VA Loans Texas Mortgage Lender With No Overlays On Home Purchases

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VA Loans Texas Mortgage Lender With No Overlays On Home Purchases

This BLOG On VA Loans Texas Mortgage Lender With No Overlays On Home Purchases Was Written By Michael Gracz

Texas is one of the fastest growing states in the U.S. Michael Gracz of Gustan Cho Associates Mortgage Group at Loan Cabin Inc. has more VA Loans Texas borrowers than any other states in the United States.

  • More and more people are migrating to the Great State of Texas. Among the new comers to this great state are veterans of our military
  • There are more veteran home buyers in the state of Texas than any other state in the Union
  • A substantial amount of new veteran citizens who are migrating to Texas are veterans from California
  • California has more veteran home buyers leaving that state and coming to Texas to make the state of Texas their home
  • Gustan Cho Associates Mortgage Group has more VA Loans being originated from Texas than any other states in the United States

Making Texas Home For Veteran Home Buyers

VA loans Texas are in high demand already as we approach the halfway point of 2018. Why is this?

  • Texas is growing, and growing rapidly
  • Increasing the demand for homes
  • This has also created an uptick in the housing market
  • In 2014 there was a 4% growth in overall population throughout the Lone Star state
  • Then in 2015 Texas ranked second in relocation activity
  • Texas is only behind the state of Florida according to the Texas Association of Realtors

Why Texas Made National News

What has attracted all of these out of state migrants?

  • The diverse job market and high quality of life for starters!
  • This is true for cities both big and small
  • Let’s not forget the weather as well!
  • According to the same article, 2017 was the third year in a row where Texas added over 500,000 new residents
  • High numbers of new Texans have arrived from California, Florida, Oklahoma, Colorado, Louisiana, and Illinois. Dallas- Fort Worth has the highest growth from out of state residents followed by Houston and Austin
  • Many Lenders who specialize in VA Loans Texas have lender overlays
  • Michael Gracz of Gustan Cho Associates Mortgage Group at Loan Cabin Inc. is one of the top mortgage bankers who is nationally know for its no VA Loans Texas

Explosive Texas Veteran Population Growth With No Signs Of Slowdown

We now can agree Texas is adding over 1,000 new residents a day. Many of those new residents served our country and are eligible for VA mortgage financing.

Why choose a VA Loan?

  • No Down Payment Required
  • Lower Interest Rates
  • No Minimal Credit Score Requirements
  • Higher Debt-To-Income Thresholds
  • Sellers Can Pay Closing Costs

What are the steps to obtaining a VA loan? The answer is very simple:

  1. Obtain your COE (please see COE Instructions Blog)
  2. Reach out to Mike Gracz from the Gustan Cho Associates

Get Qualified For VA Loan Texas With Direct Lender With No VA Lender Overlays

Gather other supporting documentation:

  • Last 60 Days Bank Statements – to source money for escrows
  • Last 30 Days Pay Stubs
  • Last Two Years W2’S
  • Last Two Years Tax Returns
  • Driver’s License (or other Government issued photo ID)

Qualify And Become Texas Veteran Homeowner 

Once you have these items you will be able to get a FULL PRE-APPROVAL.

  • That’s right, an underwriter from The Gustan Cho Team at Loan Cabin Inc. will thoroughly examine borrowers documentation and issue a LOAN COMMITMENT
  • It is important to understand the difference between a Pre-Qualification Letter and a Pre-Approval Letter, see TBD UNDERWRITING PROCESS BLOG for more information

VA Loans is hands down the best mortgage loan program. Unfortunately, only veterans with a valid Certificate of Eligibility can qualify for VA Mortgages.

Here are the basic qualification requirements:

  • We are direct VA lenders with no overlays
  • No credit score requirements nor debt to income ratios
  • We only go by automated underwriting system approval findings
  • Outstanding collections or charge offs does not have to be satisfied
  • No waiting period during Chapter 13 repayment nor discharged date of Chapter 13 discharged date

About The Author Michael Gracz

Mike Gracz and is a VA Loan expert. Michael Gracz is fully licensed in the state of Texas.

  • We do not have any lender overlays on VA loans
  • We will underwrite and approve VA loan based directly off your AUS FINDINGS
  • There are very few situations we have not seen before
  • The VA Loan limit (without a down payment) is $453,100 throughout the entire Lone Star State
  • If you would like to use your VA Loan and buy a more expensive home, call me on 630-659-7644 to calculate how much down payment is required

Even if you have been turned down for a VA loan before, make sure you contact us. We can help you achieve your home buying goals! Remember most banks and lending institutions have LENDER OVERLAYS which can stop borrowers approval. Many of my clients were told they need a 620 or even a 640 credit score before they qualify, THAT IS NOT TRUE. HUD does not have a credit score requirement for VA loans, neither do we. We specialize in manual underwriting VA Loans. I am always available for one-on-one consultations. I have help many Veterans get themselves and their families into their dream homes! Start building equity in your home today!

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