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Pre-Approved VA Home Loans: A Brief Guide To Applying For One

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Finding an affordable option amongst the wide range of mortgages can be tough these days, especially when the applicant has a low credit rating or a limited income. But there are options out there, and pre-approved VA home loans offer qualifying applicants one of the most cost-effective mortgage options around.

The VA has long been a source of financial help for former members of the military, and their support when it comes to mortgages means some real savings can be enjoyed. But for the home hunter, securing pre-approved mortgagesoffers other advantages too. Not least is greater negotiating leverage and the ability to commit to a purchase on the spot.

But how can someone secure a pre-approved VA home loan? And is the process complicated? Here, we provide a step-by-step guide so nothing is missed when it comes to the real thing.

1. Complete The Necessary Forms

The obvious forms to start with when seeking a pre-approved VA home loan is the loan application form. This will request the usual personal and financial details, but if there are any queries, simply leave the area blank and seek advice from the VA loan officer. It is important that all information is accurate and relevant.

A second necessary form is the 26-1880, which confirms eligibility for a VA home loan. This is a simple form that should take no time at all to fill in. However, it is important if there is to be any chance of securing pre-approved mortgages. This form is not needed when an applicant already has a Certificate of Eligibility.

2. Provide Additional Documentation

As well as the forms above, it will also be necessary to produce some additional documentation relating to your income. These include your W-2 form, and perhaps a pay stub. These will provide clear confirmation of your current income, which is obviously essential when applying for a pre-approved VA home loan.

Other documentation that may be requested can confirm other payments, for example any disability payments or retirement payments from the military. These items care covered in a VA Award Letter and Retirement Statement respectively.

3. Credit History Check

It is unavoidable that the loan officer will want to see your credit history – it is a key condition to securing pre-approved mortgages anyway. The check will take a look at your credit report, where details on past loans and repayment patterns can be seen. If there are any defaults, bankruptcies or even repossessions in your history, then they will be found.

Credit scores of around 620 are considered high enough to make VA home loan approval likely, but anything lower than that is likely to prevent any pre-approval. If the application is rejected, then the loan officer is obliged to explain why.

4. Loan Analysis

The last step in our guide refers to the lender checking the details of the proposed mortgage more closely. Getting pre-approved VA home loansis a nice idea, but it still comes down to whether the mortgage is affordable or not.

The lender will examine the information provided, especially income and any existing debts and determine if the loan is affordable or not. If it is then finally securing pre-approved mortgage funds becomes just a formality.

With approval, the lender will send out a Pre-Approval Letter confirming the sum available, which can be handed to property sellers to confirm the funds are available. There will also be some disclosures which need to be signed and sent back immediately, but they are non-binding.

And remember, pre-approved VA home loans are generally valid for 90 to 120 days, which is plenty of time to find your new home.

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TA: Bitcoin Starts Corrective Decrease, $53K Holds The Key

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Bitcoin

Bitcoin started a downside correction from the $55,700 zone against the US Dollar. BTC is correcting lower, but dips remain supported near $53,000 and $53,200.

  • Bitcoin started a downside correction from well above the $55,500 level.
  • The price is now trading above $53,000 and the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $53,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct lower, but the bulls are likely to remain active near $53,000.

Bitcoin Price Corrects Lower

Bitcoin price remained in a positive zone above the $52,000 resistance. BTC even broke the $55,000 resistance level and settled above the 100 hourly simple moving average.

However, the price failed to continue higher above the $55,700 zone. A high was formed near $55,770 before there was a downside correction. The price corrected lower below the $55,200 support level. The price even traded below the 23.6% Fib retracement level of the upward wave from the $50,365 swing low to $55,777 high.

There was also a break below a key bullish trend line with support near $53,100 on the hourly chart of the BTC/USD pair. An immediate support on the downside is near the $53,500 level.

Source: BTCUSD on TradingView.com

On the upside, an initial resistance is near the $54,500 level. The first major resistance is near the $55,000 level, above which the price could accelerate higher. The next major resistance sits near the $55,500 level. Any more gains could set the pace for a move towards the $58,000 level.

