VA Loans Still A Great Option

If you are a Veteran and have VA eligibility I have a great news for you... Not a lot of change from a year ago!!! We closed a veteran today with a fantastic low fixed interest rate today on a 30 year mortgage. VA does have it's own idiosyncrasies but they are all common sense and can be overcome. First VA requires a termite inspection as well as a septic and well inspection if you have a private water source. On the VA loan that we closed today the buyer chose to put 5% down however VA still allows for $0 down and $0 closing costs if you can get the seller to agree to pay all of your closing costs. Also another nice feature of the VA home loan if you are purchasing a lower priced home is that the seller does not have a maximum amount of seller concession such as the 6% rule on FHA loans! This is a great tool when you are looking for a No Down Payment and No money at closing option for home financing. Or as the program has been billed for years as a VA NONO. The lending landscape has changed immensely however some of the tried and true products that have been around for years are still thriving in the lending climate that we are currently in. Also this home in Erath County was on a private road and has an Ag Exemption which can be a deal breaker on other types of loans. This loan was in Stephenville, TX and made to two teachers. The real estate in Stephenville is still in high demand from the indications that we have seen. The main problems in this area seems to be some sellers are still priced too high but for any homes that are priced appropriately the market seems to be moving at a respectable rate. If you have any questions about home loans don't hesitate to comment and let me know!
Brad