va loans houston

VA loan in Houston

A VA Loan is designed to offer long-term financing to American veterans. VA loans in Houston are issued by federally qualified lenders and are guaranteed by the U.S. Department of Veterans Affairs. The VA determines eligibility and issues a certificate of eligibility (COE) to qualifying Military Service applicants to submit to their mortgage lender of choice. For servicemen and women, it is generally easier to qualify for a VA loan request than conventional loans. If you are an active duty military personnel, a current National Guard or Reserve member, discharged member of selected reserve or retired veteran, the VA home loan program is for you.

VA Loan: A mortgage loan program established by the United States Department of Veterans Affairs to help veterans and their families obtain home financing. The Department of Veterans Affairs does not directly originate VA loans; instead, they establish the rules for those who may qualify, dictate the terms of the mortgage offered and guarantee the loans against default.

Since the loan is guaranteed by the VA, the lender is protected against loss if the borrower defaults on the loan. It was designed to reward eligible veterans and current servicemen and women for their sacrifice and contributions. The VA home loan program carries a very low-interest rate as compared to other loan programs out there. The seller can also pay for some of the closing costs up to 4% of the loan amount. A termite inspection report is required on all VA home loans, this is one of the requirements that’s applicable on all VA home loans but not in any other loan programs.

 

VA loan options in Houston

Here are some options of type of VA loans:

  • To purchase a house or a condo (as long as the condo in a VA-approved development area).
  • To build a home.
  • Make improvements to the house.
  • Refinance loans of an existing VA loan.
  • Cash-out Refinance
Geographic Info for Houston

Houston had the fifth-tallest skyline in North America (after New York City, Chicago, Toronto and Miami) and 36th-tallest in the world in 2015. A seven-mile (11 km) system of tunnels and skywalks links Downtown buildings containing shops and restaurants, enabling pedestrians to avoid summer heat and rain while walking between buildings. In the 1960s, Downtown Houston consisted of a collection of midrise office structures. Downtown was on the threshold of an energy industry–led boom in 1970. A succession of skyscrapers was built throughout the 1970s—many by real estate developer Gerald D. Hines—culminating with Houston’s tallest skyscraper, the 75-floor, 1,002-foot (305 m)-tall JPMorgan Chase Tower (formerly the Texas Commerce Tower), completed in 1982. It is the tallest structure in Texas, 19th tallest building in the United States, and was previously 85th-tallest skyscraper in the world, based on highest architectural feature. In 1983, the 71-floor, 992-foot (302 m)-tall Wells Fargo Plaza (formerly Allied Bank Plaza) was completed, becoming the second-tallest building in Houston and Texas. Based on highest architectural feature, it is the 21st-tallest in the United States. In 2007, Downtown had over 43 million square feet (4,000,000 m2) of office space.

Centered on Post Oak Boulevard and Westheimer Road, the Uptown District boomed during the 1970s and early 1980s when a collection of midrise office buildings, hotels, and retail developments appeared along Interstate 610 West. Uptown became one of the most prominent instances of an edge city. The tallest building in Uptown is the 64-floor, 901-foot (275 m)-tall, Philip Johnson and John Burgee designed landmark Williams Tower (known as the Transco Tower until 1999). At the time of construction, it was believed to be the world’s tallest skyscraper outside a central business district. The new 20-story Skanska building[90] and BBVA Compass Plaza[91] are the newest office buildings built in Uptown after 30 years. The Uptown District is also home to buildings designed by noted architects I. M. Pei, César Pelli, and Philip Johnson. In the late 1990s and early 2000s, a mini-boom of midrise and highrise residential tower construction occurred, with several over 30 stories tall.[92][93][94] Since 2000 over 30 skyscrapers have been developed in Houston; all told, 72 high-rises tower over the city, which adds up to about 8,300 units. In 2002, Uptown had more than 23 million square feet (2,100,000 m2) of office space with 16 million square feet (1,500,000 m2) of class A office space.

