Are You A Veteran Interested In Owning A Home? Apply For A VA Loan
Owning a home can seem like an impossibility at times. Not only do you need to find an ideal location, you also have to consider applying for a loan and figuring out your mortgage. If you’re a veteran thinking of buying a house in the near future, a VA loan may be exactly what you’re looking for. These are designed to help veterans get back on their feet after falling off the proverbial homeownership ball, with the state of Texas leading the charge in the most amount of veterans loans provided.
Explore your options below and see whether or not a VA loan can help turn your dreams into reality.
There are over one million veterans residing in the state of Texas. This has caused multiple initiatives to spring forth in order to better accommodate a growing population in need of options. The Texas loan program can provide a VA loan to those looking to buy a house, ranging from experienced buyers to those who are venturing into homeownership for the first time. Texas is a massive and diverse state, to boot, and you’re guaranteed to find a neighborhood that will suit your fancy.
It’s important to get misconceptions out of the way so you’re better prepared for what’s to come. A VA loan does not require mortgage insurance. It also allows for 100% financing. To qualify you need to have served at least 181 days during peacetime or 90 days during war time. Six years in either the Reserves or the National Guard can also help you qualify. Create a personal checklist before applying for a home loan to make the process easier.
Your experience in buying homes will have no impact on your ability to receive a VA loan. The year 2015 saw over 134,000 home loans provided to veterans who were buying a home for the first time. Another 187,000 home loans were given to veterans who have had prior experience in homeownership. Overall, veterans in Texas received a total of 58,000 home loans. This should give you a better idea as to the loan requirements that go into your local loan program.
The VA Home Loan program has helped over 22 million veterans across the country see their dreams of owning their own home be realized. VA mortgage rates are also much lower than the average, sometimes by a full 50 basis points than most available. This keeps the VA loan more flexible than most. The kind of home you can buy is also varied, ideal for those who live alone as well as those who are starting a family.
Owning a home isn’t easy, but you can make the process a little smoother by seeking out the options that best suit you. A VA loan is a highly flexible option for veterans who want to start a new path in their life. With lower mortgage rates and no prior experience required, you can own your very own home sooner than you realize.