Dips Limited In BTC?

If bitcoin fails to clear the $55,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $53,500 level. The first major support is now forming near the $53,100 level.

The next major support is near the $53,000 level. It is near the 50% Fib retracement level of the upward wave from the $50,365 swing low to $55,777 high. Any more losses could open the doors for a move towards the $52,500 level. The next key support sits near the $52,000 level.

Technical indicators:

Hourly MACD – The MACD is now moving in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $53,500, followed by $53,000.

Major Resistance Levels – $54,500, $55,000 and $55,500.

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Meet The First Ever Polygon Ecosystem Index Token

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Meet The First Ever Polygon Ecosystem Index Token

Polygon continues to be a substantial force in DeFi. The protocol’s ease of use and lower fees have been major draws for developers, leading to a wide variety of new projects coming to life on the platform.

Meanwhile, the folks over at Amun Tokens are working on DeFi index tokens left and right. In June, the platform announced the launch of two index tokens, $DFI and $DMX, engaged in the Ethereum ecosystem. Given Polygon’s increased presence lately in DeFi, it was only a matter of time before the team at Amun unleashed a Polygon-based token as well.

That time has come, as Amun announced today their latest token headed to pre-sale: PECO. This token looks to encapsulate the best and brightest projects being built on Polygon.

Amun, PECO, & The Polygon Ecosystem

Amun released their Medium post announcing PECO today in collaboration with the Polygon Foundation and leading Polygon projects. The Foundation is providing $5M in MATIC tokens to seed the index’s launch, according to the Medium post, and many leading projects are providing seed capital for liquidity.

The token initially launches on October 19 and will start with 50% MATIC until the network matures further. Protocol tokens make up the remaining 50%; take a look at the initial PECO compensation on launch below:

 

As the Polygon network grows and develops, the PECO portfolio will be rebalanced monthly. PECO will be available on both Polygon and Ethereum, and early participants can earn up to an additional 30% bonus tokens in the pre-sale via airdrop.

1633656049 69 Meet The First Ever Polygon Ecosystem Index Token

Polygon (MATIC) has seen stable price movement in recent months, but has been slowly becoming a DeFi power player. | Source: MATIC-USD on TradingView.com

Related Reading | TA: Ethereum Is Primed For A Rally And Only One Thing Is Holding It Back

Amun & DeFi Growth

The Amun whitepaper cites the need for scalability in DeFi and looks to provide ERC-20 tokens that address an index of the top DeFi tokens available.

Earlier in the year, Amun unleashed DeFi index token $DFI, aimed to give investors exposure in “blue chip DeFi projects.” This allowed consumers to come to one token for a wide exposure of DeFi’s biggest coins, without incurring individual swap costs. Additionally, Amun released their DeFi Momentum Index, $DMX, which seeks to automate weights based price momentum calculated by a relative strength index. This index sought out momentum riders who “missed out on the last bull run.” Both indices were initially composed of eight tokens per index.

Amun is building out a wide breadth of DeFi exposure during what seems to be an ideal time. A Bank of America report this week cited DeFi’s growth and largely untapped potential, and Polygon and it’s subsequent platforms have been enormous growth drivers in DeFi.

Related Reading | Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey

Featured image from Medium.com/amun-tokens, Charts from TradingView.com

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100 Million XRP of $107M Transferred in 6 Whale Transactions!

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100 Million XRP of $107M Transferred in 6 Whale Transactions!
  • 100 million XRP transferred between various exchange accounts.
  • Value of $107 million has been so far transferred.
  • All these have been transacted in just 6 transactions.

Recently, getting a notification regarding a whale alert is nothing new or a surprise though. It has become almost an everyday event these days. In spite of this, on October 7, 100 million XRP was transferred in just 6 transactions. 

XRP Whale Alert

According to the blockchain service, the Whale Alert, on October 7, about nearly 100 million XRP has been transferred. All these transfers are as usual anonymous. 

In addition, the information received is that, all these are not from the same account or crypto wallet. Also, the transfers were between accounts of different crypto exchanges.

