Two Programs with Great Benefits for Veterans Living in Texas
The Texas Vet program usually has slightly better interest rates and could will be a better option for a Veteran purchasing a home in Texas. The VA Loans Texas Team will explain the differences in greater detail and provide you with a Federal VA Mortgage and a Texas Vet estimate so you can decide on the best loan solution for you. Here are some of the highlights features of these benefit loan programs:
Texas Veteran Loans
- Interest rates set by the Texas Veterans Land Board; highly competitive rates; published on the right-hand side of this website weekly.
- Can be used for purchases of personal homes only; no refinances, second homes or investment property.
- Loan amounts up to 726,200
- Can be underwritten as a VA Loan, or as a conventional or FHA loan.
- Veterans with a 30% or greater service-connected disability receive an additional ½% (0.5%) interest rate discount, and the VA funding fee is waived (when underwritten as a VA Loan)
- No down payment required / 100% financing (when underwritten as a VA Loan)
- No Private Mortgage Insurance (when underwritten as a VA Loan)
- No pre-payment penalties
- Only available to Veterans living in Texas
VA Mortgages
- Market-based interest rates usually comparable or better than conventional loans
- Can be used for personal home purchases or refinancing an existing conventional, FHA or VA mortgage.
- No VA max loan amount on the federal VA program
- VA funding fee is waived for Veterans with a 10% or greater service-connected disability
- No down payment required / 100% financing
- No PMI (private mortgage insurance)
- No pre-payment penalties
- Available nationwide
To get started with a Texas Vet or VA Loan today, call us or fill out the short form on this page and we’ll help you get pre-qualified for a Texas Vet or VA Home Loan.
Texas Vet & VA Loan Specialist Shirley Mueller
Since 2003 Shirley has originated well over 1500 Texas Veteran and VA Loans. She has helped Veterans in almost every possible circumstance including active duty personnel deployed overseas, returning home, with PCS orders, as well as separated and retiring Veterans. – Read More