Mortgages backed by the Department of Veterans Affairs, commonly referred to as VA loans, help many current and former military service members in San Antonio achieve their homeownership dreams. The qualifying standards for this form of financing are relaxed, and the short- and long-term benefits make VA home loans a great deal.
No down payment, no obligation to pay private mortgage insurance, limits on closing costs, no prepayment or refinancing penalties – those are a few of the advantages that come with a VA loan. South-central Texas borrowers can expect competitive interest rates, too, and the loan program allows eligible home buyers to finance 100 percent of the purchase price of just about any type of property.
What’s more, VA home loans feature easy qualification requirements. Lenders are lenient in their income and credit guidelines, and financing is readily available for active duty military members, veterans and their surviving spouses. Reservists, national guardsmen, disabled servicemen and cadets at military academies may also use VA mortgages to pursue homeownership.
Are you eligible? Is VA financing right for you? The mortgage lender specialists at PRMI San Antonio can help you answer those questions and any others you may have – and when you’re ready to become a Texas homeowner, we’ll match you with the mortgage solution that best meets your needs. To get more information on a USAA VA loan, or learn about the PRMI team and how we can help you with the home buying process, contact our San Antonio mortgage company today!