Using a VA Loan in the Dallas-Fort Worth Area
Are you an active duty, veteran, or retired member of the military? If so, you could qualify for the VA loan, a special type of mortgage that can make buying a home in the Dallas-Forth Worth area more affordable! VA loans come with quite a few perks, including low down payment requirements, amazing interest rates, and so much more. And if you have any questions about the process, we'd be happy to help you out. Our team has plenty of experience helping VA loan buyers purchase the home of their dreams!
How to Qualify for a VA Loan
Be a member of the military
In order to qualify for a VA loan, you must be an active or retired service member, a veteran, spouse, or another specific eligible beneficiary.
Have your finances in order
VA loan applicants typically have a credit score of around 600 or more, sufficient income, and a valid Certificate of Eligibility. These qualifications can vary from person to person, so be sure to examine your personal financial situation before applying.
Purchase a primary residence
VA loans can only be used to purchase a primary residence. Single-family homes, condos, and other types of properties are all eligible. Sometimes, the loan can be used to build or repair a home, as well as refinance an existing loan.
Why Choose a VA Loan?
$0 down payment
Unlike conventional loans, where you have to put down anywhere from 5% to 20% of your home's overall value, the VA loan does not require a down payment.
No private mortgage insurance
VA loans are guaranteed by the government, so banks will not require you to purchase private mortgage insurance (PMI) for your loan.
Low interest rates
Believe it or not, VA loans have some of the lowest interest rates available. Most loans come with rates between 2.2% and 3% (as of 2021), depending on the duration of the mortgage.
Easy to qualify
Because VA loans are backed by the federal government and not a private lender, it's significantly easier to qualify.
Lower closing costs
For VA loans, the seller will typically pay some of a buyer's loan-related closing costs.
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We're committed to assisting active-duty, veteran, and retired military members in achieving success in the Dallas-Fort Worth real estate market. For more information about the services we offer, and what we'll bring to the table when it comes to buying your dream home, please don't hesitate to give us a call.