Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.
Here's how it works:
100% financing without private mortgage insurance or 20% second mortgage.
A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.
When purchasing a home, veterans may borrow up to 100% of the sales price or reasonable value of the home, whichever is less.
When refinancing a home, veterans may borrow up to 90% of reasonable value in order to refinance where state law allows.
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This office is licensed and Examined by the Office of Consumer Credit Commissioner of the State of Texas.
Pursuant to the requirements of section 157.007 of the texas finance code you are hereby notified of the following;
complaints regrading a licensed mortgage loan originator should be sent to the texas department of savings and mortgage lending 2601 north lamar suite 201 austin texas 78705. A toll free consumer hotline is available at 1-877-276-5550
This department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. a written application for reimbursementy from the rcovery fund must be filed with and investigated by the prio to the payment of a claim. for more information about the recovedry fund pplease consult the departments website at www.sml.texas.gov
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