VA Joint Loan: Understanding the Benefits and Requirements

Transcript

Welcome veterans and customers to Texas Home Loans, part of our educational series on how to understand a VA loan, how to handle this the best way. In this comprehensive video, we delve into the world of VA joint loans, exploring the benefits and requirements. If you’re wondering what a VA joint loan is and how it can potentially benefit you, you’re in the right place.

A VA joint loan is a type of mortgage available to eligible veterans. and service members as well as their spouses. By combining your financial resources and credit worthiness, the VA Joint Loan has two eligible individuals to purchase a home together. In this joint approach, this opens up a range of advantages, including increased borrowing power, improved chances of loan approval, shared responsibility for mortgage payments.

To qualify for a VA Joint Loan certain requirements must be met. Both parties involved must be eligible must meet the eligibility criteria established. by the Department of VA Affairs. If this, this typically includes certain period of active duty, meeting specific and income, credit and income guidelines, and obtaining a valid COE, Certificate of Eligibility.

Understanding these prerequisites and fulfilling it is essential to a successful application process. One of the main perks of VA Joint Loan is the absence of down payment required for borrowers. This can significantly ease the financial burden and make your home ownership more accessible. You get more money for upgrades, more money for moving in, furniture, these kinds of things.

Moreover, VA joint loans offer competitive interest rates. So you get a better interest rate than a regular conventional loan, but only if your lender does not increase the margins. We talk about this in our other loans. All of these banks out there, and I can show you, it’s all over the internet, the VA loan should be much lower.

Did a conventional loan because that’s because they the insurance placed on it from your service paid for with your service and because of that The lenders are a little bit predatory, and what they do is they move it up, and that difference, they triple the profit margins. They make much more money on a VA loan than they do a regular loan.

We feel this is wrong. It’s done by the owner of the company. The owner, so the loan officer you could talk to might tell you, you might believe them, because they don’t even see that money. That money has been stolen so far upstream. Well, I’m the owner of the, I’m the owner here. So I set the pricing, and I charge the same with conventional and VA.

So I’m not doing anything special. All I’m doing is what I should do. And this is what other people should do, but they don’t. And it’s right in black and white. It’s all over the internet. If you Google who’s overcharging veterans, overcharging minority veterans, these banks and these large mortgage companies, they’re going to remain unnamed.

Cause they got large legal departments. They’re going to mess me up. They do it and they do it a lot, but the fines are less. than the profit. So, I don’t do that and we don’t do that here at Texas Home Loans. So, I hope that resonates with you because your services should be worth something and it shouldn’t be it shouldn’t give you a better loan and then somebody steals what should be a lower rate.

So, how much does this cost the veteran? That’s a good question. It can cost at a 400, 000 loan the difference in interest rate typically on that tripling of the margin. can move the payment 130, 000 over 30 years. So this is not small potatoes. This is not a victimless crime. So, if you’re doing a VA joint loan, and you meet the criteria, we’re going to get you the VA loan that you deserve.

Not the one that’s most profitable to the lender. Triple the margins like all the other banks. And when I mean all the other banks, they all do it. I know one lender. In the entire state of Texas that doesn’t do it other than me. They all do it and it is a crazy business. Call us. We can show you, we can walk through the web.

It’s all right in front of us. As they say, numbers don’t lie. Neither do we, the other lenders. They’ll tell you, oh, we don’t do that, but then you look at their rates and you’re like, oh, I see the raw pricing and the reason why people don’t talk about it is they’re all making money on it. I’m the only one not making money on it, so I’m gonna, I’ll turn on the flashlight, I’ll pull back the curtains.

So, I hope you like my Los Pollos Hermanos, it’s a little homage to Breaking Bad and Better Call Saul big fan but, we appreciate your service. Also, I hope veterans, I hope you like my A 10 blueprints back there. My buddy flies those for Air National Guard and everybody loves the A 10.

Universal, across the board. It doesn’t matter what branch, whatever, everybody loves the A 10. Everybody loves the ugly duckling that just gets it done. It’s durable. You know, it kind of it shouldn’t be there, right? It should have been gone a long time ago, 20 years ago, but it’s there. It’s there because it’s tough, it’s durable, it keeps going, kind of like our service members that keep us free.

So we appreciate your service, I hope you have a good day, and call us anytime, 830 929 7100.