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    • Home
    • Mortgage Calculator
    • Best Reverse Mortgages
    • On Line Application
    • Down payment chart
    • Senior Discounts!
    • Mortgage Credit Certs
    • No FICO Scores?
    • Get pre approval/qualify?
    • VA Loans
    • Owelty Deed
    • 2023 Loan Limits
  • Home
  • Mortgage Calculator
  • Best Reverse Mortgages
  • On Line Application
  • Down payment chart
  • Senior Discounts!
  • Mortgage Credit Certs
  • No FICO Scores?
  • Get pre approval/qualify?
  • VA Loans
  • Owelty Deed
  • 2023 Loan Limits

VA LOANS for Veterans

  

For qualifying borrowers, a VA Home Loan can be one of the best mortgage options available.

The VA Home Loan program was created in 1944 as part of the GI Bill of Rights to assist in a post-war recovery to those who served during World War II. The United States government wanted to create a way to help Veterans establish credit and build strong financial standing beginning with homeownership as the foundation.

Although the VA plays an integral part, the VA does not actually provide VA Home Loans to borrowers. They insure them for lenders that provide this great opportunity for Veterans and Active Military members.

The VA Home Loan is a great opportunity for our VA borrowers for a number of specific reasons. Here are the top 5 reasons, Real Estate Professionals and Lenders should urge Veteran and Active Military borrowers to take advantage of this benefit:

1. Your VA Home Loan borrowers are not required to make a down payment 

Many home loans require a down payment, but the VA Home Loan is the exception. The VA Home Loan can be financed by the qualifying borrower up to 100% of the entire purchase price.

2. There is no Mortgage Insurance (MI) responsibility to your borrowers

VA Home Loans are already insured by the United States government if a borrower defaults. This means there is no need for Private Mortgage Insurance (PMI) to be placed on the mortgage.

3. The United States government guarantees the VA Home Loan

Every VA Home Loan is guaranteed by the United States government. This guarantee means a portion of the loan amount will be repaid to the lender even if your borrower is unable to make monthly payments.

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New Loan Limits for 2023

  

2023 Loan Limits for most Texas Counties

Conventional loans

Units

1 $726,200

2 $929,850

3 $1,123,900

4 $1,396,800

FHA Loans

Units

1   $472,030

2   $604,400

3  $730,525

4  $907,900

Learn more