I served my country as an Army Officer for over 15 years and I know what it is to be away from family and friends when duty calls.
Veterans give a lot to leave this world a better and safer place than they found it. The Department of Veteran Affairs gives back to the veteran community by backing up mortgages for veterans.
I’d be honered to help veterans in Texas with getting a VA loan so you can get the home you deserve.
I’m a VA loan specialist and watch this video to learn more about the benefits of a VA Loan for all active duty service members and veterans.
VA Loans
VA Loans are reserved for active-duty service members, veterans, and spouses of veterans! The U.S. The Department of Veteran Affairs backs VA loans financially. VA loans are very popular because they require no down payment and have low interest rates — truly a great deal. Additionally, VA loans have lower closing costs which can save buyers a lot of money!
VA Loans are typically offered in 15 year loans or longer because the goal is to offer those who are serving or have served our country, long term stability. While the US Department of Veteran Affairs has no required down payment or credit score — most lenders who work with VA loans do require a credit score in the mid 500’s or higher. If this doesn’t apply to you, don’t worry — there’s always ways to figure it out! It’s worth noting that on average with a 30 year VA purchase loan, the interest rates are lower than non-VA loans.
A few facts about VA-loans:
No down payment required
No Mortgage Insurance required
a Certificate of Eligibility is required to determine the veteran’s entitlement
If entitlement is insufficient, a cash down payment is allowed
Two eligible veterans may combine their DVA benefits to qualify for a larger loan
The lender sets the interest rate on a VA-loan, not the DVA
If legally married, your spouse’s income may also be considered for qualification purposes
There aren’t a lot of disadvantages when it comes to these loans. One however is that while VA loans don’t require closing costs, there are funding fees involved. Typically these fees are around 2.3% of the purchase price of the loan. You can finance funds in your mortgage.