From the Woodlands to Houston, the Greater Houston VA loan is one of the most important programs that cross-ties satellite cities within this jurisdiction with its persuasive deals. Some of these include those of the TX Vet Home Loans, which is a program that can be an alternative to the Veterans Affairs’ mortgage, with a maximum guarantee value of $325000. There are also other programs that are related in the following statistical analysis.
Spring, Conroe, Magnolia, Cypress, Tomball, New Caney and Liberty are some of the Texas cities in the Greater Houston jurisdiction that are subject to the outreach of the Lands Board in the state. The board has a housing loan that is separate from the traditional VA loan, with the name of Veterans Housing Program (VHAP). The difference that locals of the cities above are likely to experience with this offer is that they ought to not only be eligible for the VA but other government mortgages as well if they are going to get the VHAP deal. Here are other features:
- Unlike normal VA loan Houston, this acts as the guarantor of the interest margin of the mortgage. This implies that the lending authority offers but a streamline plan for securing the loan’s monthly rates.
- The maximum guarantor figure is $325000.
- Applicants can apply to finance construction mortgages using this scheme.
Cities including Greater Huston, Katy, Sugar Land, Pearland, Clear Lake, League City and La Porte, all come with maximum guarantor limits that do not exceed nor go below the state’s equivalents. Indeed, alongside the Lands Board margins of $325000, all these cities have the following VA loan limits as of the first quarter of 2013.
| County | Single Guaranty in dollars | Maximum Guaranty in dollars |
| Greater Houston | 417000 | 1000000 |
| Katy | 417000 | 1000000 |
| Sugar Land | 417000 | 1000000 |
| Pearland | 417000 | 1000000 |
| Clear Lake | 417000 | 1000000 |
| League City | 417000 | 1000000 |
| La Porte | 417000 | 1000000 |
The above figures clearly demonstrate that the maximum guarantee for each city is distributed equally across the board. The same case applies for the Houston VA loan, even if it caters for larger cities than the ones in the table. This is because they do not represent the income abilities of the veteran, but rather the amount the government is willing to settle in case of a breach. As such, it goes beyond the grasp of the FHA’s primarily income dispensation, which stands at an average of $271050.
Other cities that fall under a similar loan dispensation include Baytown, River Oaks, Texas City and Galveston. All these places, especially the Galveston case, can get all the major VA loan prerogatives including refinance, but also qualify for a special VA Loan purchase scheme where the veteran can benefit from minimal money down requirements, fewer charges than normal and low interest rates. They can also refinance their mortgages using the ‘Streamlined’ option of Interest Rate Reduction Refinancing Loan (IRRRL) that reduces the interest and modifies the term of the loan.
Therefore, all the cities in the jurisdiction of the Greater Houston VA loan program are subject to the affordable scheme that is this type of mortgage. Even if the cities have similarities, they also have different accessibility options at home, thus making the process an easy one for certain residents. Galveston borrowers for example can go to a loan officer in their city who understands the VA loan program even without having to consult the Veterans Affairs Department’s personnel.