Looking for a VA Loan?
When you’ve found the home of your dreams, it’s important to make sure you find a home mortgage that fits your financial situation and future plans.
A VA home loan is a mortgage insured by the Department of Veterans Affairs. Those eligible for VA loans include:
- Active-duty personnel
- Some reservists and National Guardsmen
- Surviving spouses of persons who die while on duty or as a result of military service
The typical VA loan offers 100 percent financing, meaning that you don’t have to make any down payment on your home. Compared with a conventional, no-down mortgage, the VA loan has two distinct benefits. First, the interest rate on a VA loan is usually smaller, keeping more money in your pocket. And second, borrowers who take out VA loans only have to pay certain closing costs called “allowables.” The other costs are paid either by the seller or by the lender making the loan.
In Texas, veterans are also eligible for a home loan under the Veterans Housing Assistance Program enacted by the State Legislature. These “VLB loans” have lower interest rates than normal loans and may not require any down payment. In addition, veterans with disabilities may qualify for a further interest rate reduction on their VLB loan.
Find a Lender You Can Trust
When you’re searching for a mortgage loan, it’s important to find a lender who will listen to your concerns and accommodate your future plans.
At Georgetown Mortgage, we pride ourselves on our exceptional customer service. When you apply for a loan with us, you’re assigned a loan originator who can walk you through the entire loan process and answer any questions you may have. His or her goal is to make buying the home of your dreams as easy and convenient as possible.
You Should Contact Georgetown Mortgage
Georgetown Mortgage is a local, Texas company. We live in Texas, we were founded in Texas and we couldn’t be prouder of Texas’ soldiers. If you’re looking for a VA or VLB lender, contact Georgetown Mortgage today to set up a consultation.