Proudly serving our Texas Vets
Houston VA Home Loans and Refinancing
Houston VA Home Loans
Houston VA home loans can be the ideal way to purchase your home if you are a member or were a member of the U.S. Armed Forces. The Department of Veterans Affairs provides individuals with the ability to purchase a home loan through affordable financing through these mortgages. The advantages of these are mortgages are numerous. The biggest requirement for Veterans is to ensure they’ve served enough time to qualify. This serving requirement depends on when you’ve served (in war time or peace time) as well as how long you served and how you were discharged, if any. For those who meet the Veteran requirement, obtaining VA loans simply makes sense financially. Take a look at some of the benefits of VA mortgages in Houston, TX.
Perhaps the most substantial benefit is that the VA backs these mortgages financially. This means there is less risk to the lender. As a direct result, the interest rates on VA loans tend to be significantly lower than most conventional loans and often FHA loans. Over the course of the loan, you could save thousands of dollars. Additionally, there are no down payment requirements for these mortgages. Conventional loans, on the other hand, can require as much as 20% of a down payment on the sale price of the home. It can be very difficult for first time home buyers to meet this significant investment. With a VA loan, you do not have to do so.
- Low Rates
- 100% Loan to $417K
- Small Down Payment above $417K
- Jumbo VA Loans to $700K
- TX VET Program Available
- Easier Qualifying
- Alternate Credit OK
- 4% Seller Concessions
- No Prepayment Penalties
- Funding Fee can be Financed
- Manufactured Housing OK (subject to restrictions)
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Requirements for VA Mortgage Loans
To obtain Houston VA home loans, you will need to work with a local lender. These loans are available for jumbo mortgages (up to $417,000 in our area with a potential small down payment, or up to $700,000 for jumbo VA loans with larger down payments.) These loans are easier to qualify for, are available through the TX VET program, limit seller concessions to four percent, and allow for the funding fee to be financed. You can purchase most types of homes with these mortgages as well including manufactured housing as long as it meets specific restrictions.
We will require a few documents for your VA loan approval that includes: Veteran’s VA Certificate of Eligibility, Past 2 years W2 statements, one (1) month of most recent LES or pay stubs, two (2) months of most recent bank statements, and if discharged a copy of your DD214. If you qualify for VA mortgages in Houston, be sure to contact Keenan McGee and his VA loan team today.
VA Mortgages – Learn More
Houston VA Mortgage Lender
Russell Stout NMLS#4567432Houston, TX Branch Manager
Russell is a University of Texas finance graduate and has been helping people with their mortgages for more than a decade. Let Russell and his team help you with your next home loan or mortgage refinance and learn why more Texans are choosing Lone Star Financing!