TEXAS VA BAD CREDIT MORTGAGE LENDERS-MIN 580 FICO
TEXAS VA Mortgage Lenders – Same Day VA Loan Approvals!
US Mortgage specializes in good and bad credit VA mortgage loans even no credit score Texas VA loans in every city and county in Texas VA Mortgage Lenders VA mortgages are guaranteed by the Department of Veterans Affairs (VA). These Texas VA mortgage loans were established to provide transition assistance and other benefits to men and women who served or are serving in the Armed Forces of the Nation. This includes the Army, Navy, Air Force, Marines, Reservists, National Guardsmen, and certain surviving spouses. Also, if you are a disabled veteran, you may qualify for additional Texas VA mortgage benefits. Including reduced or elimination of Texas property taxes. We are proud to provide 100% Bad credit Texas VA mortgage approvals down to 550 fico score va purchase or Texas VA mortgage refinance!
- Easier qualification standards
- Less strict credit and income standards
- 100% Texas VA Mortgage Lenders = No down payment required.
- Bad Credit Score VA loans Down to 550!
- No Credit Score VA Mortgage Loan Approvals.
SAME DAY PRE APPROVALS!
VA Mortgage Lenders Serving VA Purchase and VA Refinance Loans In Every City and County in Texas !
TEXAS VA MORTGAGE LENDERS ELIGIBILITY REQUIREMENTS
You must have suitable credit score MINIMUM 550, sufficient income, and a valid Certificate of Eligibility (COE) to Qualify with a Texas VA mortgage Lenders. The Texas home must be for your own personal occupancy. The approval requirements to obtain a COE are listed below for Service members and Texas Veterans, spouses, and other eligible beneficiaries. VA mortgage loans can be used to:
- Buy a Texas home, a Texas condominium unit in a VA-approved project
- Simultaneously purchase and improve a Texas home.
- Improve a Texas home by installing energy-related features or making energy efficient improvements
- Get VA approved to buy a Texas manufactured home w/land lot.
- Texas Eligibility Requirements for VA Mortgage Lenders
- Service members and Texas Veterans- To obtain a COE, you must have been discharged under conditions other than dishonorable and meet the service requirements below
ESTABLISHED VA MORTGAGE LENDERS MINIMUM TRADE LINES
Texas VA Mortgage lenders allow for both traditional and alternative credit trade lines. However, most Texas mortgage lenders require that you must have at least two lines of credit that you have maintained for at least a 12 month payment history.
Alternative lines of credit for NO CREDIT SCORE MORTGAGE APPROVALS for Texas VA mortgage applicants are used to provide the ability and willingness to pay debt. VA alt trade lines defined as continuing proof of payment for direct service provider obligations, such as electric, cell-phone, home-phone bills, rent history, car insurance, which require a timely monthly payment in order to establish a 12 month payment history. To be used as an alternative credit trade line must have existed for at least 12 months.
Texas VA mortgage lenders do not consider absence of a credit history as an adverse factor. However, a minimum 12 month history of the VA mortgage applicant, including residence, income, assets and credit must be proven.
Texas VA Mortgage Lenders Funding Fee Tables
Texas VA Mortgage Lenders Funding Fee Tables
| Type of Veteran | Down payment | Percentage for First time Use | Percentage for
Subsequent Use
|
| Regular Military | None
5%or more
10%or more
| 2.15%
1.50%
1.25%
| 3.3% *
1.50%
1.25%
|
| Reserves/National
Guard
| None
5%or more
10%or more
| 2.4%
1.75%
1.5%
| 3.3% *
1.75%
1.5%
|
Note:In 2011,funding fees were lower from October 1 through October 5,and November 18 through November 21. The enactment of Public law 112-56,signed November 21,2011,establishes rates at the levels below through September 30,2016.Prior to September 30,2016,we will publish updated information on the fees for loans closed after that date.
