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Clarifications to VA Home Loan Myths Hurting the Home Buyers

The VA home loan in Texas is the most powerful home buying tool in the market. They provide low-interest rate loans and also has several other benefits.

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Clarifications to VA Home Loan Myths Hurting the Home Buyers

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  1. Clarifications to VA Home Loan Myths Hurting the Home Buyers The​ VA home loan in Texas ​​is the most powerful home buying tool in the market. They provide low-interest rate loans and also has several other benefits. There are several myths and misconceptions with this loan which needed to be sorted out. Myth 1: VA Loans take forever to close. Actually not, in fact, the ​VA home loan in Texas​ close as fast as the others and they are more likely to close faster than both the FHA and conventional loans. There is a misconception that the VA loans get delayed by heavy paperwork and bureaucracy but in reality, there is greater automation and efficiency in getting a VA loan due to the improvements in recent years. The best VA lenders in Texas have confirmed that the average conventional and VA purchase loans close in 44 days. They are more likely to close faster than their conventional counterparts.

  2. Myth 2: This is a lousy loan product. This myth is totally wrong and in fact, this is one of the best loan options available in the market. The VA loans don’t require to make a down payment and the qualified buyers can purchase up to $417,000 in most locations. Many other loans require 3.5-5 % down payments. VA also limits best VA lenders in Texas in charging the closing costs. Myth 3: You need great credit to get one. Another myth is that you will require great credit to get the VA loan but in reality, the VA loans don’t even need “good” credit. In fact, the VA loans are more lenient than conventional loans when it comes to your credit history. VA has no credit limit and the VA lenders generally look for 620 FICO score which in layman’s terms means “fair” credit. Other conventional loans require a minimum 660 credit score and some require 740 for getting the best rate and terms. Now, we guess you have sufficient trust after clearing up all the myths and would consider VA loans when you buy your next home. To Contact Us Company Name: ​​Simplifi Loans Address: ​​14114 Dallas Parkway Ste 560 Dallas, Texas 75254 Phone:​​ 8885071756 Email id: ​​info@simplifiloans.com Website:​​​https://www.simplifiloans.com/ To Connect With Us

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