Buying a home in Austin just got easier for US Veterans. Prior to this change a vet had to live in Texas for12 months before being eligible for a Texas Vet loan. In addition, your home of record had to be within Texas. In previous years this rule has often bothered those that feel a vet should be eligible for a vet loan no matter how long they’ve lived in a particular state. Legislators came to agree thus expanding the qualifications. Home of record no longer prevents a vet whose residence lies outside of Texas as well.
Texas Veterans Loan Board is a great choice for those vets looking to purchase a home right now. They can get up to $375,000 financed with no maximum sales price. Which means if you have cash reserves you can go purchase a home greater than $375K.
You can also combine the Texas Vet loan with another VA loan, FHA or Conventional. If that kind of decision makes your head spin, no worries, getting a great lender is all a part of the process. I encourage clients to seek a lender that is knowledgeable in all areas of loans, offers each loan type and can counsel them on what path they should take.
So why take advantage of a Texas Vet loan or a VA loan? No money down and great benefits, especially for those that qualify as a disabled vet. The vet loans are one of the only loans around that offer no money down. USDA being another loan, but a home has to be eligible for that loan type.
Interest rates are always changing – current VA rates can be found at
If you’d like to begin your search for Austin homes – feel free to use my website, and contact me so we can discuss your lending and home options. If you live outside of the Austin area and need help finding a REALTOR or lender in your area, contact me, I have resources to find you a great agent and lender.
Thank you Silvia Ward Carden of United Lending for letting me know about this change.