Flexible VA Loans are the Best on the Market
Outstanding men and women volunteer many years of their life to serve our country so we all can enjoy daily freedoms. In order to assist our great country’s veterans to achieve homeownership, VA home loan rates are less than traditional loans. VA mortgage rates currently are as much as 50 basis points lower than those for conventional mortgage loans. Two benefits of VA loans are that they allow for 100% financing and also they do not require mortgage insurance. This makes the VA Loan Program very attractive for those veterans seeking to purchase a home or refinance.
VA home loan eligibility is very reasonable. In order to qualify for a VA Loan, a veteran must have served 181 days during peacetime, six years in the Reserves or National Guard, or 90 days during war time. A spouse of a veteran who was killed in the line of duty may also qualify. This is very comforting to the spouse and children of those who have lost loved ones who gave it all in the military. It also puts the veteran at ease knowing their family will be taken care of.
Nationwide, 707,107 VA home loans were guaranteed in 2016. In Texas alone, veterans received a total of 58,774 home loans in 2016. There are over 1.5 million veterans in Texas. The median income for Texas veterans is $40,226. The Veteran Loan Program is available to any veterans who served in the Armed Forces throughout the United States.
More than 22 million veterans have achieved homeownership through the Veteran Loan Program. VA home loan lenders are backed by the government. Our leaders are aware and appreciative of the self-sacrifice of the veterans and their families. This benefit is made available through private and direct lenders.
The veterans home loan is for primary residences only. They are not meant for investments or vacation homes. The Veteran Loan Program helps those who have sacrificed and given so much to benefit all of us. They deserve a break and help to be able to enjoy the things we all can. The veteran loan program is an effort to help all those who have served in the armed services, so they are given the respect and help that they deserve.