Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans. Texas Premier Mortgage is a qualified VA Loan Lender servicing clients in The Woodlands, Spring TX, Conroe TX, and does business in surrounding areas such as Houston, as well as the entire state of Texas. Houston VA Loans
Here's how it works:
- 100% financing without private mortgage insurance.
- A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.
- When purchasing a home, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less.
- When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows.
Who's Eligible for a VA-Backed Loan?
- Veterans
- Active duty personnel
- Reservists/National Guard members
- Some surviving spouses
Texas VA Home Loans
Veterans mortgages, also known as VA home loans, serve all of the same functions as a conventional loan, and can be used to buy or refinance a home.
Over the years, Texas Premier Mortgage has helped service members and veterans all over Texas apply for and get qualified for VA home loans
What is a VA Home Loan?
A VA home loan is a mortgage loan issued by approved lenders and guaranteed by the federal government. A VA home loan is considered to be one of the most “unique and powerful” loan programs ever created.
Benefits of VA Home Loans
- No down payment
- No cash reserves
- No application fee
- No monthly mortgage insurance premiums
- VA funding fee may be financed
- Seller can pay closing costs
- Low interest rates compared to other loan options
- Easier qualification standards compared to conventional loans
What Are the Qualifications for a VA Loan?
A VA home loan is available to service members, veterans and eligible surviving spouses. Specific requirements vary depending upon your individual needs, but are mostly straightforward. Qualifications for a VA home loan include:
- Satisfactory credit
- Sufficient income to meet the expected monthly obligations
- A valid Certificate of Eligibility
- Must meet service requirements according military status
How Do I Prove to the Lender that I’m Eligible?
You’ll need a Certificate of Eligibility before you can get a VA-backed loan. This section shows how you can apply for one.
Among categories A, B, and C below, find the one that matches your situation.
Category A: Veterans, Active Duty, and Reservists/National Guard Members Who Have Served on Active Duty
You can get a Certificate of Eligibility in any of three ways:
- Apply online. Go to the Veterans Information Portal (http://vip.vba.va.gov) and click on User Registration. For more information, click on this link for user instructions for applying online.
- Apply through the lender. In many cases, lenders can obtain a Certificate online in minutes. Check the table below entitled, “Evidence Needed for the Certificate of Eligibility.”
- Apply by mail. Use VA Form 26-1880. Return it to the address shown on the form. If you can’t print the form, just call 1-888-244-6711 and follow the prompts for Eligibility. We can mail it to you.
Evidence you’ll need when you apply (Category A)
Category B: Reservists/National Guard Members Who Have Never Served on Active Duty
You can get a Certificate of Eligibility in any of three ways:
- Apply online. Go to the Veterans Information Portal (http://vip.vba.va.gov) and click on User Registration. For more information, click on this link for user instructions for applying online.
- Apply through the lender. Your lender can submit your application online for you. Check the table below entitled, “Evidence Needed for the Certificate of Eligibility.”
- Apply by mail. Use VA Form 26-1880. If you can’t print the form, just call 1-888-244-6711 and follow the prompts for Eligibility. We can mail it to you.
Evidence you’ll need when you apply (Category B)
Category C: Surviving Spouses of Veterans Who Died In Service or As a Result of Service
You must apply for the Certificate by mail.
If your veteran spouse died after service, VA must determine that the death was due to a service-connected disability. Please allow 2-3 months for this process unless you know that the decision on service-connected death has already been made.
Apply using VA Form 26-1817. If you can’t print the form, just call 1-888-244-6711 and follow the prompts for Eligibility. We can mail it to you.
Send the completed form to:
VA Loan Eligibility Center
PO Box 20729
Winston-Salem, NC 27120
Evidence you’ll need when you apply (Category C)
Get Pre-Qualified for a VA Loan
Apply for a VA Loan with a VA Qualified Lender with Texas Premier Mortgage today! We work with clients in The Woodlands, Spring TX, Conroe TX, and surrounding areas of Houston, as well as the entire state of Texas.
Texas Premier Mortgage
