Killeen VA Home Loans

Killeen VA home loans help eligible veterans and their families finance a home purchase. Backed by the Department of Veterans Affairs, these loans are less expensive than traditional loans. If you’re interested in applying for a Killeen VA home loan, you’ll need to contact a local lender to learn more about the program and get started on the application process.

Fortunately, there’s no need to look any further than Capital Home Mortgage, a VA-approved lender here to help those who have served our country realize their homeownership dreams. If you’re ready to start your Killeen home search, we can help you get pre-qualified for a VA loan and enjoy its many benefits.

Killeen VA Eligibility Requirements

Many homebuyers are interested in taking advantage of the benefits offered by the VA loan program. VA loans are government-backed loans that offer eligible borrowers significant advantages. If you’re considering applying for a VA loan in Killeen, it’s essential to understand the eligibility requirements of a VA loan.

• Service Requirements 

The first step in determining your VA loan eligibility is establishing that you meet the service requirements. You must have served in one of the following capacities to be eligible for a VA loan:

1. At least 91 days of active duty service during wartime 
2. At least 81 days of active duty service during peacetime 
3. Reserve duty during wartime or peacetime 
4. National Guard duty during wartime or peacetime 

• Income Requirements 

You must demonstrate you have a reliable income. When determining your eligibility, your lender will consider your employment history, income stability, and current earnings. 

While VA loans don’t have a maximum or minimum income requirement, they consider your debt-to-income ratio and capacity to pay. The Department of Veterans Affairs is also concerned with your ability to cover the mortgage, other debts, and monthly expenses. They also look at what’s left over after those things are taken care of, which could be called residual income or money from taxes paid and insurance premiums.

• Credit Score Requirements 

Capital Home Mortgage understands that no matter your credit history, you should be eligible for a VA home loan in Killeen. We work with all applicants to get the best possible deal. VA sets credit score requirements to ensure you’re a responsible borrower. 620 is the required credit score. You may still be eligible for a loan even if your credit score is lower than this threshold.

Killeen VA Loan Benefits

There are many reasons to apply for a VA loan in Killeen. Some of the most popular VA home loan benefits include the following: 

• No down payment requirements 
• Competitive interest rates 
• Flexible credit standards 
• No private mortgage insurance (PMI) is required
• No prepayment penalty for settling early loans
• Borrower assistance to avoid defaults
• Limited closing costs
• Easier qualification than conventional loans

Apply for a Killeen VA Loan

We can assist you in taking advantage of the VA loan program. At Capital Home Mortgage, we’re proud to offer Killeen VA loans to eligible borrowers. As direct lenders, we can provide the lowest interest rates and conditions. We’re also committed to customer service.

To get started, call us at (254) 213-7343, and our professional loan officers will walk you through the following steps.