Moreover, the total value of the XRP transferred amounts to about $107 million approximately. On the other hand, the whale alert shows that all these XRP transfers were done through only 6 crypto transactions. 

Furthermore, recently Ripple has also transferred about 20 million XRP from its own crypto wallets to the Bitstamp crypto exchange. However, just the starting of this year, this exchange banned XRP from its stables. 

Besides, being banned by the exchange, again transferring XRP to it, is now a mystery. Also, it is evident that XRP was banned upon the exchange due to the U.S Securities and Exchange Commission (SEC) filing a case on Ripple for XRP. 

The Bitter News for Ripple

Amidst all this, Ripple also undergoes a new trauma now. Just a few hours back it was officially announced that Moneygram and Stellar (XLM) have closed a deal with each other. 

In addition, the complete project from this partnership is expected to hit roads soon by the mid of 2022.

Moreover, it’s known very well that Stellar (XLM) has been Ripple’s competitor since the beginning. Owing to the fact that Stellar was actually developed by Ripple’s former developer.

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Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey

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Picture of a gold Ethereum coin with computer code raining down behind it

Investor interest in Ethereum is no longer a novel phenomenon. The second-largest asset by market cap has seen more support with the rise of decentralized finance on its ecosystem. Applications of Ethereum have been the major drive behind the growth of the cryptocurrency and institutional and individual investors alike see the asset outgrowing number 1 coin Bitcoin in the coming years.

A recent CoinShares survey has echoed the sentiment that has been held by investors in the market for a while now. It showed that number of investors who believe Ethereum is set to outpace Bitcoin is over twice the number of investors who are bullish on the growth of bitcoin. Lately, investors have been moving out of their bitcoin positions in favor of ethereum, and the CoinShares survey shows that this might only be the beginning.

Related Reading | Umbrella Network Announces New Launch: Decentralized Oracles On Ethereum Mainnet

Investors Want Ethereum

The CoinShares survey shed light on investors’ sentiment around the top crypto projects in the market. When asked, 42% of respondents said that they saw the most compelling growth outlook for Ethereum. While 18% said that they saw a compelling growth outlook for bitcoin. The survey showed that Ethereum was regarded as the project to grow the most in the coming years.

ETH price settles at $3,600 | Source: ETHUSD on TradingView.com

This does not although take away anything from bitcoin. Blockchain structuring has allowed Ethereum to be at the forefront of one of the most important investment spaces in crypto; the DeFi market. The bitcoin blockchain is gearing up to compete in this space against the likes of Ethereum and Solana with the launch of smart contracts on the network. Expanding the crypto-asset’s utility beyond just its monetary policy.

Investors Reveal Reasons For Investing

When asked what the biggest motivator for investing in cryptocurrencies was, the top answer was surprisingly not the value of the assets themselves or even diversification. 35% of respondents said that they were investing in the market because the assets were speculative. Only 25% said they used cryptocurrencies as a way to diversify their portfolios. With about 15% investing for the value of the assets.

Respondents also said that regulation, restrictions, and volatility were the biggest hindrance to investing in the crypto market. Regulation also made the top when respondents were asked about the key risks associated with digital assets. A combined 58% said government bans and regulations currently pose the biggest threat to the digital assets market.

Related Reading | Last Resistance Before Ethereum At $5K? Expert Predicts Q4 In The Green

Despite growing interest from institutional investors, individual investors still dominate the cryptocurrency market. 45% of investors said they were invested in the market individually. While Europe and the Middle East possess the largest amount of domiciled funds, with about 70% saying their funds were domiciled in the region.

Featured image from Forkast, chart from TradingView.com
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Shiba Inu (SHIB) To Soon Destroy Dogecoin (DOGE)!

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Shiba Inu (SHIB) To Soon Destroy Dogecoin (DOGE)!
  • Shiba Inu (SHIB) surges up drastically this week.
  • SHIB reached a peak of $0.000035 just a few hours before.
  • SHIB will soon destroy Dogecoin and take its place.

