Houston VA Home Loans, Who Qualifies, and More

Houston VA Home Loans continue to be a great option for veterans, current service members, and eligible surviving spouses who wish to own a home. The VA works to help individuals who qualify to buy or build a residence, repair an existing one, retain one they are in danger of losing, or adapt a home to meet their unique needs. The loans are offered through private lenders, including mortgage companies and banks, and the VA guarantees a portion of this loan, allowing lenders to provide those in the military with more favorable terms.

VA Home Loan Eligibility                          VA home loans

To qualify for a VA mortgage loan, the borrower must have a valid Certificate of Eligibility provided through the military and have sufficient income to repay the mortgage. In addition, the VA requires suitable credit and the home must be intended for personal occupancy. Home loans guaranteed by the VA may be used to build a home, buy an existing home or condominium in a project approved by the VA, or to buy and improve a home at the same time. In addition, the money may be used to buy a manufactured home, a lot or a combination of the two, or it may be used to make energy-efficient improvements to an existing home.

Benefits Of VA Home Loans

A veterans home loan helps buyers purchase a house at an interest rate that is competitive. Often, the home may be purchased without the need for private mortgage insurance or any down payment. Homeowners who wish to lower their existing interest rate may take advantage of a streamline refinance loan or an Interest Rate Reduction Refinance Loan (IRRRL) to obtain a lower rate, and Native American veterans find they may use the program to purchase, construct, or improve a home that is located on Federal Trust Land or lower their existing interest rate. Adaptive housing grants and other resources are also offered to veterans looking to purchase or refinance an existing home.

Applying For VA Loans

Individuals need to understand what is required before applying for Houston VA loans. The borrower must have a current Certificate of Eligibility if they wish to purchase a home, although those looking to refinance an existing property won’t be required to obtain a new document. Those looking to take advantage of the Native American Direct Loan Program must first determine whether their tribal organization participates in the program. If the organization does, then a Certificate of Eligibility will be required here also. Individuals looking to take advantage of an adaptive housing grant need to complete the VA Form 26-4555 and submit the completed document to the nearest regional loan center. This document may also be completed online.

Look into Houston VA Home Loans when the time comes to buy or keep a home. There are numerous benefits of going this route. Current service members, veterans, and surviving spouses deserve special care and attention as they have given so much to this country. A VA home loan continues to be a great way to give back to them and thank them for their service.

For more information, contact our VA Home Loan Specialists at 281-860-2533.


by nico2me