What Can You Do with a VA Loan?
Military personnel work hard to keep Americans safe, and to honor the personal sacrifice they make, the United States government offers certain incentives to make their transition back into civilian life easier.
Established in 1944 to help World War II veterans to settle down, the VA Home Loan program has since made affordable homeownership a reality for 20 million military families.
For today’s veterans and active duty service members, getting a VA Loan means that you can
- • Buy a house or condominium with no money down.
- • Take advantage of competitive rates.
- • Refinance your home to reduce your monthly payment.
- • Buy a home with less than perfect credit.
To find out what the VA Home Loan program can do for you, choose from the topics on the right to learn more about your options.
meet one or more of the following…
- You served 90 days in a row during wartime.
- You served at least 181 continuous days with-
out being called to active duty.
- You served at least 6 years in the National
Guard or Reserves.
- You are the spouse of a servicemember who
died either in the line of duty or as the result of
a disability incurred during active duty.
Determining eligibility has never been easier! Our expert loan officers will guide you through the process of making sure you meet the eligibility requirements and obtaining a valid Certificate of Eligibility (COE) from the U.S. Department of Veteran Affairs.
If you aren’t sure if you’re qualified, don’t worry! Give us a call and we’ll be happy to help you narrow down your options and help you find the loan that’s right for you.
For more information call 1(832)319-6920
In today’s market, a 5 percent down payment is as low as you can go with a conventional mortgage. With housing prices on the rise, you may get priced out of the market before you can even manage to save that much money.
VA Loans let qualified buyers avoid that risk. You can find out today if you qualify by filling out our online application form here.
The backing of the federal government means that lenders take on less risk when they finance a VA mortgage loan.
The good news for borrowers is that the rate is lower than a traditional mortgage; as much as .5 to 1 percent lower. More money goes directly to reduce your loan’s principal each time you pay your mortgage, helping you to build equity faster.
The VA Home Loan program offers Houston area borrowers who already have VA mortgage loans the option of refinancing with a VA Interest Rate Reduction Refinance Loan (IRRRL), also known as a “Streamline” refinance.
The IRRRL lets you take advantage of lower interest rates and reduce your monthly payment with few closing costs and very little paperwork. In addition, you can roll the closing costs into the new mortgage principal so that you pay nothing upfront, and in most cases you will not pay the cost of appraisal.
To learn more about how much you can save by getting a Streamline refinance, contact an expert loan officer at 1(800)345-3333 or by filling out our easy to use online form here.
Because the loan is backed by the federal government, VA Home Loans are up to 1 percent lower than conventional mortgages and will be the smart choice for most eligible borrowers.
Actual loan rates are constantly in flux. They are influenced by the borrower’s financial situation, prevailing market conditions, and the length of the mortgage loan. Generally speaking, the shorter the term of the loan is, the lower the interest rate will be.
The best VA home loan rates are usually given to borrowers who have:
- Good to Excellent Credit Score
- Debt-to-income Ratio (less than 41 percent)
Want to find out your rate? Call us today or fill our our easy online form here.
One of the great things about the VA Loan program is that the federal government insures a portion of each loan against the possibility of default. This guaranty allow lenders to qualify homeowners with less than perfect credit.
To find out today’s rates or see how the VA Home Loan rate stacks up against conventional mortgage loan rates, contact a specialized loan officer at Mortgage Loans for Texas.
- 0% Down Options
- Less Budget Restrictions
- Lower Credit Score OK
- Low Interest Rates
- Lower Monthly Payments
The real estate market can be a challenge for first time homeowners — and especially for veterans coming directly from a tour of active duty. Chances are you have not had time to build equity, and you may have few assets to contribute to a down payment.
Moreover, the whole process can be confusing. First time buyers may think that all they have to worry about is the sales price of the home itself, forgetting that property taxes and insurance also need to be taken into consideration when calculating your monthly payment.
Even though they may not be specifically designed with you in mind, VA Home Loans help to make first time homeownership possible by offering
VA Loans for Veterans as a Solution
Transitioning from active duty back into civilian life is tough enough without worrying about whether you will ever be able to afford to own a home. The VA Home Loan program has brought the pride of ownership to 20 million American veteran and active duty servicemembers. Contact a VA loan officer serving Houston, Texas and the surrounding areas today to let this mortgage program work for you.