PCS To Camp Murray

If you are anticipating a permanent change of station (PCS) to Camp Murray, you may be wondering what to expect amidst making plans to view properties and settle your financing options. This may also be a major milestone in your life and career, especially if you are moving with family. In this guide, we share with you some information that will come in useful for your move.

Location and Basic Information

Camp Murray is located next to the Joint Base Lewis McChord (JBLM) base in Washington. It is home to the Washington State Guard, Washington Army National Guard as well as the Washington Air National Guard. You will also find the Emergency Operations Center for the Washington Military Department located here. This serves as the headquarters for emergency responses statewide.

History

The base was first opened in 1855 during the Indian War. Shortly after, it was commissioned as a National Guard Base in 1889. At Camp Murray, you will find the Old Arsenal Museum, and it is here you can find out more about the history of the Washington National Guard.

Housing

Whether you choose to rent or to buy, you will find many housing options in and around Camp Murray. If you choose to buy, you will need to understand your options regarding the VA home loan. From determining your eligibility to checking your remaining entitlement, there are a number of things you need to do in preparation for purchasing your property, which you may require professional help with. Here is where our team at West Coast Veterans can step in to assist you.

Things to Do

There are many things you can do in and around Camp Murray. In fact, it’s a popular destination for camping, with the Camp Murray campground situated on the shore of American Lake. Here, you can hook up an RV or set up a tent. As the campground is only open to active and retired military personnel, Washington Military department employees, and authorized civilians, your family can enjoy a relatively peaceful getaway without jostling shoulders with the general public.

You can also visit Camp Murray Beach during your downtime or while you are on your camping trip. Some of the onsite facilities you can find here include a picnic area, boat rentals, showers, fishing spots, and more. It’s the perfect spot to enjoy some quality time with your family, keeping in mind that the maximum stay for a reservation is 30 days.

Let Our Team at West Coast Veterans Take Over PCS Planning for You

If you have an upcoming move to Camp Murray, you will have enough to worry about without stressing over how you are going to finance your new property. When that’s the case, let our professional team at West Coast Veterans step in and take charge of PCS planning on your behalf. For more than 20 years, we have successfully helped many military families and veterans make the move to Washington, and we can take care of the process for you too!

Since 2001, we've been assisting active-duty service members and veterans all over the state of Washington and in Puget Sound. Feel free to read all about us at www.PCStoJBLM.com.

What You Need to Know About FHA Loans in 2023

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It’s a new year and a new chance for many people to become homeowners. There are several mortgage products that are designed for first-time buyers; the FHA loan is especially helpful. Here’s what you need to know about them and the changes that have been made for this year.

What is an FHA loan?

It stands for a Federal Housing Administration loan, meaning it is backed by the U.S. government. It is not made by a government agency. You deal directly with a mortgage lender or broker to get the loan, but the FHA will typically buy the loan from the lender after it is made or guarantee the lender against loss. They require lower down payments and credit scores than most conventional loans, making them a clear favorite among first-time buyers.

What Are the Terms?

These loans can have terms of either 30 years or 15 years. The interest rate is fixed for the entire loan length. As long as borrowers have a minimum credit score of 580, they only have to contribute a down payment of 3.5%. Closing costs run between 3% to 5% of the loan total and up to 6% of those can be paid for by sellers, builders, or lenders.

FHA borrowers do have to pay mortgage insurance premiums for at least 11 years, not just until they reach 20% equity like with conventional loans. At the outset of the loan an upfront premium of 1.75% of the loan amount is due but can be financed into the overall mortgage. Then every year, the borrower will be responsible for an annual premium of between 0.45% and 1.05%, that is divided by 12 and paid monthly with the mortgage. If borrowers get tired of paying mortgage insurance, after a few years of timely mortgage payments and earning equity, they may be able to refinance into a conventional loan.

What Are the Qualifications?

