Usually around Veteran’s Day or other patriotic holidays I like to post reminders about some of the home buying benefits or specific programs offered to our nation’s vets, or updates about same. And then it occurred to me: why am I waiting for just those few occasions? It’s not like those are the only days our armed services members need to know this kind of stuff. So with that thought in mind, here are a few updates on new and existing home buying programs all service members, whatever their status, should be aware of.
VA LOAN LIMIT INCREASES
The Veteran’s Administration has announced an increase of VA loan limits to $484,350 in Texas, up from $453,100. And just to clarify, VA loan limits are not a cap on how much an eligible veteran can borrow, but a determination how much money qualified veterans can borrow before needing to make a down payment. Meaning VA borrowers can definitely buy a home with a pricetag higher than $484,350, but anything above that amount will require a down payment, usually about 25% of the difference between the VA loan limit and the purchase price of the home.
M.O.M. – MILITARY ON THE MOVE
U.S. Military on the Move is a FREE REAL ESTATE REBATE PROGRAM for anyone who has served in the US armed forces. Not only does JB Goodwin Realtors offer superior, military-specific real estate knowledge to aid with your real estate needs, we also offer you CASH BACK when we help you buy or sell a home.
There is no gimmick. When we help you buy or sell a home, we will give 20% of our commission to you at closing.
Whether you are active duty, retired, wounded warrior, or separated, if you have served any period of time in our US armed forces, we wish to thank you for your service by offering this program to you.
What are the Benefits?
- The rebate is given to you at closing
- No waiting for a rebate check
- No rebate limit
- The freedom to choose your lender
- Our agent partners are trained in national & state-specific veteran benefits
Through one of our preferred mortgage lenders, Premier Nationwide Lending, all active duty or retired military are eligible to take part in their “America’s Finest” program, which allows for a $500 credit toward your closing costs, whether or not you are using your VA eligibility to purchase. This program is currently being offered through the end of this this year; if you have any questions about or would like to take advantage of this offer I will happily put you in touch with a loan originator from Premier.
As always, a huge thank you to all our current or former military service members (and their families) for making the sacrifices you do. Please reach out to me if home buying is a dream of yours I can help you achieve; it will be my honor.