In her recent visit to the National Association of REALTORS® conference in San Diego this year, Robyn had some pretty interesting stats to share about VA Loans from Mark Bologna, Director of Loan Guaranty Service.

  • VA has a 2.1% foreclosure rate on loans, amazing considering that 98% of all borrowers do not put any money down on their home purchase.
  • VA also has no minimum FICO scores; however, the tracked average FICO score is 703.
  • The average purchase price is $208,000 with $6800 in liquid household assets.

Why is the default rate so low? Mark Bologna cites the character of the borrower. While serving in Iraq, they are helping rebuild a country and trust. They understand and 'get' the definition of commitment.

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San Diego, November 13, 2009

Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said the projections are enhanced by a tax credit expansion to more home buyers through the middle of 2010. “Given the success of the first-time buyer tax credit to date, and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” he said. “In fact, the credit is working better than first projected – it now looks like we’ll have 2.3 to 2.4 million…

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Following the lead of this month’s Business to Business progress theme, I will focus on three areas of businesses that exemplify impressive and innovative growth techniques.  Plonk, the 320 Guest Ranch, and High Country Rental shared their individual approaches to staying successful.  These entrepreneurs and countless other businesses are rolling up their sleeves every day to remain viable and growth-oriented.  Many companies in our area are expanding or differentiating themselves in order to keep up with the changing consumer and market demands. 

Located in the heart of downtown Bozeman, Plonk was established in 2002 in a historical building that was renovated over the course of a year, yet preserving most of the original décor.  Though opened as a…

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Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

  • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
  • Expands the credit to grant up to $6,500 credit to current homeowners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

Who…

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