Texas Cash-Out Refinancing Loans:
| Type of Veteran | Percentage for FirstTime VA Mortgage Use | Percentage for Subsequent VA Mortgage Applicants |
| Regular Military | 2.15% | 3.3% * |
| Reserves/National Guard | 2.4% | 3.3% * |
Note:There are no reduced funding fees for regular refinances based on equity.Reduced fees only apply to purchase loans where a down payment of atl east
*The higher subsequent use fee does not apply to these types of loans if the Veteran’s only prior use of entitlement was for a manufactured home loan.
| VA Status | Qualifying Wartime & Peacetime Periods | Qualifying Active Duty Dates | Minimum Active Duty Service Requirement |
| Texas Veteran | WWII | 9/16/1940 – 7/25/1947 | 90 total days |
| Post-WWII | 7/26/1947 – 6/26/1950 | 181 continuous days | |
| Korean War | 6/27/1950 – 1/31/1955 | 90 total days | |
| Post-Korean War | 2/1/1955 – 8/4/1964 | 181 continuous days | |
| Vietnam War | 8/5/1964 – 5/7/1975 *For Veterans who served in the Republic of Vietnam, the beginning date is 2/28/1961 | 90 total days | |
| Post-Vietnam War | 5/8/1975 – 9/7/1980 *The ending date for officers is 10/16/1981 | 181 continuous days | |
| 24-month rule | 9/8/1980 – 8/1/1990 *The beginning date for officers is 10/17/1981 | · 24 continuous months, OR
· The full period (at least 181 days) for which you were called or ordered to active duty
| |
| Gulf War | 8/2/1990 – Present | · 24 continuous months, OR
· The full period (at least 90 days) for which you were called or ordered to active duty
| |
| Currently On Active Duty | Any | Any | 90 continuous days |
| Texas National Guard & Reserve Member | Gulf War | 8/2/1990 – Present | 90 days of active service |
| · Six years of service in the Selected Reserve or National Guard, AND
· Were discharged honorably, OR
· Were placed on the retired list, OR
· Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, OR
· Continue to serve in the Selected Reserve
| |||
*If you do not meet the minimum VA service service requirements, you may still be eligible if you were discharged due to (1) hardship, (2) the convenience of the government, (3) reduction-in-force, (4) certain medical conditions, or (5) a service-connected disability.
Spouses The spouse of a Texas Veteran can also apply for home loan eligibility for a VA mortgage under one of the following conditions:
- Un remarried spouse of a Texas VA who died while in service or from a service connected disability, or
- Spouse of a Texas Service members missing in action or a prisoner of war
- Surviving Texas spouse who remarries on or after attaining age 57, and on or after December 16, 2003
(Note: a surviving Texas spouse who remarried before December 16, 2003, and on or after attaining age 57, must have applied no later than December 15, 2004, to establish home loan eligibility. VA must deny applications from surviving spouses who remarried before December 6, 2003 that are received after December 15, 2004.) - Surviving Texas Spouses of certain totally disabled veterans whose disability may not have been the cause of death
Although Texas VA mortgage do not have a maximum dollar amount, Texas mortgage lenders who sell their VA loans in the secondary market must limit the size of those loans to the maximums prescribed by GNMA (Ginnie Mae) which is currently 417,000..
Any Texas homestead by a veteran who was honorably discharged with a service-connected permanent and total disability and for whom a letter from the United States Government or VA or its predecessor has been issued certifying that the veteran is totally and permanently disabled is exempt from taxation, provided the veteran is a permanent resident of the state on January 1 of the Texas tax year for which property exemption is being claimed or on January 1 of the year the veteran died.
- No money down for Texas VA loans up to $417,000.
- Seller paid closing cost up to 4%.
- No PMI (Private Mortgage Insurance)
- Government regulated Texas VA loan closing costs.
- VA streamlined refinance loans can be closed in 7 to 14 days
- VA BAD CREDIT TEXAS MORTGAGE DOWN TO 580 FICO.
- No limit to the number of times a veteran may use a VA mortgage.
- NO CREDIT SCORE TEXAS VA HOME LOANS USING ALTERNATE TRADE LINES.
In addition to these benefits, the VA Mortgage Loan program offers default assistance to veteran borrowers in financial difficulty through a higher level of service and a greater range of alternatives to avoid foreclosure. Delinquency and foreclosure rates for VA mortgage loans are substantially less because of the VA mortgage protections in place.
