San Antonio VA Loans
Housing prices in San Antonio, TX have dropped substantially in the past several months, making it an ideal time to purchase a home in the area. For Texan veterans, the home buying process is even more affordable when done with a VA Loan. With a VA Loan you get many benefits and it’s easy to qualify. If you’re looking to relocate to San Antonio, first take a look at what you can get with a VA Loan.
Benefits
When you qualify for a VA Loan you get to enjoy many benefits over a conventional loan. First off, with a VA Loan you won’t have a down payment. This means that even if you don’t have any money saved up, you can still get a really great house without any huge out-of-pocket expenses. The loan limits are very high in San Antonio as well, so you can get that big, beautiful family home you’ve always wanted and still not have a down payment. With a VA Loan you also won’t have to pay Private Mortgage Insurance (PMI) since the VA guarantees up to half the total amount of the loan. In many cases, you might even be able to talk your lender down to a lower interest rate than what conventional loans are going for. With all the benefits and discounts available, it is a much, much more affordable loan overall.
Qualifying
Before you can qualify for a VA Loan in San Antonio, you will have to prove your eligibility. The VA requires you to have served 181 days of regular active-duty service before you can be eligible. For ex-military, this time frame is the same unless you were active overseas during wartime in which case you only need to have served 90 days. There are also exceptions for veterans who were POW’s or were injured in combat. In all situations the veteran must have been discharged under honorable circumstances. To determine whether you qualify, you must first go to the VA’s website to submit an eligibility form.
Right now is a great time to buy in San Antonio while housing prices are low and VA Loan limits are high. You will be amazed at just how much house you can get for your dollar.
Get qualified today for a VA loan or a VA refinance by filling out our 1-minute quote request form.
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