The Department of Veterans' Affairs (VA) helps Service Members, Veterans, and eligible surviving spouses become homeowners. They guarantee a portion of the loan to help you buy a home for your personal occupancy. Texas VA Home Loans have competitive interest rates often without requiring a down payment or private mortgage insurance. 

 

Texas VA Home Loans can be used to:

 

• Buy a home or condominium unit in a VA-approved project

• Build a home

• Simultaneously purchase and improve a home

• Buy a manufactured home

 

VA Home Loan Guaranty

 

The VA "stands behind" the loan by guaranteeing a portion of it. If something goes wrong and you can't make the payments anymore, the VA covers any losses that might incur. The VA loan guaranty is the "insurance" that they provide the lender.

 

VA Home Loan Advantages

 

The guarantee VA provides to lenders allows us to provide you with more favorable terms, including:

 

• No down payment as long as the sales price doesn't exceed the appraised value.

• No private mortgage insurance premium requirement.

• VA rules limit the amount you can be charged for closing costs.

• Closing costs may be paid by the seller.

• No penalty fee if you pay the loan off early.

• VA may be able to provide you some assistance if you run into difficulty making payments.

 

You should also know that:

 

• You don't have to be a first-time homebuyer.

• You can reuse the benefit.

• VA-backed loans are assumable, as long as the person assuming the loan qualifies.

 

Eligibility

 

VA guaranteed loans are available for homes for your occupancy or a spouse and/or dependent (for Active Duty Service Members). To be eligible, you must have satisfactory credit, sufficient income to meet the expected monthly obligations, and a valid Certificate of Eligibility (COE). 

 

Call us at  972-675-7713  and let's talk about your mortgage options today!