A new member entering into the top ten crypto rankings is something which is not common. There ought to be competitions, one place up and back upon the top ten. However, entry of a completely new altcoin into the top ten is a rather rare event. 

Accordingly, on October 7th, witnessed such a similar event. The Shiba Inu (SHIB) which is actually a meme based coin, on other terms an exact copy of the Dogecoin (DOGE) has surged up in the rankings to the 12th place, straight from the 20. All owing to its total market capitalization on October 7, 2021. 

Stupendous Surges of SHIB

The SHIB has been quite promising, to be even more abrupt, actually it was a lot more than any could expect. Ever since May 2021, after witnessing its All-time-high, SHIB remained dormant for the next couple of months. And so, it completely started to sprung up out of nowhere totally unexpectedly since the beginning of October. 

Accordingly, by the end of the week, SHIB touched $0.000035, an epic high after a long time. The surge was standard upward axis graphs since October 1, such that even those who invested just a few days back, would have made a fortune by now. 

In addition to this, the overall market capitalization raised upto $14 billion on October 7. Also, this made the headlines as SHIB became the 12th upon the crypto rankings in terms of market cap. 

Moreover, the past week alone SHIB has witnessed a surge of a whopping 300%. Also, the overall surge compared to last year amounts to a mammoth 8000%.

Killing of DOGE

Despite being launched with the sole tag line of ‘DOGEKILLER’ at the time of launch, it seems it’s soon going to be a reality. 

In spite of all the surges, the major reason is from the drastic coin burns by SHIB. Also, at such a rate throughout the week, many crypto enthusiasts predict that SHIB will destroy DOGE and take its place soon!

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NZ Cryptopia Exchange Moves to Stage 2 of Its Claiming Process

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NZ Cryptopia Exchange Moves to Stage 2 of Its Claiming Process

Crypto hacking is one of the recent topics evolving in the town affecting the life savings of many users around the world. A lot of cryptocurrency exchanges have been caught up in this hacking losing millions of dollars in the market. However, digital currencies are gaining more popularity in the industry and are also being affected through scammers and hackers. 

Thus, Cryptopia, a well-known cryptocurrency exchange based in New Zealand was hacked in May 2019. In this case, the exchange lost multi- millions dollars and a large number of users were affected in this massive hack. Further, the Cryptopia team raised a claim in the court which is now heading to Stage 2 which is the identity verification process. 

Cryptopia’s Massive Hack

Honestly, the Cryptopia exchange did not expect such a huge loss affecting the lives of its valuable users. Surprisingly, the total users strength of Cryptopia trading platform is almost 900,000 connected around the globe. As the users were not ready to accept their assets’ loss, they directly fought in court for their properties. So on behalf of the users’ concern, the court announced a 4 stage process for this case to move forward. 

In regards to supporting the team, there were official updates given about the current status of the case plans. Notably the last notice was released in June 2021 stating the claim process is at stage 1. Thus, a solid number of users are following up the registration process successfully. And nearly, 55,000 users have been guided to the 4 stage process through our customer service team. 

Claims Four-Stage Plans

Initially, the clients have to claim their registration disclosing the account holder details and to raise a claim for their balance. The second step is the identity verification process where the submitted documents will be verified for quality work. Thirdly, it reflects the claim acceptance notice which agrees that Cryptopia will represent the due amount. Finally, after all these verifications, the assets will be transferred to the appropriate accounts. 

Hence the entire Cryptopia team was strongly supporting its users and guiding them through the efficient process. Further to enhance more crypto projects, Cryptopia community is planning to secure the cryptopia wallets to assist the transfer process of the assets. 

Cryptopia faced a worst time in the marketplace by going through many challenges. Besides, million dollar hack, the former employee of Cryptopia cheated nearly $250K of digital assets. The employee smartly made duplicate keys of the customer’s wallets and stole this huge amount. Now this is also an additional case filed in the court which will be commencing by the end of this month. 

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Cryptocurrency Market Hits a Monthly High of $2.3 Trillion in Capitalization

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Cryptocurrency Market Hits a Monthly High of $2.3 Trillion in Capitalization
  •  The total value locked (TVL) in the Bitcoin Lightning Network grows.
  •  The global economic situation remains unpredictable.

