Overcoming Homebuying Challenges (with Chris Birk)

Overcoming Homebuying Challenges (with Chris Birk)

Right now, buying a home is choppy water. Or is it? My guest, Chris Birk, is here to talk to us about the current state of the housing market, details for VA loans, and the impact of the COVID-19 crisis on the industry. He helps us take a closer look at the CARES act and what it means for homeowners during this challenging and unprecedented time. Chris Birk is the Director of Education for Veterans United Home Loans, the nation’s largest VA lender, and author of “The Book on VA Loans: An Essential Guide to Maximizing Your Home Loan Benefits.” Chris’s articles and analysis have appeared at The New York Times, the Wall Street Journal, the Washington Post, Fox Business, and more.

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Overcoming Homebuying Challenges Episode Details

  • The impacts of COVID-19 on VA loans and home buying
  • The results of low-interest rates on refinances
  • Where the industry currently stands
  • How the military sector and active duty are being impacted (or are they?)
  • Interest rates are at an all-time low but VA buyers are facing a tough market
  • Importance of being pre-approved for a strong offer
  • What you should know about personal letters to sellers
  • Is now the right time to buy?
  • Why VA loans have a higher successful closing rate than conventional loans
  • Veterans are no longer facing limits with high loans requiring a downpayment
  • How COVID can impact the loan processing length
  • The response to COVID could move more of the process online in the future`
  • What to do if you’re experiencing income impacts from COVID-19
  • How forbearance works
  • An option that’s not available for VA loans
  • VA rates have a low rate of foreclosure, due to steps in the program to help veterans keep their home
  • The no interest or credit impacts from forbearance
  • Why you should keep paying (if possible) while in forbearance
  • Why no burden of proof is needed to receive the benefits of forbearances
  • The first steps to take if you have issues making a mortgage payment
More on home buying: Preparing to Buy a Home

Overcoming Homebuying Challenges Resources

More on using VA loans: Understanding VA Home Loans

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