What is a VA Loan?

VA Loans in Houston 

A VA loan is a mortgage which the US Department of Veteran Affairs has insured. This insurance extends to those who have served in Military, or to the surviving spouse of a fallen hero. By providing this backing, the VA a is able to reduce borrower’s risk profiles, providing them with the opportunity to qualify for more competitive loans.

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VA Loan Quick Facts

 Elligible Veterans have no Loan limits.

No Private Mortgage Insurance required.

Flexible Qualifying Standards.

Zero Down Payment allowed.

No FICO Score is required.

Past collections are NOT required to be paid off.

Very Low Interest Rates.

Funding Fee waived for disabled Vets.

How much do you qualify for?

Houston VA Loan Benefits

If your VA benefits make you eligible for this program, here are some of the advantages which await you.

With a VA Loan there is not a down payment requirement to purchase a home. You can pay from 0% down to any amount of down payment you choose.

Interest rates for VA loans tend to be lower than those for their conventional counterparts.

Your VA Benefits are available to you once you qualify for the rest of your life, They do not expire, and they can be used more than once. Bankruptcy and Foreclosure do not remove these benefits.

If you are disabled while you are performing your military duties, the funding fee for your VA loan can be waived.

Normally, when you do not put a large down payment on a home, you are required to purchase private mortgage insurance (PMI). When you take out VA loan and put zero down on a home, this requirement is waived.

As with other type of government-insured loans such as FHA or USDA mortgages, you do not need a perfect credit score in order to qualify for competitive interest rates and loan terms.

Can you buy or refinance a house that needs money for repairs?  Yes.  However, this has been suspended since the advent of Covid-19. Stay tuned for the return of this ability!

Seller can contribute up to 4% of purchase price towards buyer’s closing costs.

Who Qualifies for a VA Loan in Houston?

One of the following must describe you: Veteran, active duty military, or eligible surviving spouse.

You need to have served in any military branch. If you served in the National Guard or Reserve, it must have been as an activated member.

You need to have fulfilled the minimum service requirement. The exact duration of this requirement depends on when you served.

Click here for the VA’s specific requirements to establish Loan Eligibility

Thank you for your service.

God Bless our American Heroes.

We salute you.

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