Westmoreland Financial Services of Pa Inc

Westmoreland Financial Services of Pa Inc I am a wholesale mortgage broker, I offer types of loans, including USDA, FHA, VA, and conventional.

Purchasing a home is the best financial investment you will make in your life. I can make it easy and whether you have NO down payment or as little as 3% we can work together to be sure the process is positive. My interest rates are the lowest out there since I am a wholesale broker, call me for details on how you too can be a homeowner and not a renter.

11/12/2024

On November 12, 1758, during a foggy and rainy November twilight just outside Fort Ligonier, two Virginia Regiments under the command of Colonel George Mercer and a young Colonel George Washington mistook each other for their enemy, opening fire on one another in the fog and near darkness. The result was around 40 casualties. That tragic yet historically significant event altered the course of the Forbes Campaign in the French and Indian War, significantly impacting young George Washington's life.

This incident would be the last time Washington would be involved in an active battlefield engagement until the American Revolution and would go unmentioned for thirty years until the winter of 1788. While working on notes for his biographer, Washington penned these words in a document that would come to be known as "The Remarks":

"Previus to this, and during the time the Army lay at Loyal haning a circumstance occurred wch involved the life of G. W. in as much jeopardy as it had ever been before or since[.] the enemy sent out a large detachment to reconnoitre our Camp, and to ascertain our strength; in consequence of Intelligence that they were within 2 Miles of the Camp a party commanded by Lt Colo. Mercer of the Virga line (a gallant & good Officer) was sent to dislodge them between whom a Severe conflict & hot firing ensued which lasting some time & appearing to approach the Camp it was conceived that our party was yielding the ground upon which G. W. with permission of the Genl called (for dispatch) for Volunteers and immediately marched at their head to sustain, as was conjectured the retiring troops. led on by the firing till he came within less than half a mile, & it ceasing, he detached Scouts to investigate the cause & to communicate his approach to his friend Colo. Mercer advancing slowly in the meantime—But it being near dusk and the intelligence not having been fully dissiminated among Colo. Mercers Corps, and they taking us, for the enemy who had retreated approaching in another direction commenced a heavy fire upon the releiving party which drew fire in return in spite of all the exertions of the Officers one of whom & several privates were killed and many wounded before a stop could be put to it. to accomplish which G. W. never was in more imminent danger by being between two fires, knocking up with his sword the presented pieces."

You can read the full transcript of Washington's "Remarks" here: https://founders.archives.gov/documents/Washington/04-05-02-0463-0002 -04-05-02-0463-0002-fn-0005-ptr

Image: "Flash Point" by Chas Fagan, 2019. This painting depicts the integral moment mentioned in Washington's account when he realizes that they are firing on their comrades and he attempts to stop the firing on his side. Prints of this painting are available in our gift shop.

06/07/2017

Licensed by the Pennsylvania Department of Banking and Securities. Westmoreland Financial Services NMLS:136138 - Joan E Vernon NMLS:136115 - Michael J Vernon NMLS:182840
Ph: (724) 995-8297
Fax: (724) 995-8296

03/27/2017

We offer a number of loan programs geared towards today’s home purchase market. Whether your customers are first time homebuyers, or looking for a second home or investment property, we can offer just the right program to meet your customer’s needs. Plus, with our short turn-times for purchases and extraordinary service levels, you can rest assured that the loan will close efficiently. Call Jo Vernon 724-995-8297

Tired of renting, call me now and be a homeowner this year...... 724-995-8297
04/25/2016

Tired of renting, call me now and be a homeowner this year...... 724-995-8297

04/22/2016

A new study has found a strong correlation between cognitive decline in older Americans and housing behavior. The study by the Mortgage Bankers Association’s Research Institute for Housing America, found that the effects of normal aging on memory and cognition can affect a potential borrowers’ ability to make decisions about their housing and financial situation. That’s particularly important as the Baby Boomers move into retirement age. “As the Baby Boomer begins to enter retirement years, new challenges are arising with significant implications for both borrowers and lenders,” said the study’s author, Gary V. Engelhardt, Ph.D. “In particular, given the impact of aging on memory and other cognitive skills, there is a need to consider the implication for financial decisions made by older individuals. By the time individuals are arriving into traditional retirement ages, when many important financial decisions are made, cognitive skills are already in decline as part of normal cognitive aging.” “The Baby Boomers are entering their traditional retirement years with an expectation of living longer than prior generations but also with more debt, meaning that they will have to make increasingly complex housing and financial decisions,” said Lynn Fisher, Ph.D., executive director of RIHA and MBA vice president for research and economics. “In addition, the number of Americans over the age of 60 will grow to nearly 62 million by 2024. This study highlights the fact that memory loss in particular raises particular challenges for the financial well-being of older Americans and suggests that we may need to reassess how the industry designs, originates and services financial products for seniors.”

