Benefits of VA Loan and Texas Veteran mortgage in San Antonio
The basic intention of the VA direct home loan program is to supply home financing to eligible veterans in areas where private financing is not generally available and to help veterans purchase properties with no down payment.
VA loans are guaranteed by the U.S. Department of Veterans Affairs (VA) so financial institutions carry less risk and can offer interest rates that are typically 0.5 to 1 percent lower than conventional interest rates.
VA Loans are issued by qualified lenders like us. Combining lower interest rates with the ability to purchase a home with $0 down payment and no PMI (private mortgage insurance) and the savings dramatically outweigh a conventional or FHA loan.
What Are the Benefits of a VA Loan?
- 100% financing available with No down payment required as long as the sales price doesn't exceed the appraised value
- No PMI (private mortgage insurance premiums)
- VA Appraisal makes sure the property is worth what your paying for it and also ensures the property is Safe, Sound and Sanitary
- Home Retention Help in the event of a financial difficulties down the road
- State and Local Benefits
- You don't have to be a first-time home buyer
- Competitive Interest Rates
- Buyer informed of reasonable value through the appraisal of the property
- VA rules limit the amount you can be charged for closing costs
- Closing costs may be paid by the seller
- Ability to finance the VA funding fee and exemption for veterans receiving VA compensation
- VA-backed loans are assumable, as long as the person assuming the loan qualifies
- Right to prepay without penalty
- For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder
- VA assistance to veteran borrowers in default due to temporary financial difficulty.
Benefits for Texas Vet Loans
This program referred as a Texas Vet Loan is from the Texas Veterans Loan Board VHAP Program, which stands for Veterans Housing Assistance Program.
- Exclusively for eligible Texas Veterans
- Unbeatable below market low fixed rate loans of 15, 20, 25 or 30 years
- Additional 0.5% interest rate discount for Veterans with 30% or greater service connected disability
Have questions about VA Loans ???
It doesn't matter if the home your looking to purchase or refinance is in San Antonio, Dallas, Houston, El Paso, Corpus Christi or Austin, as long as it is in our great state of Texas, I can help you.
Please give us a call at 210-656-1134, for a No Cost, No Credit Check, and No Obligation consultation and find out how much you qualify for.