VA-Guaranteed Home Loans are obtained by making an application to a private lending institution such as a bank, credit union, savings and loan, mortgage broker or a mortgage company. But, keep in mind that if you decide to buy a new home, that builder will want you to use their lender so that you can get the incentives.

Most of the mortgage brokers and mortgage lenders will have all the necessary forms and necessary papers for you to apply for your certificate of eligibility along with the loan.

If you already have your certificate of eligibility, tell the mortgage broker and bring it with you when making your loan application. The lender wants some assurance that you are qualified and eligible before accepting your application. Also keep in mind that many mortgage brokers and lenders will discuss what is necessary for the certificate and for making a VA-Guaranteed Home Loan without seeing the certificate of eligibility. InColorado, many veterans drive toDenverto get their certificate of eligibility, so even if you have not obtained a certificate, do not hesitate making an application to a lender for a loan just because of that reason.   

To reduce delays in the processing of the loan, you should be prepared to give the lender the following;

                Your complete name and address

                Your employee Identification numbers for present and past employers covering a two-year period

                The location and account numbers for savings and checking accounts.

                Details about all open and recently closed debts and obligations

Veterans using a VA home loan program must pay a funding fee, which is usually added into the loan. Veterans receiving disability compensation are exempt. The funding fee can usually range from 3.3% for veterans who are subsequent users of the VA home loan program. The funding fee may be paid in cash or included in the loan.

Reasonable closing costs may be charged by the lender. These costs may not be included in the loan. The following items may be paid by the veteran purchaser, the seller or shared: VA appraisal, credit report; loan origination fee (usually 1% of the loan); discount points; title search and title insurance, recording fee; state and/or local transfer taxes (if applicable); survey Closing costs may vary among lenders and also throughout the nation because of differing local laws and customs. No commissions, brokerage fees or “buyer broker” fees may be charged to the veteran buyer.

Interest rate on VA loans can be negotiated based on prevailing rates in the mortgage market. Once a loan is made, the interest rate set in the note will stay the same for the life of the loan (except in the case of adjustable-rate mortgages which can change periodically). However, if interest rates go down and you still own and occupy (or previously occupied) the property secured by a VA loan, you can always apply for a new VA loan at the lower interest rate.

 You may ask what is VA-Guaranteed Home Loans are exclusive to Military personal and their families. VA-Guaranteed Home Loans are made by private lenders to eligible veterans for the purchase of a home for their own personal occupancy. VA-Guaranteed Home Loans are intended to encourage lenders to offer veterans loans with more favorable terms.

 What can a VA-Guaranteed Home Loan are used for?  It is used to buy a home, condominium, townhome or a co-op and to build a home. It can also be used to repair, alter, renovate and improve a home. To improve a home by installing energy efficient features ( solar heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by both the lender and VA. It is also being used to refinance an existing home loan to reduce the interest rate.

 What are some of the advantages of a VA-Guaranteed Home Loan? Well to start, there is equal opportunity for all qualified veterans to obtain a loan with no down payment (unless required by the lender or if the purchase price is more than the reasonable value of the property. These no down payment loans are up to the Freddie Mac loan limit for the county where the property is located.  What is also great is that the interest rates are negotiable, there are limitations on closing costs, mortgages are assumable (which are very appealing these days), long amortization (repayment) terms, no private mortgage insurance premiums, the right to prepay without penalty and VA assistance to veteran borrowers in default due to temporary financial difficulties.

•  There are 7 easy steps to a VA-Guaranteed Home Loan;
•             1. Apply for a Certificate of Eligibility or have the lender apply.
•             2. Decide on a home that you want to buy and sign the purchase agreement
•             3. Select a lender that will work with you and complete a loan application
•             4. Get the lender to order the appraisal from the VA
•             5. The lender will notify you about the loan
•             6. Attend the closing
•             7. The lender applies to VA for evidence of guaranty.

 This is just a brief overview about VA-Guaranteed Home Loan and you may not realize that now is the time to buy, builders are giving huge incentives to buyers that buy their homes, prices and interest rates have never been better. I also realize that many of you say that you just want to rent because you do not know how long you will be stationed or if you will like Fort Carson and Colorado Springs, but because the of the prices and the bargains that are currently in the marketplace, you could be owning a home that will be cheaper than rent, plus you will be able to take the great tax write-off because you own the home rather than paying somebody’s mortgage and they can take the tax write-off.

 I encourage you to explore all your options when moving toFortCarsonandColorado Springs. Because many real estate professional and lenders in Colorado Springs are expert in handling military relocations and can close a home purchase very quickly, so please explore all your options before making any decision. Currently, there is a 2% occupancy rate in the rental market, driving the prices up and by buying a home, you would be investing in your future, have a fix monthly payment, get a great tax write-off and could find a great home that could be cheaper than what you would pay in rent.

