The city of San Antonio ranks as one of the most scenic of all in the Cowboy State. Without its famous Riverline attraction, it would still hold its own for the Sea World and other physical sights. The most important statistic, however, is that the city has a soft spot for people, for it vaunts one and a half million residents. These are the people who have a permanent home here. One of the current backlashes, however, of living in a developed place like this where joblessness is among the lowest margins in the nation, is that the housing bubble has affected home prices. This is why one needs to look for a suitable solution, especially for the military personnel who are always serving their country both at home and abroad. The VA loan San Antonio is their product, with the following statistics:
- It helps to locate a home that is neither too high in price nor too low, for it conforms to county-by-county guarantor limits.
- There is absolutely no down payment, which means that after receiving the entire loan-to-value amount, the veteran needs only to concentrate on monthly payments.
- The loan is available to personnel who have been on active duty for 90 consecutive days during war time.
- The mortgage is also accessible to personnel who have served for 181 days during peacetime.
The current home prices in San Antonio vaunt some of the highest dollar figures in the nation. In 2006, just two years or so prior to the economic meltdown that would soon affect the global housing market disastrously, a residence cost around $175000. Seven years later, this figure has risen by a margin of $22000, which is simply unapproachable in a conventional mortgage. VA loan San Antonio comes to the rescue of veterans by offering attractive deals that include the following:
- Any veteran who has served during war for 90 days is eligible.
- Spouses of veterans are eligible in case their husbands or wives are deceased.
- Disability in the course of duty improves the chances, and actually increases the probability of getting special allowances.
- The only exception is that the VA loan San Antonio does not work in combination with USDA or FHA. The latter are both government programs though on a civilian basis.
VA loan San Antonio also imposes guarantor limits to residents of the city and its counties. These are not income limits but rather imply that veterans can borrow as much as they would like, only that the figure that the government would guarantee a part of is what has a limit to it. The following are limits for cities close to San Antonio in Texas.
|City||Single Family ($)|
San Antonio also vaunts a similar figure for the new $417000 for a single family unit that came into effect in April of 2013. The upper limit for applying for the VA loan San Antonio goes up to $1000000, worth of government backing. The amount that the Veterans Association guarantees is usually 25 percent of the amount under guarantee.
Thus, the VA loan San Antonio is a suitable choice for veterans in the city who would want to access affordable homes. It is only accessible to military men and this privilege has been advantageous to millions of beneficiaries since the program began.