I have recently read on other blogs that mortgage brokers contributed to this house mess and that we have no place in the industry.  I will admit that there were probably many brokers who engaged in predatory lending, but to say that all mortgage brokers caused this would be ignorant.  As a Veteran prospective home owner please do some due diligence to avoid less than reputable brokers.  I owe a lot to this industry and Veterans.  My company specializes in VA home loans and this is our niche market which has been able to keep us busy and in business through all the difficult and uncertain times.

In summary – I would not have changed my career path what so ever.  The last 7 years have been very rewarding.