How to Buy a Home with a Texas VA loan or Texas Veteran loan
The VA and the Texas Veterans Land Board help Service Members, Veterans, and eligible surviving spouses become homeowners through two separate programs in Texas. Both of the programs have no money down, 100% financing and no PMI.
VA Loan program
If you are or have been in the military (including the Reserves or National Guard), you may meet the VA mortgage Eligibility. The Department of Veterans Affairs, commonly referred to as the VA, has made home ownership easier for veterans (and in some cases their surviving spouses) through its loan guarantee program.
By using the Loan Guaranty Home Loan Program from the VA, Veterans can qualify for up to $453,100 with $0 down with below market interest rates.
Texas Veteran Land Board (VLB) program
The Texas Veteran Land Board program is commonly referred to as a Texas Vet Loan and has additional benefits other then those of a regular VA Loan. Texas Vet Loans are only available to to eligible Veterans living in Texas.
The Veterans Housing Assistance (VHAP) and Home Improvement (VHIP) Programs offer an interest rate reduction to qualifying veterans with disabilities.
The veteran must have a compensable service-connected disability of 30% or greater as verified by an Award Letter from the Department of Veterans Affairs (VA). The amount of the regular 30 year fixed rate would be discounted by 1/2 a point.
Which program is better for me?
Grove Mortgage can help you figure out which of the loan programs would be better for your particular situation. We are here to make the buying process easy and a no hassle experience for you and your family.
Not only can we pre-qualify you for your new home purchase, we can provide you and your Realtor if your using one, a Pre Qualifying Letter to present with your offer to purchase.
Have questions about VA Loans ???
It doesn't matter if the home your looking to purchase or refinance is in Austin, San Antonio, Dallas, Houston, El Paso or Corpus Christi, as long as it is in our great state of Texas, we 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.
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