Call Craig anytime to explain your mortgage financing options as a veteran; here is some general information to get you started.
Financing for veterans
To use the VA Guaranteed Loan
One of the least restrictive
Min 620 credit score –
Highest Debt to Income (DTI) ratio; over 50% if buyer has “assets” to use as collateral
Zero money down – but still will have closing costs
Funding fee: 2.30% for first time use, 3.6% thereafter – 0% down
Can roll into loan
Funding fee of 1.65% with 5% down and 1.40% with 10% down
Waived for 10% or higher VA disability rating
Need to prove your eligibility
Active duty orders, DD-214, Certificate of Eligibility (COE), Points Statement (National Guard and Reserves)
When you sell, you get your VA eligibility back
No private mortgage insurance (PMI) required
Pay attention to your Credit
- Pull credit report once a year
- Don’ts
o Don’t try to understand…it’s counter intuitive
o If credit is low? Don’t try to “fix” it yourself
o Don’t use “24 months same as cash”
o Don’t close your oldest account; could lower your score
- Do's
o If credit is good? Keep doing what you’re doing. Don’t try to “raise” it yourself
o Use your credit; Keep low minimum balances on every account
o Pay your bills on time, every time.
Proudly serving our veterans
Hall American Realty Craig Hall, USAF Ret., MBA, GRI, ABR, SRES
Broker/Founder/Owner
Phone: 210-540-9585 Email Craig
Please click here for Information About Brokerage Services (IABS) as directed by Texas law.
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