Houston, Texas (PRWEB) September 09, 2012
Security America Mortgage proudly announced on September 6, 2012 that the Hire Our Heroes event in Houston, Texas served as a success with the employment of Germany based, Air Force Veteran, Steve Otero - a member of the VA mortgage team who continues to help military service members own homes using their VA home loan, VA refinance, and Real Estate referral benefits.
If you're ready to purchase or refinance a home using your VA home loan benefit, someone like Otero is the best person to communicate VA needs to, as he is a veteran himself who just transitioned into the Great State of Texas. Choosing a VA Loan over a conventional loan can not only help veterans save money, but it can serve to support military families during their transitional time coming back to the United States to live in Texas all the way from Iraq.
There are many money-saving benefits unique to VA mortgage processes in Texas which include advantages like...
- No down payment required
- No mortgage insurance required
- Easier qualification standards
- Less strict credit and income standards
- No prepayment penalties
Texas VA Eligibility Requirements:
1. Texas Wartime - Service During:
- WWII: 9/16/1940 to 7/25/1947
- Korean: 6/27/1950 to 1/31/1955
- Vietnam: 8/5/1964 to 5/7/1975
You must have at least 90 days on active duty and been discharged under other than dishonorable conditions. If you served less than 90 days, you may be eligible if discharged for a service connected disability.
2. Texas Peacetime - Service during periods:
- 7/26/1947 to 6/26/1950
- 2/1/1955 to 8/4/1964
- 5/8/1975 to 9/7/1980 (Enlisted)
- 5/8/1975 to 10/16/1981 (Officer)
You must have served at least 181 days of continuous active duty and been discharged under other than dishonorable conditions. If you served less than 181 days, you may be eligible if discharged for a service connected disability.
3. Texas Service after 9/7/1980 (enlisted) or 10/16/1981 (officer)
If you were separated from service which began after these dates, you must have:
- Completed 24 months of continuous active duty or the full period (at least 181 days) for which you were ordered or called to active duty and been discharged under conditions other than dishonorable, or
- Completed at least 181 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1171 (Early Out), or have been determined to have a service-connected disability;
- Been discharged with less than 181 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances for the convenience of the Government.
4. Texas Gulf War - Service during period 8/2/1990 to date yet to be determined
If you served on active duty during the Gulf War, you must have:
- Completed 24 months of continuous active duty or the full period (at least 90 days) for which you were called or ordered to active duty, and been discharged under conditions other than dishonorable, or
- Completed at least 90 days of active duty and been discharged under the specific authority of 10 USC 1173 (Hardship), or 10 USC 1173 (Early Out), or have been determined to have a service-connected disability, or
- Been discharged with less than 90 days of service for a service-connected disability. Individuals may also be eligible if they were released from active duty due to an involuntary reduction in force, certain medical conditions, or, in some instances, for the convenience of the Government.
5. Texas Active Duty Service Personnel
If you are now on regular duty (not active duty for training), you are eligible after having served 181 days (90 days during the Gulf War) unless discharged or separated from a previous qualifying period of active duty service.
6. Texas Selected Reserves or National Guard
If you are not otherwise eligible and you have completed a total of 6 years in the Selected Reserves or National Guard (member of an active unit, attended required weekend drills and 2-week active duty for training) and
- Were discharged with an honorable discharge, or
- Were placed on the retired list, or
- Were transferred to the Standby Reserve or an element of the Ready Reserve other than the
7. Texas Selected Reserve after service characterized as honorable service, or
- Continue to serve in the Selected Reserves
Individuals who completed less than 6 years may be eligible if discharged for a service-connected disability.
8. Texas Un-remarried Surviving Spouses/Spouses of POW or MIA Service person:
- Are an un-remarried spouse of a veteran who died while in service or from a service connected disability, or
- Are a spouse of a service person missing in action or a prisoner of war
***Note: Also, a surviving spouse who remarries on or after attaining age 57, and on or after
December 16, 2003, may be eligible for the home loan benefit. However, a surviving spouse who remarried before December 16, 2003, and on or after attaining age 57, must apply no later than
December 15, 2004, to establish home loan eligibility. VA must deny applications from surviving spouses who remarried before December 6, 2003 that are received after December 15, 2004.
VA home loan eligibility may also be established for certain United States citizens who served in the armed forces of a government allied with the United States in WW II AND individuals with service as members in certain organizations, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic & Atmospheric Administration, merchant seaman with WW II service, and others.
For more information about obtaining a VA home loan, contacting the nearest VA approved Lender with previous military experience is the one assured way to succeed in reaching your goals of VA home ownership in America.