Some of the recent changes that have been implemented with the VA Home Loan Program allows you to get much lower VA mortgage rates when shopping for a home or looking to refinance.
When comparing the VA Loan with a Conventional mortgage loan, a Texas VA Mortgage is guaranteed by the Veterans Administration, so the risk to the lender is less than that of a conventional loan.
What does this mean for you? LOWER INTEREST RATES!
These days, very few borrowers, especially First Time Homebuyers, have 20% to put down when looking to purchase a home in Texas. Mortgage Insurance companies have tightened up their guidelines so much, that it is nearly impossible to obtain a Conventional Mortgage without putting at least 20% down.
Here are some of the benefits of a VA Loan:
- No Mortgage Insurance
- No Down Payment
- Lower Interest Rates
- Easier to Qualify
VA mortgages typically offer anywhere from 0.5% to 1% less when it comes to the interest rate. Let's take a look at the savings you would receive by going with a Texas VA Loan:
What You Would Save Each Month With a Lower Rate
Loan Amount |
0.5% Less in Rate |
1% Less in Rate |
| $150,000 | $47 |
$94 |
| $250,000 | $77 |
$156 |
| $350,000 | $109 |
$220 |
| $450,000 | $140 |
$282 |
 |
Whether you’re trying to determine if you qualify or if you’re interested in finding out what kind of documentation you’ll need to ultimately get a VA loan, we can provide you the information you’re seeking. Additionally we’re more than happy to take your phone calls at 832-212-6969. We service Houston, Austin, Dallas, San Antonio, El Paso, and all of Texas.
Get A FREE, NO Obligation Quote for a VA Loan in Texas!
