VA financing, as well as TexVet, offer 100% of the sales price plus a certain portion of closing costs to be rolled into the loan. This may make your loan effectively 103% or more LTV (loan to value). Current TexVet rates are 5-3/8% with nominal closing costs.
You still have to qualify on the basis of income and meet the DTI (debt to income) ratios for VA, but these are more flexible than FHA or other loan types.
FHA financing by comparison requires 3 to 3-1/2% cash to be paid by the borrower.
There is another loan program that offers 100% financing similar to VA-guaranteed but it is not available inside the county of Dallas.
No matter what your requirements are, please contact us via my profile or the websites for more information.
Contact my office 972-699-9111
During the subprime days, a lot of folks were steered away from VA loans because of some of the safeguards for vets that were built into the process but were obstacles and nuisances for some lenders.
For instance, when we got our VA loan in 1983, we were required to get an inspection by a VA approved inspector. Today virtually every realtor will do almost anything within their powers to make sure that any buyer gets an inspection on any prospective home purchase. An ounce of prevention .... Better safe than ...
There's a reason we have those old sayings.
Things have changed a lot since then, but with all the vets coming back and the changing dynamics of the real estate and mortgage markets, I anticipate that VA loans will have a resurgence.
This link (http://www.teambateman.com) is to one of the mortgage companies I use. Their website is very user friendly and should help you explore the issue fully.
Here is the link to the Veteran's information portal at the VA website. It is designed for the veteran's use and includes an application. https://vip.vba.va.gov/portal/VBAH/Home
Texas veterans also have additional resources available to them from the Texas Veterans' Land Board. Here is that website also. http://www.glo.state.tx.us/vlb/
I'd love to work with you and your family. Free free to contact me.