       The Pikes Peak region provides a very diverse and vibrant military presence unique only to a few locations in theUnited States. This region is home to not only five military installations, but is home to operations of the North American Aerospace defense Command, U.S. Northern Command, Air Force Command, U.S. Army Space and Missile Defense Command/Army Strategic Command, Missile Defense Integrated Operations Center, Space Innovation and Development Center, Joint Functional Component Command/Integrated Missile Defense and the National Security Space Institute with their missions ranging from training and educating tomorrow’s leaders and professionals for all our services to fight terrorism and maintain vigilance for Homeland Defense and Security.

 No Better time to buy a home!!!

      There are numerous communities surrounding these installations that offer great opportunities for home ownership as well as rental opportunities. But, the new home builders are offering huge incentives for the home buyer, especially first-time home buyer or if you are military. There are many factors to consider when making the decision between renting vs. home ownership, plus there are tax implications in each decision. There could not be a better time to buy a home than right now because of the following reasons: record low interest rates, huge incentives available in the market place and that home prices are at new historic lows due to the soft market. Over the past year, rental prices have increased offering less to the renter than home ownership. It is well advised to explore all options before making any decisions and get familiar withFortCarsonand the surrounding areas. So, there are special programs that are available that will allow you to “House Sit” or be a “House Tender” while making your decision.

Well you just received your orders to move toFort Carson,Coloradoand one of the first questions is about Housing. There are several situations to consider: Renting a home, Buying a Home or House Sit a Home.

Buying a home may be something to consider since you qualify for the Military Home Rebate, where you could save up to $5,000 on Your Military Relocation

There is a special program that is available to honor our brave men and women in our Armed Forces, it is an unprecedented benefit to active duty military. By joining forces with other industry professionals that share in our appreciation for the military and believe in delivering a high standard of service, we’re can offer our military homebuyers a combined savings of up to $5,000 and we want you to know that your needs are our top priority. Many have benefits from this program and have already saved military homebuyers over $1.5 million.

There is another exciting program available that allows you to house sit and stage a home that is for sale. There are some requirements and some advantages to this program, the lease is month to month and it allows you the luxury of taking your time when deciding to buy a home or just to look at the available homes for sale or rent.

The good thing about moving to FortCarson is that we can move very quickly on getting you into whatever you are desireing  for housing.

Looking for a way to commemorate the tenth anniversary of Sept. 11, the World Arena hosts “Faces of Freedom.” This mega event will include music by “American Idol” winner Josh Gracin, Tyler Ward, Wounded Warrior Music, Darden Smith, Radney Foster and Jay Clementi. There will also be video documentaries, a Faces of Freedom Ceremony and more.

When: 4 p.m. Sunday, Sept. 11, 2011

Where: World Arena,3185 Venetucci Blvd.

Cost: $9.11; worldarena.com or 520-7469.

Tickets in the grandstand are $11-$17, with a military discount on some seats. Tickets are half price for children under 12 for evening shows and $1 for the matinee. Free preshow activities begin at 4 p.m. in front of the stadium, such as gold panning, a stick horse rodeo, a trick pony show, performing pigs and a trick roping demonstration. For a fee, children can take part in Mutton Bustin’from 4-6:15 p.m., pony rides and bounce houses. Tickets are available at Norris-Penrose Event Center, 10445 Lower Gold Camp Road, as well as King Soopers stores and http://www.TicketsWest.com. Visit http://www.coloradospringsrodeo.com/ for more information on the rodeo!

Widefield Country Club Estates is a neighborhood located in the small, quiet town of Widefield, Colorado about 15 minutes from the Fort Carson Army Post; Just south of the city of Colorado Springs.It is home to many military families . The neighborhood of  Widefield Country Club Estates has homes that were mostly built in 1969-1977 and is located up from the intersection of Fontaine and Widefield Blvd very close to Widefield  Park . These well built, older homes can usually be found at a good price and are convenient to Fort Carson and offer affordable housing options off post.

Kathy Tutko/ The Skora Team

Your Fort Carson GoArmy Homes Relocation Specialist

When you’re ready to move, we’re proud to serve.

It’s great time to buy real estate in Colorado Springs

Cheyenne Mountain reflected in Spring Lake

Support Our Troops of Fort Carson, Colorado Springs by Donating Your Vehicle to Purple Heart Cars.

I just recently came across a webiste and place that allows you to Donate your car, truck, rv or boat to Purple Heart Cars and receive an IRS tax deduction. The car donation process is quick and easy and it included towing which is free. They will even provide vehicle pickup within 24-hours if necessary.

Donate Your Old Car Today! Call Purple Heart Cars toll-free at
1-888-360-2015 or fill out our car donation form.

Purple Heart Car Donations Benefit Wounded and Disabled Veterans
Generous car donors make it possible for Purple Heart Cars to provide a variety of local programs for disabled veterans. The Military Order of the Purple Heart Service Foundation is a non-profit organization that is dedicated to helping disabled and wounded veterans for over 75 years.

