Being able to pre-approve thousands of military heroes for VA loans in order for them to buy or refinance their homes in Texas is an honor to our company and VA Loan Specialists. (J.Noble - 2012)
Dallas, Austin, Houston, San Antonio, Texas, United States (PRWEB) January 19, 2012
For companies who exclusively sponsor VA Loan lending services, such as Security America Mortgage, Inc., veterans and military members alike are continuing to have it easy when it comes to getting a home loan with the newly launched VA Loan websites booming the Real Estate Industry and Home Sales in Dallas, Texas. VA Loans and home purchases in Dallas are one of the fastest growing trends in the mortgage indusrty, which is mainly due to the massive increase in the recently relocating military servicemembers who are now eligible to receive the VA benefits available to them in the state of Texas.
VA Loans (or VA Home Loans) can be obtained by any Eligible Military Veteran for any of the following reasons:
-buy or build a home
-buy a residential condominium unit
-buy a residential cooperative housing unit
-repair, alter, or improve a residence owned by the veteran and occupied as a home
-refinance an existing home loan
-buy a manufactured home and/or lot
-install a solar heating or cooling system or other energy-efficient improvements
On January 17, 2012, one VA Loan Specialist, Jason Noble (who is a Loan Originator providing VA Loan Services from the Security America Mortgage, Inc. Corporate Office in Texas) clearly shared his inside knowledge for all military veterans who are currently looking to buy a home, how they could benefit from financing a home using a VA Home Loan, and why this is a fact when compared to Conventional Loans and FHA Loans.
The Industry Expert listed the "Top 10 Advantages of Financing a Home with a VA Home Loan as follows...
1. VA Home Loans Require No Money Down:
There is no down payment required for a VA loan. If the veteran chooses to do so, they may put a down payment. However, the down payment is not a requirement for purchase. Many other loans have a down payment of 3.5% (FHA loans) of the purchase price to 20% of the purchase price for conventional loans. Recently, 100% financing was offered for conventional loans but this caused the housing crisis. Currently, the VA Home Loans are the only 100% financing offered.
2. VA Home Loans Require No Closing Costs:
There are many closing costs that are required with conventional and FHA loans that VA loans can get by with not paying. Closing costs include: Homeowners Insurance-Title Insurance-Inspection Fees-Escrow Fees-Taxes-Real Estate Commissions, ect.
3. The VA Regulates the Limitations of Non Allowable Closing Costs on VA Home Loans:
This means the VA will limit the amount of closing costs to the home buyer. With a Conventional Loan or FHA Home Loan purchase, the home buyer may be charged for the following: Loan closing or settlement fees, document preparation fees, preparing loan papers or conveyance fees, attorneys services other than for title work, photographs, interest rate lock – in fees, postage and other mailing charges, stationery, telephone calls and other overhead, amortization schedules, and membership or entrance fees, escrow fees or charges, notary fees, preparation and assignment of mortgage to other secondary market purchasers, trustee’s fees or charges, loan application or processing fees, fees for preparation of truth-in-lending disclosure statement, fees charges by loan brokers, finders or other third parties, and tax service fees.
4. The VA Provides a Free Certificate of Reasonable Value (CRV) to the Homebuyer using VA Home Loans:
When purchasing a home using a conventional loan or using cash, you will have to pay for the appraisal to evaluate and prove the property's worth or value. With VA loans, the Department of Veteran Affairs "Veteran Administration" will issue a free Certificate of Reasonable Value, which takes care of the appraisal portion for you.
5. Home Inspections are Free to the Homebuyer with VA Home Loans - Issued by the VA:
During the time when an appraisal is performed, a VA Inspector will be delegated the task to verify that the property meets all VA codes, specifically the codes and regulations that outline the property habitable conditions. The VA Inspector protects the home buyer from buying a property that is in bad condition examine, the roof, the furnace, the plumbing etc. If the property is not up to the VA code, the Veterans Administration will require that repairs are made to the home at no cost to the VA buyer.
6. VA Refinance Loans Provide Lower Interest Rates (lowering monthly mortgage payments significantly):
The VA Streamline Refinance Loan allows refinancing without a credit check, without paying closing costs, and without needing an appraisals (in most cases). Other Refinance options are available using VA Loans.
7. VA Home Loans Have No Prepayment Penalties:
Most conventional and FHA loans require a prepayment penalty which means if the homebuyer refinances or sells the home, the lender may charge them additional fees for doing so. In some cases, this can be as much as tens of thousands of dollars on money VA loans regulate.
8. The VA Requires "Points Capped" with VA Home Loans:
Most Mortgage Loan lenders will charge a service fee to originate a loan with Conventional and FHA loans. These are commonly referred to as points. The VA has a set limit on loan origination fees which prevent a lender from charging clients closing fees that are above a certain amount.
9. The VA Requires Assume-ability on VA Home Loans:
All VA loans can be assumed by other veterans. Conventional loans require that a new buyer obtain a new loan. The VA will allow you to sell your property and have the new buyer take over your old loan.
10. Federal Reserve Funds VA = Low Interest Rates for Government (VA) Agencies:
The VA Home Loans are guaranteed to have extremely low interest rates compared to any other type of loan due to the Federal Reserve playing a role in deciding the interest rates on anything being financed with government funded agencies, such as the Department of Veteran Affairs. While conventional loans with adjustable rates starting out at 3% (that may exceed 12%), VA loans usually have fixed interest rates that will never increase.
Without a question, the benefits of VA Loans in Dallas, not to mention all the millions of open doors available to qualifyied veterans, go without saying - are amazing compared to any other loan. So, it's no wonder to most VA experts that companies like Security America Mortgage, Inc. keep a high score rolling with happy VA clients buying a home in Texas.