Sealy Texas VA loan benefits

Mortgage and Lending with CrossCountry Mortgage NMLS # 243437

There are many benefits to a VA home loan. It’s important to know how these loans can help you. First, thank you for your service to our country. According to the Mortgage reports, VA loans stand apart for its combination of low rates, lenient underwriting, and secondary benefits. These are 10 Sealy Texas VA loan benefits in 2020. These are:

  1.        No down payment on a VA loan
  2.        No mortgage insurance
  3.        VA loans have a government guarantee
  4.        Your ability to shop and compare VA loans
  5.        VA loans don’t allow a prepayment penalty
  6.        They come in many varieties
  7.        It’s easier to qualify for a VA loan
  8.        VA loan closing costs are lower
  9.        The VA loan offers funding fee flexibility
  10.    VA loans are assumable

Backed by the U.S. Department of Veterans Affairs, VA loans are designed to help active-duty military personnel, veterans and certain other groups become homeowners at an affordable cost. Most loan programs require you to make a small down payment to buy a home. That is not the case with a VA loan. The federal government guarantees that a portion of the loan will be repaid to the lender even if you’re unable to make monthly payments.

To find out if you are eligible for a VA loan, please visit

Sealy Texas VA loan benefits require specific documentation, an acceptable credit history and sufficient income to make your monthly payments. However, compared to other loan programs, VA loan guidelines tend to be more flexible because of the VA loan guaranty. The interest rates for VA loan are lower than conventional loans and the higher your credit score the better your interest rate will be.

There are some basic VA service requirements to qualify for a VA loan according to the U.S. Department of Veterans Affairs, these are:

  •          Served for 90 consecutive days of active service in wartime
  •          Served for 181 days of active service during peacetime
  •          Has more than 6 years in the Reserves or National Guard
  •          Active-duty Service personnel
  •          Service personnel on active duty who has served for 90 consecutive days

Qualifying VA income

  •          Salary/W2
  •          LES stipulated military income
  •          Part-time income
  •          Second job
  •          Bonus or Overtime income
  •          Seasonal employment
  •          Self-employed income
  •          Child support or Alimony

Non-Qualifying VA Income

  •          Lottery winnings
  •          Gambling
  •          Unemployment payments
  •          One time bonuses
  •          One time payments from an employer
  •          Non-Occupying co-borrower income
  •          Inconsistent income history
  •          Unverified Income
  •          Rental Income

Finally, you may also be eligible if

  •          You are an un-remarried spouse of a Veteran who died while in service or from a service-connected disability
  •          You are a spouse of a Servicemember missing in action or a prisoner of war
  •          You are a surviving spouse in receipt of Dependency and Indemnity Compensation (DIC) benefits in cases where the Veteran’s death was not service-connected.

To get started on a VA loan in Sealy TX, you can apply here:

To find out more information on Sealy Texas VA loan benefitsyou can contact Joy Bates, Senior Mortgage Banker and certified VA lender, at 817-860-3232 (O), 817-913-5556 (C) or email She is ready to assist you!

Posted by

The Legacy Group of CrossCountry Mortgage

Chad and Joy Bates NMLS #243437


1205 West Abram St. 

Arlington, TX 76013