Over 500,000 donors have trusted Purple Heart Cars with their vehicle donations. In fact, many of our donors have found the donation process so convenient and rewarding that they have become repeat donors.
There are many reasons to donate your old car, truck, boat or rv to help disabled and wounded veterans. Below, we have outlined at a glance Car Donation Information and the Benefits of Donating Your Car to Purple Heart Cars.

                                                  Car Donation Information:
•Purple Heart accepts any car, running or non-running.
•All items donated to Purple Heart are 100% tax deductible.
•Purple Heart provides free towing.
•24 hour towing service is available.
•Purple Heart issues donors an IRS tax-deductible donation receipt.
•Donors must have a title with no outstanding liens for their donated vehicle.
•Purple Heart has convenient drop off locations if you wish to drive in your vehicle.
•Our office hours are Monday through Friday 8:30AM to 6:30PM (EST) and Saturday 8:45AM to 5PM (EST).
•Boats, RV’s, and motorcycles are also accepted in most cases.
Benefits of Donating
•You get to help veterans and their families, while saving money in taxes.
•Donating your car may be more beneficial than trading in your car.
•Avoid expensive repairs.
•Avoid the hassles associated with trying to sell an automobile such as:
Strangers coming to your home
The high cost of advertising
Not finding a buyer for your vehicle
Dealing with complaints the buyer may have in the future

If you’re in town this week, plan on coming out and supporting your heroes! All events are free, open to the public, and held all around town at locations such as the U.S. Olympic Training Center, the United States Air Force Academy, Memorial Park and Fort Carson. And even if you aren’t living in Colorado Springs, you don’t have to miss out! Some events will be streamed live online. Among the sports athletes will compete in are archery, cycling, basketball, shooting, swimming, track & field and volleyball.

The Warrior Games are just one of the many major sporting events held in town in the past few years. In 2008, the Broadmoor golf course was home to the U.S. Senior Open, and this summer, it will host the 2011 U.S. Women’s Open. It’s an exciting time to live in Colorado Springs.

For more information about the 2001 Warrior Games, including the event schedule and online streaming information, check out their website at: http://usparalympics.org/usoc-paralympic-military-program/warrior-games-presented-by-deloitte.

                                                Ownership Advantages

• Purchasing a home is a very important decision and will prove to be a sound investment as well as an excellent decision.
• It‘s all yours. freedom from any restrictions that are traditionally imposed on renters.
• Pride of ownership when living in an area where home owners have a vested interest in their property.
• Freedom from your rent increases.
• Building equity in your future.
• Keep up with inflation.
• Stability.
• Security for your retirement.
• Leveraging your money.
• Pay back on improvements.
• Trade-up value.
• Decorate it to your own taste.
• Real estate over time is a stable investment.

                                  Buying Strategies

• Be “Pre-Approved” not “Pre-Qualified.” Sellers are aware that being “Pre-Qualified is worthless because nothing has been verified.
• Don’t buy anything on credit. This affects your credit score and could cause you to lose the home. Make up a “Your Dream Home Wish List” Sell first, and then buy your home. You will lose thousands of dollars, if you look first then sell.  Stop calling on ads, signs and for sale by owners. Pick your agent and work only with them, they will get all the information for you on any property.    

                             Mistakes That You Can Make

• Not understanding the market and what’s available.
• Trying to see everything in your price range and everything else.
• Not understanding pricing and the value of certain amenities.
• Weak negotiating, which can cost thousands of dollars.
• Not requiring the proper inspections.
• Not understanding all available financing.
• Looking for that perfect home.
• Not previewing schools, shopping, and other neighborhood amenities.
• By not utilizing an agent when purchasing your home to help avoid common mistakes.

                                               Things Every Buyer Should Know

• Property taxes and interest are deductible on your federal income tax return.
• Your home is your largest asset and is considered one of the safest investments.
• Qualified mortgage interest and home equity loans are deductible for income tax purposes, where rent is not.
• Only a portion of each amortized mortgage payment goes toward the principal.
• A home is one of the few investments you can enjoy by living in.
• Your agent can show you any home, whether it is listed with a company, builder or is even a For Sale by Owner.
• There are many disadvantages working without an agent when considering purchasing a For Sale by Owner properties.
• Being pre-approved determines the price range for your new home, while giving you confidence when negotiating offers.
• Your agent can provide you with a list of items that you’ll need for your loan application.
• After acceptance of the contract, a clause within the purchase agreement, allows you to conduct a property inspections.
• A home warranty provides coverage for selected items……If one is not provided, you can purchase one yourself.
• Ask your agent if they are familiar with the neighborhoods you want to live in.
• Working with an agent who has a “team” will assure that the transaction will be handled smoothly.
• The properties that are priced right and are in the best condition do not last!
• Remember, Tuesdays, Wednesdays, and Thursdays are best! Weekends are worst!
• On weekends, you will usually find yourself in multiple-offer situations, and when competing, you’ll always pay more!