To qualify for an FHA mortgage, home buyers need a FICO credit score of at least 500 and a 10% down payment, or a score of 580 or higher and a down payment of 3.5%. These loans also require a two-year employment and income verification and must plan to use the property as their primary residence. If they have had a bankruptcy, they must wait one to two years before applying and three years after a foreclosure. Lenders will also require that a borrower’s debts (mortgage expenses plus all other debts) are no more than 43% of their gross income.

What Are the Loan Limits for 2022?

Each year the Federal Housing Finance Agency sets loan limits for all government-backed mortgages. The limits are based on the average cost of housing in the country and certain regions. In 2022, for most parts of the U.S., FHA borrowers can take out a loan for up to $420,680, an increase from 2021’s limit of $356,362. For the priciest areas in the nation, like Hawaii, California, and Washington D.C., the loan limits are even higher: $970,800 this year, up from $822,375 last year.

With higher loan limits and currently low mortgage interest rates, an FHA loan might be the perfect tool to help you get into a home in 2022! Contact us today to find out more.

How to Prepare Your Home for an Appraisal in 2023

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After you’ve accepted an offer to sell your home, your property will be appraised to see if it's worth what the buyer is offering. This appraisal is crucial to making sure the sale goes through smoothly. If it comes in too low, the buyers might back out or you might have to negotiate a new price. If it comes at the purchase price or higher, then the sale can easily move forward. You might also need an appraisal if you are refinancing or taking out a home equity loan. In any case, there are ways to prepare your home to help it appraise for its highest value and save you extra headaches.

Curb Appeal

Your appraiser’s first impression of your home’s value will come from their first look as they drive up. The exterior condition will likely influence his or her thinking on the overall state of your property, so take care to make sure your curb appeal is real. Begin with the easy things like mowing the lawn, trimming bushes, and raking leaves. Then inspect your outside paint job to see if any touchups are in order, especially to the front door. Adding some colorful flowers in planter beds or in pots by the door can also make your house stand out.

Sparkling Clean

If your home is squeaky clean, it will give the appraiser the feeling that you as a homeowner have done a good job of maintaining the house. A thorough deep cleaning of your house, including easy-to-forget thinks like baseboards, pantry shelves, and window jams, can help your case tremendously. Shampooing carpets and getting rid of pet or other smells is also important. A good clean will also help you discover items that need fixing before the appraisal.

Minimalism

Certainly, appraisers are used to seeing homes with all their furniture and daily trappings, but a home that is decluttered and has minimal items to move out of the way will make the home appear larger and more attractive and make it easier for them to do their job. Pay special attention to the kitchen, living areas, and bedrooms where the most clutter tends to accumulate.

Minor Repairs

Take stock of your rooms and make sure everything is in working condition. Many appraisers follow the ‘$500 rule’ where each small problem deducts a full $500 from the appraised value. That means fixing even little things like drippy faucets or cabinets that don’t close properly can bump up your home’s worth by thousands of dollars. Be sure to look for burned-out bulbs, working smoke alarms, stair railing sturdiness, roof stains, and any plumbing issues.

Major Structure and Systems

The appraiser will assess your home’s foundation and roof for structural soundness as well as the HVAC system for effectiveness. If any issues are uncovered with these areas, it could either kill the home sale or result in a large profit loss for you. Before the appraisal check the foundation, ceiling, and walls for cracks or signs of water leaks. And your roof should have at least three food years left to be considered viable. If you can fix any of these problems ahead of time, your appraisal will come out much better.

List Improvements

Have a list handy for the appraiser of any upgrades you’ve made to the home, along with proof of receipts or contracts. This might include things like kitchen or bathroom renovations, finishing the basement, or installing new energy-saving features. If you have added value to your house over the years, your appraiser will likely factor that into the overall value.

After you’ve gone through this list, the final step is to do anything to make your home more welcoming and inviting. Open up all the blinds beforehand to let in natural light, add soft throw pillows on the couches and beds to give a cozier atmosphere, and throw in a pleasant scent to a candle warmer right before the visit. Every tiny detail helps when it comes to getting the most out of your home appraisal.

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