03/18/2016

Oil Driving the Markets
You use gas produced from oil to drive to the market. Well, apparently the price of oil has been driving the markets all year. While everyone has been watching the Federal Reserve Board for clues as to which way rates are going, we think that the Fed is watching oil prices. While the price of oil does not usually drive the markets, you can see that the stock market and interest rates dropped significantly while oil prices were bottoming earlier this year. Conversely, as the stock market has rebounded in the past few weeks, so have oil prices.
As you can guess, longer-term interest rates also have started trending upwards as stocks and oil prices have been rising. This is not to say that these trends will continue, but at least for now, the markets seem to be moving in tandem. As we have pointed out previously, lower oil prices are good for the economy, but the markets get spooked when they move too low. The last time this happened was the depth of the financial crisis and that is when the stock market also hit its low point of the decade.
When oil prices become too low along with other commodities, this is when the Fed starts thinking about deflation risks instead of inflationary risks. We think these risks will probably cause the Fed to hold off from raising rates this month, even though our economy is still growing and producing jobs. However, if the price of oil holds at this level or rises further, the Fed will have more flexibility at the next meeting. We should note that the last report on oil inventories showed that the surplus is continuing and thus there is little chance that oil prices will start spiking any time soon. So, enjoy your ride to the market.

03/15/2016

Tax Times Favors Homeowners
Congress has consistently enacted tax legislation which favors homeowners. Indeed, much has been written that our tax laws discriminate against renters, by giving unfair and unequal tax benefits to those who own homes. For those of us who own homes, here is a list of the itemized tax deductions available to the average homeowner. Every year, you are permitted to deduct the following expenses:
• Real estate property taxes, both state and local, can be deducted. However, it should be noted that real estate taxes are only deductible in the year they are actually paid to the government.
• Interest on home loans on a first or second home is fully deductible, subject to the following limitations: acquisition loans up to $1 million, and home equity loans up to $100,000. If you are married, but file separately, these limits are split in half.
• Points paid to lower your interest rate are deductible. Points paid to a lender when you refinance your current home loan are not fully deductible in the year they are paid; you have to allocate the amount over the life of the loan.

03/14/2016

VA Lending is Hot
A home loan program steeped in history continues to make it. The United
States Department of Veterans Affairs, known as the VA, backed an all-time
record 631,151 loans in fiscal year 2015, eclipsing the previous high-water
mark set just two years prior. More and more veterans are using these
flexible, $0 down loans to crack the housing market during a time of tight
credit and limping wages. A good year for the industry was a great one for
military buyers: VA purchase loans surged 19% year over year, according to
recently released figures. To put that growth into perspective, the VA
guaranteed more loans to buy homes last year (322,120) than it did total
loans—whether they be purchase loans or refinances—in fiscal year 2010
(314,011).
The outlook for this 71-year-old benefit program is bright, too. The
population of younger veterans is expected to increase 36% over the next
five years, according to a recent Deutsche Bank analysis. To be sure, VA
loans aren’t the right fit for every veteran. But they’re also no longer on the
sidelines. In fact, in many ways, these government-backed loans are
arguably the most powerful residential loan product on the market. Greater
awareness of the benefits—and the surprising safety—of VA loans has
propelled market share in recent years. Credit guidelines for VA loans are
generally more forgiving compared with conventional loans, and VA buyers
don’t have to spend years scraping up a down payment. That one-two
2
punch helps make homeownership possible for scores of veterans and
military families who might otherwise miss out. The average VA buyer has
about $7,000 to $8,000 in assets, according to the VA. These loans also
carry no mortgage insurance and limit what buyers can pay in closing costs.

03/10/2016

Some are enjoying the sale While many are not too happy about the stock market retrenching and others who work in the energy
industry are suffering through a retrenching, much of America is enjoying the sale going on right now. What is on sale? Gasoline and home loans. If these gas prices hold, we would expect a very
busy summer vacation season and this should boost the economy. The American Automobile Association has indicated that the price of gas is now averaging over $1.00 per gallon less than the
highs hit in 2015. Lower than expected rates on home loans are fueling an increase in refinancing by homeowners. In mid-February, the share of applications for home loans which were refinances hit over 60% of the total market. Refinancing also puts more cash in consumers' pockets. With the spring real estate
season about to start, it remains to be seen whether low rates will also boost home sales. We will add our own speculation. We believe that if the economy continues to produce jobs near the same rate it did in 2015, and if rates stay low, this could be a banner year for real estate. The only issue holding back real estate
sales is the lack of inventory. We expect builders to ramp up to meet the demand produced. The bottom line is that owning is cheaper than renting in most areas of the country and the sale on home loans has made homeownership even more affordable.

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305 W Main Street
Ligonier, PA
15658

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