Dallas VA Loans
For qualified veterans looking to relocate to the Dallas or Ft. Worth areas, right now is a great time to buy a house with a VA Loan. Housing prices are at an all time low and loan limits have increased in these areas making it possible to buy big, beautiful houses for an incredible deal. Here are a few of the many great benefits of using a VA Loan.
No Down Payment
When you use a VA Loan to purchase your new house in Dallas or Ft. Worth, you will not be required to provide a down payment. With a conventional loan you might pay anywhere from 5 – 20% for a down payment which can add up quickly. This is great for first time homeowners and young couples who don’t have enough money saved up for a hefty down payment on the house.
No Monthly Insurance
Because the VA is essentially insuring your loan for a certain amount, you won’t be required to pay private monthly mortgage insurance. This really helps cut down your monthly expenses which can then be used on other bills like utilities and groceries.
Low Interest Rates
With a VA Loan you are such a secure, desirable borrower that you can often get an interest rate that is very competitive. There may even be some cases where you can negotiate with your lender for an interest rate that is below the current mortgage market rate.
Flexible Repayment Plans
The VA has created five different types of repayment plans that cater to individual income levels and needs. These include: traditional fixed, traditional ARM, hybrid ARM, growing equity mortgage and graduated payments mortgage. The traditional fixed is great for people who like steady, stable payments year after year, whereas the growing equity mortgage is great for families who will be able to afford higher payments overtime and want to pay off the loan faster.
Additional Benefits
These are just a few of the many benefits that come with a Dallas or Ft. Worth VA Loan. Some other benefits also include minimal closing costs, easy approval and simple refinancing. Plus, with a VA Loan you get the full support of the VA whether you have any questions, concerns or trouble making payments.
How to Get Started Today
It’s never been easier to get started with a VA refinance. Simply fill out our secure 1-minute quote request form and start comparing rates today.
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