 

Houston VA eligibility requirements

There are eligibility requirements in order to qualify for a VA home loan. The surviving spouse of a veteran is eligible for a VA loan as long as the spouse stays single until age 57; they can remarry after age 57. Spouse of some totally disabled veteran who died from this condition may also be eligible. Veterans and the eligible spouse are required to have a copy of their DD-214. Your credit history will be a requirement. They can apply for the Certificate of Eligibility online or contact the VA office for more information.

Additional information regarding a VA loan is available, contact the top private lenders at The Texas Mortgage Pros at (877) 280-4833 the loan specialist for more information.

 

 How to qualify for a VA Loan in Houston

One of the great benefits every US veteran should enjoy is being a homeowner without a down payment. Thanks to the VA loan program, a vet can qualify for a VA loan to help him purchase a single family home guaranteed by the US Department of Veterans Affairs. The VA home loan program offers a full 100 percent financing to active duty service, eligible servicemen and women, along with their eligible spouses. Not only that, VA home loans offer the lowest interest rates  for current mortgages available today. 

 

Houston VA loan guidelines

If you’re wondering how you can qualify for a VA loan, here are a few things that should be included in your checklist to help you acquire the home you deserve.

US veterans, members of the regular military, reservists and National Guard are eligible for a VA home loan application. The spouses of military members who died while on duty or as a result of a service-related disability can apply as well. Also, it might be helpful to get in touch with a trusted VA lender to know your VA eligibility, loan payment options, loan rates and minimum credit score. We will also need your Credits Scores to get your loan limits.

 

VA loan service requirements in Houston

To know your VA eligibility, you must fall into one or more of the following categories:

  • You have rendered 90 consecutive days of active service during wartime.
  • You have performed 181 days of active service during peacetime.
  • You have given six years of service or more in the National Guard or Reserves.
  • VA home loan Certificate of Eligibility
  • Current Credit Scores

 

VA home loan Certificate of Eligibility in Houston

The Certificate of Eligibility (COE) plays a significant part of your loan application. This page proves that you have met the minimum service requirement and discovery which loan type suits your needs. Moreover, you are eligible for a VA-backed loan for an easy loan process application.

You can obtain your COE in three different ways:

  • Apply through a VA-approved lender
  • Apply by email with VA Form 26-1880
  • Apply online through the VA’s eBenefits portal

VA loan property requirements in Houston

Here is a list of VA loan property requirements in Houston

  • Residential House It is mandatory that the financed home is used as a primary residence.
  • Architectural Infrastructure from roofs to crawlspaces to basements, everything should be architecturally sound.
  • Liveable Space. The financed residence should allow the homebuyer and his family to live, cook and sleep.
  • Sanitation. Financed properties should provide clean drinking water and adequate sewage disposal.

Service members and veterans looking for homes should know that these properties must conform to the Minimum Property Requirements (MPRs) set by the Department of Veterans Affairs within your loan entitlement. These home requirements ensure that veteran borrowers and their families have a safe, structurally sound home to live, the purchase price and monthly payments within their means.

Take note that all MPRs are assessed by an independent VA appraiser who can point out any significant issues that can affect the safety, sanitation and structural integrity of the home. Please note that the appraisal process doesn’t guarantee properties that are free of defects.

 

Maximum VA loan limits in Houston 2021

The maximum VA loan limit in Houston for a single family home in 2021 is $453,100.00 and the max guaranty is $1,000,000.

To get an accurate maximum VA loan amount for your specific needs you can get in touch with our VA approved lenders so you can check with them your eligibility for a VA loan and local loan limits. Every case is different because everyone’s situation is different. The loan amount, type of property, credit score, and service histories, loan eligibility are completely different from person to person

Additional information regarding a VA loan is available, contact our VA Home Loan Specialists at (877) 280-4833 for more information.

 

VA loan near Houston

For more information about other cities see:

Texas