The Veterans Administration assesses a Funding Fee to all VA loans between .5% and 3.3% of the loan amount. The VA mortgage funding fee is added into the VA mortgage amount of the loan to be paid over the life of your VA mortgage loan. The VA mortgage Funding Fee replaces the much higher priced Texas (PMI) Mortgage Insurance required when you get a conventional home loan. Disabled Texas Veteran homebuyers may even qualify to get the fee waived completely.
The VA offers excellent qualifying standards. The VA does not use credit scoring as their primary analysis of the loan. Texas VA mortgage applicants with some past financial difficulties may still qualify for a VA mortgage loan. The VA mortgage can be a tremendous savings compared to the cost of conventional loans for those veterns with past credit issues.
Texas VA mortgage loans have built in features allowing a Texas VA mortgage to be refinanced to a lower interest rate without all of the criteria normally red tape associated with a conventional mortgage. This is called an Interest Rate Red
ALL TEXAS SITUATIONS ARE WELCOME- SERVING EVERY CITY LOCATION IN TEXAS INCLUDING:
Texas Cities with populations over 10,000 include: Abilene, Alice, Alvin, Amarillo, Andrews, Angleton, Arlington, Athens, Bay City, Beaumont, Beeville, Belton, Big Spring, Borger, Brenham, Brownsville, Brownwood, Bryan, Burkburnett, Canyon, Carrollton, Cedar Park, Cleburne, College Station, Conroe, Converse, Copperas Cove, Corpus Christi, Corsicana, Dallas, Del Rio, Denison, Denton, Dumas, Eagle Pass, Edinburg, El Campo, El Paso, Ennis, Fort Worth, Freeport, Gainesville, Galveston, Gatesville, Georgetown, Greenville, Groves, Harlingen, Henderson, Hereford, Hewitt, Houston, Humble, Huntsville, Ingleside, Irving, Jacksonville, Kerrville, Kilgore, Killeen, Kingsville, La Marque, Lake Jackson, Lamesa, Laredo, Levelland, Lewisville, Live Oak, Lockhart, Longview, Lubbock, Lufkin, Mansfield, Marshall, McAllen, McKinney, Midland, Missouri City, Mount Pleasant, Nacogdoches, New Braunfels, Palestine, Pampa, Paris, Pasadena, Pecos, Plainview, Plano, Port Arthur, Port Lavaca, Portland, Richmond, Rio Grande City, Rockwall, Roma, Round Rock, San Angelo, San Antonio, San Benito, San Marcos, Seguin, Sherman, Snyder, Socorro, Stephenville, Sugar Land, Sulphur Springs, Sweetwater, Taylor, Texas City, Tyler, Uvalde, Vernon, Victoria, Vidor, Waco, Waxahachie and Wichita Falls.
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BAD CREDIT TEXAS FHA MORTGAGE LENDERS: Down payment only 3.5% of the purchase price. Gifts from family or FHA Grants for down payment assistance and closing costs OK! Sellers can credit the buyer’s up to 6% of sales price towards buyers costs and pre-paid. No reserves or future payments in account required.
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3.5% Texas FHA Mortgage Lenders Min 580 FICO!!
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3.5% Texas FHA Mortgage Lenders Min 580 FICO!! Same Day FHA, VA, Bad Credit Texas Mortgage Loans Pre Approvals Call Now 954-667-9110.
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Texas VA Mortgage Lenders
Lenders are persons or entities (private sector or government) that originate, hold, service, fund, buys, sells or otherwise transfers a loan guaranteed by the Department of Veterans Affairs. The links below are provided as resources for VA lenders.
Texas VA Mortgage Lender Resources
- Lenders Conference Information
- Quick Reference Instructions for Prior Approval Loan Processing for Lenders
- Quick Reference Document for Condo Approval for Lenders
- Correct COE Quick Reference
- LGY Newsletter
- Lender Loan Volume Reports
- Loans by State
- Loan Volume by County
- Lender’s Certificate of Eligibility (COE) Tutorial
- Lender/Servicer Administrative User Guide
- Announcements
- Lender’s Handbook
- Stakeholder Videos
- Training Broadcasts for Industry Partners and Program Participants
- Regional Loan Centers
- VA Loan Guaranty Circulars
- VA Loan Eligibility
- VA Loan Limits
- State Fees and Charges Deviations
- Veterans Information Portal
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