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VA Loan Guide - VA Home Loans

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VA guaranteed loans are made by private lenders houston and mortgage companies houston to eligible veterans and active duty personal for the purchase of a home that must be for their own personal occupancy. To get a loan, the veteran must apply with a lender. If the loan is approved, VA will guarantee a portion of it to the lender.


Requirements for Security America Mortgage, Inc. Approval


To obtain a Security America Mortgage, Inc., the law requires that:

  • The applicant must be an eligible veteran or surviving spouse who has available entitlement
  • The veteran must occupy the property as their primary residence
  • Eligible Loan Purposes

Eligible veterans and active duty personal may obtain loans for the following purposes:

  • To buy a home up to 4 units for one veteran, including townhomes or condominium units in a VA approved project
  • To refinance an existing home loan
  • To reduce the interest rate (IRRL)
  • To convert and adjustable rate mortgage to a fixed mortgage payment
  • To convert a conventional loan to a VA loan

Advantages of VA Home Loans

  • 100% Financing (NO DOWNPAYMENT REQUIRED)
  • No Cash Reserves Required
  • VA Funding Fee can be financed
  • Seller can contribute 4% to cover closing cost AND prepaid items
  • No Monthly Mortgage Insurance
  • More lenient on derogatory credit