No Down Payment, Low-Interest VA Loans in Dallas, TX
We Assist Veterans Secure their Dream Homes Through VA Loans in Dallas, TX.
- No down payment
- VA does not require private MIP
- Limit on the number of origination fees and closing costs that the lender can charge
- Limit also placed on appraisal fees
- Borrower with eligibility remaining must have a Certificate of Eligibility from the VA
- Closing costs can be paid by the lender and the seller.
- Borrowers are required to make a one-time funding fee based on the loan amount and the applicant’s service length.
What is a VA Loan?
This is a mortgage loan program authorized by the United States Department of Veteran Affairs for veterans and members of the U.S. armed services. The purpose of the loan is to present financing benefits for veterans and military spouses looking to make down payments on new homes.
Eligibility for a VA Mortgage in Dallas, TX
If you’re a current or former member of the National Guard, military, or reserves, you’re eligible for a VA mortgage loan. What’s more, spouses of military members who’ve died on active duty or due to a service-related disability can apply for this program.
Usually, active-duty members need to have 6 months of honorable service to become eligible for a VA loan. National Guards and reservists need to complete at least 6 years of service. Alternatively, they can get called to active duty before the six years are up and become eligible after 181 days of service.
Eligible borrowers must have a Certificate of Eligibility which can be filled online. Nevertheless, you don’t need the certificate in hand to start the process.
Fast, Stress-Free VA Loans in Dallas, TX
No Down Payment Required
VA loans don’t require any down payment if you’re eligible. This helps save time and streamline the home buying process.
Since VA loans are administered by the Department of Veterans Affairs, they lower risks to financial institutions. As a result, these institutions offer lower interest rates for them.
No Private Mortgage Insurance (PMI)
With the VA loan, you don’t need to pay the Private Mortgage Insurance no matter how much you set aside as a down payment.
Get Your Dream Home with Our VA Loans in Dallas, TX
Take advantage of VA loans to enjoy additional savings with no mortgage insurance requirement and low-interest rates. Talk to Supreme Lending today and start with your Dallas VA Loan process.