The cryptocurrency market hit a monthly high of $2.3 trillion thus stayed in green on Thursday morning. The crypto market is now worth $2.28 trillion, up 4.57 percent from yesterday.

Furthermore, the total crypto market volume rose by 13.67 percent to $144.33 billion in the last 24 hours. Moreover, DeFi volume for the last 24 hours was 12.72% of the entire crypto market volume. Whereas all stablecoins combined volume totals $113.40 billion or 78.5%

Compared to this, the price of Bitcoin (BTC) has steadied below $55,000. Thus, extending advances from Tuesday and Wednesday to a new high. The main digital asset is now selling at $54,119. Its up 5.35 percent in the past day and 25.98 percent in the last week. If BTC continues to rise at the same rate as it did this week. It may soon be trading around its all-time high of $64,863 set on April 14, 2021.

The total value locked (TVL) in the Bitcoin Lightning Network rises as BTC grows. The network has expanded over 1,000% in a year, reaching $165 million in locked BTC, with 2,998 TVL as of October 7, 2021. The second-largest crypto by market value, Ethereum (ETH), is also up 5.56 percent in the last 24 hours and 21.02 percent in the last week.

Global Level Adoption and Rejections

On October 7, 2021, it was revealed that Auto1 FT, a German financial partner in the automotive industry, is utilizing Ethereum smart contracts to facilitate vehicle purchase financing.

While the global economic situation remains unpredictable, with rising interest rates and more fragmented financial systems, Bitcoin continues to show its resilience.

Millennials and younger generations understand the importance of Bitcoin and other cryptocurrencies, but recent failures on Instagram and Facebook demonstrate the world’s reliance on centralized systems.

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Can Small Businesses Benefit From NFT Implementation?

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Can Small Businesses Benefit From NFT Implementation?
  • Small company may benefit from the growing popularity of NFT.
  • NFTs aren’t only for superstars and billion-dollar companies.

NFTs are omnipresent. All major brands from across the globe coming from diversified sectors appear to be hopping on the NFT bandwagon. But here’s the thing: NFTs aren’t only for superstars and billion-dollar companies; they’re also ideal for startups and small enterprises.

Moreover, the second quarter witnessed a new high for active wallets (> 175,000), indicating a significant interest increase. Also, the number of buyers and sellers continues to grow. Specifically, buyers (+ 38%) outnumber sellers (+ 25%), indicating that NFTs are gaining ground faster.

Furthermore, humans want to accumulate things, and NFTs are designed to be rare. According to basic economic theory, scarcity drives higher demand. This indicates that small companies may profit from the current NFT craze of the crypto world. The NFT technology may help expand the company and keep clients.

Low-Cost Alternative

Developing a new NFT loyalty card program. Customers join up and download it on their phones. Furthermore, they scan the loyalty NFT code every time they visit your store to earn points. Tokens may be used in-store and can be pushed at specific thresholds.

As a result of the recent U.S. migration, NFTs, utilized to collect funds to empower Afghan women. Moreover, a similar program, implemented in a neighbourhood, town, city, or state can promote a local charity.

An NFT campaign may be a low-cost alternative to a conventional bank loan if your company is contemplating expanding or establishing new locations. The idea is that contributors know and monitor that money is only given if milestones are achieved as defined by smart contracts set up at the outset of the campaign.

Inexpensive marketing initiatives like sweepstakes or gamification are typically reserved for big corporations like McDonald’s that engage in Monopoly game pieces or Publishers Clearinghouse that still utilizes sweepstakes marketing. Small companies may use NFTs to create extremely engaging gamification marketing campaigns.

Your creativity is the only limit to what your Chamber of Commerce can do to promote companies. Regardless of how you start, it would help if you gave NFTs a try. With nothing to lose, your small company may benefit from the growing popularity of NFT.

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Ardana Collaborates With Elrond Network’s EGLD Native Token for First Cross-Chain Stablecoins

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Ardana Collaborates With Elrond Network's EGLD Native Token for First Cross-Chain Stablecoins

The Collaboration

Ardana announced a long-term strategic collaboration with Elrond. Their native currency, EGLD, will be one of the platform’s first cross-chain collateralized stablecoins.

