Odessa VA Mortgage Lender
Odessa VA Home Loans
The option to apply for a VA loan is one of the significant perks of serving in the military. The US Department of Veterans Affairs extends these loan benefits to military veterans, active-service members, or their surviving spouses. The Department of Veterans Affairs only guarantees mortgages made under the VA loan program, as with most government mortgage programs. You will need to seek a private mortgage lender who is licensed and willing to provide financing. If you are looking for a VA mortgage lender in Odessa, TX, your best bet is to work with the home loan experts at Capital Home Mortgage. Contact us now to find out more about our services!Are You Eligible for a VA Home Loan?
Borrowers seeking a VA loan must meet the minimum requirements established by the VA and their preferred mortgage lender. The eligibility requirements for VA loans in Odessa, TX, are the same as those in every other state in the country. Members of the armed forces who wish to apply for a VA loan must have served:- A minimum of 81 days in peacetime.
- A minimum of 91 days of active duty during a war.
- A minimum of six years in the Reserves or National Guards.
- The service member passed away from military-related causes.
- At least 90 days had passed since the service member went missing in action or was taken prisoner of war.
- The surviving spouse is still unmarried.
VA Loan Income Requirements
As long as you can afford the mortgage payments with your current income, you have a good chance of qualifying for a VA loan. Moreover, borrowers with low debt-to-income ratios may be eligible for a larger mortgage. The most you can borrow with a VA loan is $647,200, but you can apply for a VA Jumbo loan if you need more.VA Loan Credit Score Requirements
Veterans Affairs (VA) loans technically do not require a minimum credit score, but most mortgage lenders do. Nonetheless, the minimum credit score needed to qualify for a VA loan is significantly lower than other loans, typically falling below the 600 range. This is primarily because of the government guarantee that safeguards creditors against defaults.VA Loan and Bankruptcy
VA loans make provisions for applicants who have declared bankruptcy under Chapter 7. Bankruptcies discharged for two years or more are disregarded, while lenders are given the authority to decide on bankruptcies discharged for less than two years. In case of a Chapter 13 bankruptcy, the borrower must demonstrate twelve months of continuous payment.VA Loan Benefits
In most cases, a borrower can get a VA loan with no money down. Although this does not guarantee that you will incur no costs at closing, many resources are available to help you save money on your down payment and other closing expenses. Other benefits of VA mortgages include:- There are no monthly mortgage insurance payments
- There are no prepayment fees.
- The seller may contribute up to four percent (4%) toward the buyer’s closing expenses.
- Disabled veterans and their surviving spouses are exempt from paying the one-time, non-refundable variable funding fee.
Is the VA Home Loan a Good Option?
Your circumstances will determine whether a VA loan is your best option. That said, the VA loan offers the best financing terms to most veterans and eligible service members. On top of that, you can get the best mortgage rates and first-rate service when you work with a seasoned mortgage lender like Capital Home Mortgage. Are you interested in our VA loan program? Contact us at (432) 218-4828 right away!Why Odessa HomeBuyers are Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Low Rates & Low Fees
Direct Lender with Competitive Rates and Low Fees
Exceptional Service
7 Day a Week Support Application to Final Mortgage Payment
Odessa 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
Odessa VA Purchase Loans
Proudly Serving Active Duty, Retired and Disabled Veterans obtain homeownership. Call today to speak to a VA loan officer.
- Simply Qualifying for Veterans
- No Down Payments Requirements
- Lower Credit Scores Accepted
- Manual Underwriting Allowed
- No Monthly Mortgage Insurance
- Seller concessions to 4%
- higher debt to income Allowed
- Manufactured homes permitted
Odessa VA Refinance
Proudly Serving Active Duty, Retired and Disabled Veterans to Save Money. Call today to speak to a VA loan officer.
- VA IRRRL Rate & Term
- Streamline Option
- No Appraisal Required
- No Income Verification
- Cash-Out or Loan Conversion
- Full Documentation
- Appraisal Required
- Income Verification Required
Odessa VA Eligibility
- 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
Texas Mortgage Programs
Texas Home Purchase
Thinking of Buying a Texas Home?
Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.
- Primary, Secondary, Investment
- FHA, VA, USDA, Native American
- Conventional, Jumbo, Non QM
- Reverse, Renovation, Manufactured
Texas renovation home loans
Looking to Rehab a Texas Home?
Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan? Purchase the Perfect Home and make it your own. Call today.
- Remodel, Renovate or Repairs
- FHA 203K Streamline or full
- fannie mae homestyle reno
- freddie mac home choice reno
Texas FHA Home Loans
Great for 1st Time Texas Homebuyers
FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket. Call today to get started.
- Smaller Down Payment
- Flexible Underwriting
- Higher Debt to Income Ratios
- Lower Credit Scores OK
Texas VA Home Loans
100% Financing for Texas Veterans
Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.
- Simply Qualifying for Veterans
- No Down Payments Requirements
- Lower Credit Scores Accepted
- Manual Underwriting Allowed
Texas Conventional Home Loans
Flexibility for Texas Homebuyers
Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.
- Primary, 2nd Home, Investment
- Great Rates & Low Fees
- Single Family and Multi-Family
- Renovation Loan Programs
Texas Jumbo Home Loans
Texas Non Conforming Loans
Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits. Call today to speak to a loan officer.
- Primary Residence and 2nd Homes
- Higher Loan Amounts – 3 Million
- Great Interest Rates
- Investor Specific Guidelines
Texas USDA Home Loans
100% Rural Texas Home Loans
USDA Loans are a great option for families wanting to live outside of the city. Call today to speak with a loan officer to discuss your personal loan options.
- Rural Properties Only
- Primary Residence Only
- Geographic Restrictions
- Income REstrictions
Texas Native American Home Loans
Texas HUD 184 Home Loans
HUD 184 Home Loans are solely for Native American and offer a variety of benefits. Call today to speak with a loan officer to find out more.
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
Texas Manufactured Home Loans
Great Alternative Texas Housing
Manufactured Home Loans offer options to purchase an existing residence or build your dream home on your own land. Call today to speak to a Loan Officer.
- Existing Purchase or Refinance
- OTC Land/ Home Combo
- Lock Rate Before Completion
- FHA, VA, USDA, & Native Loans
Texas reverse mortgages
Your Texas Home at Work
Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.
- primary residence only
- simple qualifying – equity based
- credit scores not applicable
- Minimum age 62
Texas Non QM Home Loans
Making Texas Mortgages Possible
Looking for Non Traditional Home Mortgage Loan? Contact a Loan Officer Today to discuss the alternative mortgage options currently available.
- Purchase, Rate and Term & Cash-out
- Primary, Secondary and Investment
- Full Doc & Bank Statements Programs
- Corporations OK
Texas One Time Close mortgages
Build Your Texas Dream Home
Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan. Call today to see how a OTC loan works.
- Primary Residence Only
- Close Once
- Lock Rate at Contract
- Traditional Final Mortgage
Texas Refinance Mortgage Loans
Texas Rate & Term Refinance
Refinancing can be a hard decision and the payback can sometimes be confusing. Call today and let our Loan Officers walk you through the process.
- Reduce Mortgage Term
- Lower Monthly Payments
- Appraisal Waivers
- Streamline Options Available
Texas Cash-out Home mortgages
Texas Equity Mortgage Loans
Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Vacation or Education
