This BLOG On Houston Housing Market For Veterans Of Our United States Military
The Great City of Houston, Texas is controlled by Oil and Gas, Agriculture, and The Maritime the Texas economy is one that will stand the test of time and flourish. Texas also has one of the highest populations of active, retired, and reservists of members of the United States Armed Services. A large percentage of our borrowers at Gustan Cho Associates are VA Home Loan borrowers. VA Loans is one of the best, if not the best mortgage loan program available in the U.S. Today. Our government rewards the members of our military with the benefit of being eligible for VA Loans.
100% financing and no monthly mortgage insurance with the lowest possible rates is what makes VA Home Loans so attractive. VA Mortgages is only available to veterans of our military with a Certificate of Eligibility (CEO). Gustan Cho Associates does not require any minimum credit scores on VA Loans. There is no debt to income ratio requirements on VA Mortgages. Outstanding charged-off accounts and/or collections do not have to be paid off with VA Home Loans. Gustan Cho Associates Mortgage Group is one of the very few mortgage lenders in the nation that does not have any overlays on VA Home Loans.
Population Of Veterans In Houston And State Of Texas
Houston has one of the highest populations of veterans and members of the U.S. Military. Home values in Houston have been appreciating double digits since 2012 and there is no sign of correction: The Houston housing market and new construction running at the pick of its surge, demands have been high in 2020 and still continues. Houston’s population of foreign-born immigrants is 22.3% according to the American community survey. This number significantly contributed to the growth and demand for housing in Houston and its environs. Houston, Texas is called America’s energy capital for a reason, where there is demand; supply becomes of utmost importance.
Rental Demand In Houston, Texas
The rental demand in the Houston housing market is relatively high and so are the rates. An average 3 bedrooms 2 bathroom home in a decent neighborhood will run a minimum of $1600 a month on rent. That same amount can be a monthly FHA mortgage on a $190,000-$200,000 home that will be yours, where you can build equity and retire on. The taut of homeownership should be uppermost in the mind of every renter. Homeownership is one thing we all have in common as a need, and needs are better meant earlier than later.
The Growth Of The Houston Housing Market
The growth of Huston as a metro city will continue:
- For those who are able to pay rent with a source of income, the time to own is now
- You give away rent to us the Landlords, to write off and you receive nothing but a thank you for being an on-time tenant
- At some time in life, you should put your foot down and give your credit 6 months to be back on track, pay down those debts, and get a middle score of 580 which approves for an FHA loan
Get your own, buy a home, it’s your time to do it.
Houston Housing Market Experience
When I bought my First Home, the interest rate was at 6.75% for a first mortgage with a 740 credit score (the good old days lol):
- Today interest rates are at a historic low which should be a motivating factor for everyone to own
- Things happen for a reason
- This crash in the housing market and the economic crisis which lead to this amazing opportunity for home affordability should be a kick in the rare end, to bring the zeal of the American dream to every renter
Think of other continents like Asia and Africa, where the only means to homeownership was to build from the scratch with your own cash no loans or government assistance:
- However, people still strive to own a home
- Such should be our motivation as Houstonians of endless possibilities and Americans seeking the dream
- FHA (Federal Housing Administration) has made it possible for a person with no money in hand to be approved and purchase a home with little or no money through the introduction of gift funds and seller’s contributions
- Why then can’t we jump on this offer and step into homeownership?
The things that hold you back might not be that much of a problem if taken to or through the right channel. Consult which a lender and a real estate professional today to see the changes you have. A problem shared is half solved, Gustan Cho Associates are always here 24/7 to answer the question and guide you. The lender that really cares.
About The Author
Michael Gracz is a top producing Texas licensed mortgage loan originator with Gustan Cho Associates. A large percentage of Mike Gracz borrowers are Texas active military personnel and veterans of the U.S. Armed Services. Michael Gracz knows all areas of not just Houston, but all of Texas. He is an expert in all fields of real estate including commercial, residential, and special use. Michael Gracz is an expert in all fields of lending including FHA, VA, USDA, Conventional, Jumbo, portfolio, commercial, hard money, and specialty loan programs such as non-QM and bank statement loans for self-employed borrowers. Michael Gracz is a team leader with Gustan Cho Associates Mortgage Group and has a national reputation of being able to do loans other lenders cannot due to not having any overlays. Michael Gracz of Gustan Cho Associates is licensed in many other states besides the Great State of Texas. Michael is one loan officer you should know. Mike Gracz is a guest writer and consultant for Gustan Cho Associates and many real estate attorneys, loan originators, buyers, sellers, title company agents, real estate agents, appraisers, and other real estate industry professionals. These real estate professionals constantly seek Mike Gracz’s professional advice. Mike is always available 7 days a week to all of her clients, associates, and friends.
