Veterans Home Loans
Honoring service through home ownership.
The Veterans Administration (VA) partners with lenders like Oakstreet Mortgage to make home ownership more accessible to those who have served our country. The VA Home Loan Program offers a range of exclusive benefits for eligible service members, veterans, and their surviving spouses.
Program Benefits
VA Home Loans provide several distinct advantages over conventional mortgage options:
- No down payment requirement: Qualified borrowers can purchase a home without the need for a down payment.
- Competitive interest rates: VA loans typically offer lower interest rates than conventional financing, which may lead to significant long-term savings.
- Limited closing costs: The VA limits the types and amounts of closing costs veterans are required to pay.
- No private mortgage insurance (PMI): Eliminating PMI reduces monthly payments and overall loan costs.
- Reusable benefit: VA loan eligibility can be used multiple times throughout the borrower’s lifetime.
Eligibility
Eligibility for a VA Home Loan is based on military service and discharge status, among other criteria.
- Active-duty service members: Must have completed a minimum of 90 consecutive days of active-duty service.
- Veterans: Requires at least 90 days of wartime service or 181 days during peacetime. Veterans with certain discharges other than dishonorable may still qualify, subject to review.
- National Guard and Reserve members: Completion of at least six years of service, or 90 days served under Title 32 orders, with at least 30 consecutive days.
- Surviving spouses: Loan options available for the unmarried spouse of a veteran who died while in service or as a result of a service-related disability. Certain exceptions may apply for remarried spouses.
Oakstreet Mortgage LLC | NMLS ID: 1618618 (www.nmlsconsumeraccess.org) | © 2024 | Contact Us Today | Privacy Policy | Terms Of Use
Any rates advertised herein by Oaktree Mortgage LLC dba Oakstreet Capital NMLS ID#: 1618618 www.nmlsconsumeraccess.org are only available to qualified borrowers. Additionally, the stated rate and APR may change or not be available at the time of loan commitment or lock-in. Oakstreet Home Loans LLC dba Oakstreet Capital is not affiliated with, or an agent or division of, a governmental agency or depository institution. Refinancing of exiting liens, even at lower rates may result in higher total finance charges over the life of the loan. Any pre-approvals referenced herein are not approvals and are only available after prospect application has been submitted to lender and approved by its automated underwriting system or manual underwrite. Terms and conditions of pre-approvals will be promulgated on all pre-approvals provided. CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.