Home offers increased in January

The Federal Savings Bank found that January home offers increase year over year in January.

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VA and FHA home loans at The Federal Savings Bank

The Federal Savings Bank

January home offers increased by 40% more than they did in 2012.

Chicago, IL (PRWEB) February 09, 2013

The Federal Savings Bank found that the number of customers who wrote offers in January rose 70 percent this January compared to a 50 percent increase in January 2012. The company suggest that while the pickings may be slim, buyers are finding options and giving offers on homes. Further home tours also increased for the month of January. According to a release from Refin, tours rose to 58 percent compared to 52 percent from 2012.

The release also suggested that an increase in homebuyer demand in January, when coupled with the inventory shortage, created a seller's market heading into the spring.

A sellers market is good news for veterans who are seeking to purchase a home. Qualified veterans may receive a VA home loan to purchase a new home after following steps required to receive eligibility. When receiving a VA loan for purchase of a new home, veterans receive a guaranty to protect lenders from loss if the borrower does not pay back the loan. This guaranty will increase the likeliness that lenders approve a mortgage application. With home offers on the rise, and mortgage rates and historical lows, The Federal Savings Bank encourages first-time home-buyers and veterans alike to apply for a mortgage.