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College Station VA Home Loans

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College Station VA Mortgage Lender

College Station VA Home Loans

Veterans, active service members, and their surviving spouses can become homeowners with the help of a VA home loan. This loan provides up to 100% financing on the value of a home and can be used to purchase or repair a house or even refinance a mortgage.

The program is made available through the U.S. Department of Veterans Affairs (VA), which sets the eligibility standards and guarantees the loan. However, it doesn’t offer to finance. These are provided by accredited lenders such as banks and mortgage companies. 

Benefits Of A VA Loan

As long as you meet the primary requirement of being military personnel (active or retired) or a spouse of one, you’ll find that VA home loans have some of the most generous terms compared to other home loan programs in College Station. These include:

  • 0% Down Payment 

There is no down payment on VA loans unless required by the lender or under specific circumstances.

  • Better Interest Rate

As compared to other home loan programs, VA offers better terms and interest rates than other loans from private banks, credit unions, and mortgage companies.

  • No Mortgage Insurance

VA loans do not require a mortgage insurance premium (MIP) or private mortgage insurance (PMI). It carries a guarantee fee from the Veterans Administration.

  • Closing Costs Are Usually Capped 

Closing costs for VA loans are limited and can be shouldered by the seller. 

  • No Prepayment Penalty 

Under VA loans, there is no prepayment penalty if the borrower decides to pay off the loan before maturity.

Aside from these benefits, borrowers with a high debt-to-income ratio may still qualify for a VA loan, which can go as high as 62% for a fixed-rate mortgage. Credit score requirements vary from lender to lender. Contact our mortgage experts to orient you about our requirements here at Capital Home Mortgage.

That said, it’s essential to remember that lenders have the right to set their minimum requirements before funding a VA loan. These requirements range from set minimum credit scores to higher or lower interest rates. 

Types of VA Loans

The main intention of VA loans is to help families of military service members to become homeowners. This is the standard home purchase loan. However, there are also other types of VA loans that you should know about. These include:

  • Purchase Loan

VA home loans are usually used to buy a new or existing home. You may be eligible for a VA-backed purchase loan if you meet all of these requirements:

  1. You can get a certificate of eligibility (COE);
  2. You meet VA guidelines and the lender’s standard requirements for credit, income, assets, and other conditions;
  3. You will live in the home you’re buying and use it as a primary residence.
  • Cash-Out Refinance

A cash-out refinance VA loan lets you borrow against your home’s equity to pay off the remaining balance and establish a new loan. The excess proceeds can be used for other purposes.

  • Interest Rate Reduction Refinance Loan (IRRRL)

Also known as VA Streamline Refinance Loans, IRRRL helps borrowers get a lower interest rate through refinancing. Borrowers can also use IRRRLs to convert adjustable-rate mortgages into fixed-rate mortgages.

Secure Your VA Home Loan In College Station

Are you a veteran dreaming of a decent house in College Station that you can call home? A VA home loan from Capital Home Mortgage can help you make it a reality. As direct mortgage lenders, we are committed to helping you get the financing you need minus the usual hassles. Let’s talk about your VA home loan needs today. Call (979) 393-0049 to speak with our expert loan officers

Why College Station is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great College Station Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

College Station Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

College Station VA Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for the mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

College Station VA Purchase Loan

  • No Down Payment / No Loan Limits
  • No Monthly Mortgage Insurance
  • Simple Qualifying
  • Flexible Underwriting
  • Seller Paid Closing Costs up to 4%
  • Higher Debt to Income  Allowed
  • Alternate Credit Allowed
  • Manufactured Housing Permitted
VA Purchase Home Lender
  • No Down Payment / No Loan Limits
  • No Monthly Mortgage Insurance
  • Simple Qualifying
  • Flexible Underwriting
  • Seller Paid Closing Costs up to 4%
  • Higher Debt to Income  Allowed
  • Alternate Credit Allowed
  • Manufactured Housing Permitted

College Station VA Refinance Loan

  • Streamline Option
    • VA IRRRL Rate and Term
    • No Appraisal Required
    • No Income Verification Required
  • Full Documentation
    • Cash-Out or Loan Conversion
    • Appraisal Required
    • Income Verification Required
VA Interest Rate Reduction Refinance Lender
  • Streamline Option
    • VA IRRRL Rate and Term
    • No Appraisal Required
    • No Income Verification Required
  • Full Documentation
    • Cash-Out or Loan Conversion
    • Appraisal Required
    • Income Verification Required

College Station VA Loan Information

College Station VA Loan Requirements

  • Active Duty – 90 days Wartime / 180 Days Peacetime
  • Honorable Discharged – 22 Months of Completed Service
  • National Guard / Reserves – 6 Years Completed Service
  • Spouse of a Service Member who Died in the line of Duty or Service related Disability

College Station VA Funding Fee

  • VA Purchases – First Use
    • 0% to 5% Down Funding Fee 2.3%
    • 5% or Higher Down Payment Funding Fee 1.65%
    • Subsequent Uses Funding Fee 3.6%
  • VA Cash-Out Refinances or  VA Refinance Conversions
    • First Use 2.3%
    • Subsequent Uses 3.6%
    • VA IRRL Refinance 0.5%
  • No Funding Fee with 10% or Higher Disability
VA Home Loan Information

College Station VA Loan Requirements

  • Active Duty – 90 days Wartime / 180 Days Peacetime
  • Honorable Discharged – 22 Months of Completed Service
  • National Guard / Reserves – 6 Years Completed Service
  • Spouse of a Service Member who Died in the line of Duty or Service related Disability

College Station VA Funding Fee

  • VA Purchases – First Use
    • 0% to 5% Down Funding Fee 2.3%
    • 5% or Higher Down Payment Funding Fee 1.65%
    • Subsequent Uses Funding Fee 3.6%
  • VA Cash-Out Refinances or  VA Refinance Conversions
    • First Use 2.3%
    • Subsequent Uses 3.6%
    • VA IRRL Refinance 0.5%
  • No Funding Fee with 10% or Higher Disability
Not Sure? Take a Look at Other College Station Mortgage Programs

College Station Mortgage Team

Conor Hayhurst

Manager
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

chris erwin

Sr Loan Officer
NMLS 914064

Dale Gremillion

Manager
NMLS 210325

College Station Mortgage Company Reviews

What is a College Station VA Home Loan?
VA Home Loans are for active duty service members, active reservists, honorably discharged service members, as well as retired and disabled service members.VA stands for “Veterans Administration”, which oversees all Veteran benefits including home loans. Established in 1944 and part of the GI Bill or Rights, VA set out to help men and women who served their country catch up to their civilian counterparts by establishing credit and building financial wealth. It’s important to understand that VA does not lend money, VA instead provides lenders a guarantee that covers the lender from loss in the event of foreclosures.  In simple terms VA insures a portion of the loan that the buyer  would have normally had to put down to qualify allowing for a zero down payment. VA loans require an upfront mortgage insurance fee, which can be financed into the loan, from each borrower.  This fee supports the guarantee fund and makes the 100% VA home loan possible.  Veterans with a minimum of 10% disability are exempt from the funding fee.
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