Guest post by James Kelley
www.VAbenefitblog.com

Owning a home in the same place where historic battles took place and parks as old as the United States itself exist can be a true treasure to pass down to one’s children.

Buying a home, however, can be a stressful process, especially if you go the conventional route. And if we’re talking about U.S. Veterans, men and women who have done so much for the country, the last thing they need is hassle.

But even other government-backed programs are saving everyday people from the burden of conventional loan processes. Programs like the VA, USDA, and FHA mortgage plans give people the chance to buy a home without the stress and heavy expense. How? All three programs have great perks and offer lower rates. Let’s take a look at them.

FHA LoanThe Federal Housing Administration insures the FHA loan. Unlike the VA and USDA loan, the FHA has no income limits or career type requirements. It’s open to anyone and everyone.

An FHA loan has lower closing costs. The down payment is about 3.5 to 5%, which is about three times lower than conventional loans. All of the government-backed programs allow families to use gifted or borrowed money to make payments or put towards a down payment, if applicable. Conventional loans do not allow money from sources in which a proper paper trail cannot be kept.

The FHA program is a favorite among many buyers especially low to middle income families because the credit and debt requirements are not super strict. With the FHA, it is feasible for anyone with past financial errors to work his or her way back up to a decent score and obtain the loan.

USDA LoanThe U.S. Department of Agriculture secures USDA loans. Only homes within rural localities can be bought with this mortgage program. Check with a USDA lender to see which areas around Savannah, GA are eligible for the program.

The USDA, like the VA program, does not require a down payment. Other perks include 100% financing, no monthly mortgage insurance fees, and the actual mortgage payment is sometimes lower than the FHA loan. One slight downfall is the USDA does set income limits to determine eligibility.

VA LoanMany veterans do not know about the growing popularity of the VA loan. Secured by the U.S. Department of Veteran Affairs, it offers amazing deals and an easy application process.
The rates are low, and there is no money down or monthly mortgage insurance.

VA loans can be guaranteed up to $729,000, in some areas. The average loan is about $207,000. There are no upfront fees, except for a possible appraisal fee, though having a service-related disability allows the lender to waive funding fees. The buyer and the lender, however, will still have to bring in a certified home appraiser as per the VA requirements.

To qualify, the service member must be able to prove that they served in the military for 90 days during wartime and 181 days during a time of peace. He or she must have been honorably discharged. Veterans, active duty personnel, reservists and National Guard members can qualify. Also, some surviving spouses might be eligible for the VA loan.

The Next StepTalk with a lending counselor today. They can help you decide which option will save you the most money.

Buying a Foreclosure

Interested in buying a foreclosure or a short-sale? Check out Keller Williams' Distressed Property E-book.

From KW.com:
The truth is: these markets demand most of the same things an ordinary market demands of buyers—only more intensely and pointedly:

Money: Buyers must be financially qualified and ready to buy. The best properties go quickly. Buyers must look strong to lenders.

Motivation: Buyers must be motivated to compete successfully. Keller Williams agents urge their buyers in this market to be clear about both their “motivating why" and their criteria for the property itself (size, location, condition, floor plan, etc.)

Location: Contrary to the rumors, prime buying opportunities exist in almost every neighborhood and price range.

Condition: Buyers should understand that repair costs are not necessarily large. The Keller Williams Distressed Property Buying Survey shows the average cost to repair to be $5,000—that’s less than 3 percent of the median purchase price in the U.S. today.

Expert Help: Finally, smart buyers know they need to be even smarter—they become a team with a local expert agent who knows local property, pricing, lenders, and the best listing agents. A strong listing agent can be a critical advantage in seeing a distressed property through from contract to close.

Money Magazine selects Savannah as one of the 25 Best Places to Retire

CNNmoney.com

Savannah, GAPopulation: 130,300
% over 50: 29%
Typical 3-bedroom home: $225,000
State income tax: 6.00%*

A stroll through the cobblestone streets in the historic downtown will take you past antebellum homes and 22 small public parks. Savannah's layout reflects the meticulous planning of founder James Oglethorpe in the early 18th century. Today, the refined city combines Old South charm, romance and history with New South energy and progressiveness.

The prestigious Savannah College of Art & Design keeps the city young and has fostered a lively art scene. Art galleries throughout the city showcase both local and national talent, and residents can enroll in a range of SCAD Community Education classes. The bustling downtown also offers a host of shopping boutiques and quality restaurants.

Other perks for retirees: Savannah has a property tax freeze, so the city assesses homes following a purchase, but does not increase the assessment until that property is sold. Memorial Health University and St. Joseph's Candler's hospitals provide top-notch healthcare.

View the original article here: http://money.cnn.com/galleries/2009/moneymag/0909/gallery.bpretire_top25.moneymag/8.html

Keller Williams Realty Named Highest Ranked in Home Buyer Satisfaction by J.D. Power and Associates for Third Straight Year

AUSTIN, TEXAS (July 30, 2010) —According to the J.D. Power and Associates 2010 Home Buyer/Seller StudySM, Keller Williams Realty, Inc., the third largest real estate company in the United States, has received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row. The company also ranked second among home sellers in the study for the second year in a row.

“We are incredibly proud of our associates for earning this distinction and want to thank them for their commitment to their clients and communities," said Mark Willis, CEO of Keller Williams Realty. “We see this honor as demonstration of our company philosophy that it is the agent’s brand that matters most and no amount of money spent on advertising can replace the influence and reputations our agents have in their local communities. Our associates have earned this on their own, by building relationships in their communities."

The study was produced by J.D. Power and Associates to measure home buyers and sellers customer satisfaction. The results of the home-buying experience were determined by three factors including the buyer’s experience with their agent, the real estate office and a variety of additional services. Keller Williams Realty performed particularly well in the agent and office factors. And, overall satisfaction of buyers for the industry was up over last year.

Additionally, the study noted that the importance of real estate agents has increased substantially in the past year, with buyers and sellers relying on the negotiating skills of their chosen agent and help in navigating the market.

“It is thrilling to see our firm, once again, get public recognition for its incredible focus on customer satisfaction from such a prestigious group. Our associates continually demonstrate that it is possible to deliver the highest level of customer service in one of the toughest real estate markets on record," said Mary Tennant, president and COO of Keller Williams Realty. “We feel incredibly fortunate to be in business with them, and want to congratulate them on their hard work and dedication."

In the past year, Keller Williams Realty has continued to grow despite the well-publicized turmoil in the real estate industry. In addition to becoming the 3rd largest real estate company in the U.S., surpassing RE/MAX®, Keller Williams Realty was ranked as the No. 1 real estate franchise on the 31st Annual Franchise 500 list by Entrepreneur magazine and was voted the Most Recognizable Brand of Real Estate Franchises and the Trendsetter of the year for 2009 in an industry-wide survey for the Swanepoel TRENDS Report.