Ardana will create the infrastructure to allow Cardano and Elrond to exchange assets. This will enable token transfers between Elrond mainnet and Cardano compatible networks and eventually cross-chain smart contract capabilities.

It will be possible to shift assets from Cardano to Elrond at significantly faster rates and cheaper costs. EGLD will ultimately be a Cardano asset and can be used to manufacture stablecoins on Ardana.

Elrond is a scalable, low-cost, carbon-neutral Layer 1 blockchain. The platform supports 100,000+ TPS, 6s latency, and $0.001 transaction cost for fintech, DeFi, and IoT. The Elrond economic model limits supply and reduces issuance, increasing scarcity. The coin is called eGold (EGLD), representing a digital store of value for the next billion users and is an ideal collateralization asset.

Beniamin Mincu, Elrond Network CEO said:

“This creative exploration of collateralizing a stable coin on one chain with the native coin of another can be a great starting point for greater interoperability between two progressive global ecosystems that are anchored in performance and innovation.”

Ryan Matovu, Ardana CEO and Founder said:

“eGold is a scarce asset with capped supply that is very in demand right now. We’re excited to take on the challenge of making it available to the Ardana users and offer them more options to issue dUSD that is underpinned by strong assets that imply lower over-collateralization.”

Conclusion

This partnership with Elrond will allow connecting the Cardano users to the Elrond network. More frequent updates are expected as the collaboration progresses, thus allowing cross-chain smart contract capabilities at even cheaper costs and faster rates.

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On-Chain Data Shows Bitcoin Investors Don’t Want To Sell At This Level

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Bitcoin SOPR

According to on-chain data, Bitcoin SOPR is still assuming flat values, indicating that investors are likely to not be willing to sell at this level.

Bitcoin SOPR Stagnates, Despite Huge Rise In The Crypto’s Price

As per a post from CryptoQuant, while Bitcoin’s price shows a sharp improvement as the coin reaches $55k for the first time since May, the SOPR is still showing a flattened line.

The Spent Output Profit Ratio, or SOPR in short, is a BTC indicator that shows the profit ratio of the whole market. It does so by looking at the chain transactions and comparing the price at which a purchase transaction happened and the price at which those same coins were sold.

When the value of this indicator is greater than 1, it means the coins moved in the specified timescale are on an average selling at a profit.

Contrary to that, SOPR values below 1 would suggest BTC transacted in the period sold at a loss on average. While a value of exactly one would mean sellers are just breaking even.

Related Reading | Bitcoin Inflows Shows Institutional Investors Are Back On The Bull Train

Now, here is a chart showing the trend in this indicator for BTC:

Bitcoin's SOPR seems to have flattened recently | Source: CryptoQuant

When the indicator shows a rising value, it means investors have started realizing their profits by selling off their coins.

A decreasing value, on the other hand, would mean holders are dumping their coins at a loss, probably because they have no confidence left in the crypto.

Related Reading | Whales Moving Coins Hints At Bitcoin Maturity As Macro Asset

As the above graph shows, SOPR values have neither been decreasing nor increasing lately. The curve for the indicator is just a flat line right now.

This is despite Bitcoin’s recent big move up, where usually some investors would start harvesting their profits, but that doesn’t seem to be the case this time.

Such a trend may be because the majority of holders think the price of the coin will appreciate even further so they aren’t moving around their crypto just yet.

This unwillingness of the investors to sell their Bitcoin can end up proving to be quite bullish for the cryptocurrency. Though, when holders do start taking their profits, that’s likely when a correction could hit.

BTC Price

At the time of writing, Bitcoin’s price floats around $53.7k, up 25% in the last seven days. Over the past thirty days, the coin has surged up 12% in value.

The below chart highlights the trend in BTC’s price over the last five days.

Bitcoin Price Chart

Bitcoin's big rise took it to as high as $55.5k, though since then the price has moved rather sideways | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
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