About VA Loans

VA Loans date back to the Servicemen’s Readjustment Act, commonly known as the “GI Bill of Rights” which Franklin D. Roosevelt signed into law on June 22, 1944. This legislation provided benefits to veterans including federally-guaranteed home, farm, and business loans with no down payment. Vets could apply for loans of up to $2,000, up to 50% of which was guaranteed by the government.

Over the years, the VA home mortgage programs have benefited more than 18 million veterans and their dependents. Through 2006, the Veterans Administration had guaranteed more than 18 million home loans valued at almost $1 Trillion. The Department of Veterans Affairs is the second largest federal agency with more than 250,000 employees.

Texas, with is various military bases, proud heritage, and relatively attractive cost of living, has always been an attractive destination for active and retired military service personnel. As a result, more than 12,000 new VA home loans have been processed in the state over the past year ending March, 2009 with an average home price of $171,550. In addition, more than 3,800 mortgage refinancings have been processed enabling veterans to reduce their mortgage payments and provide significant interest savings. The benefits VA loans provide make them among the most attractive mortgage loan programs available.

Home Loan Specialists, Inc., a Houston, TX based mortgage provider, has been approved by the Department of Veterans Affairs to provide both purchase and refinance VA loans to eligible veterans at attractive low rates. Interested borrowers should call (832) 286-1600 for additional information.